REAL PROPERTY FORECLOSURE CHANGES A new law will take effect on January 1, 2025, making changes to real property foreclosures: 1. Enhanced Notice Requirements: Borrowers must now receive clearer and more comprehensive notices regarding the foreclosure process, including detailed information about their rights, the timeline of the proceedings, and the...
Foreclosures The real estate industry runs in cycles with the economy. With the tight economic times, business owners in a pinch cannot pay their lenders. When borrowers stop paying the secured lender, the lender typically begins the foreclosure process. Foreclosures are heating up across the country. As of November 2022,...
CALIFORNIA RESIDENTIAL FORECLOSURES CHANGES TO PROCESS AND TIMING On September 28th, Governor Newsom signed into law Senate Bill 1079[1], which alters the process for how foreclosed homes are sold at trustee’s auction, requiring notice and preferred opportunities to tenants, local governments, and nonprofit/low income housing entities to buy foreclosed homes...
Tenants & Landlords: Temporary Eviction Moratorium & Rent Freeze Have Been Extended to July Earlier this week, LA County issued an executive order which extends an existing temporary moratorium on evictions in parts of LA County, in response to the COVID-19 health emergency. The eviction moratorium will remain in place until July 31, 2020. The...
KEY PROVISIONS OF ASSEMBLY BILL 828 (AB 828): On April 14, 2020, Assemblyman Phil Ting (San Francisco) introduced legislation for a temporary moratorium on foreclosures and evictions due to the economic impact of COVID-19. In an unlawful detainer action, if the tenant’s inability to pay rent is due to increased...