Archive | Foreclosures

42908957 - handing over cash for house keys in front of house and foreclosure sign


FORECLOSURE UPDATE: SB 1079. On September 28, 2020, Senate Bill 1079 was signed into law. It granted a right of redemption or first refusal to purchase a foreclosed residential property to tenants, buyers intending to use the property as their residence, local governments, and other eligible buyers. It caused all one-unit to four-unit family dwellings […]

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Foreclosure Laws: California has specific laws and procedures governing the foreclosure process, including notice requirements and opportunities for homeowners to explore alternatives, such as loan modifications. The California legislature passed Assembly Bill (AB) 1837 and AB 2170, effective as of January 1, 2023. These two laws, which build on the groundwork laid by Senate Bill […]

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The One

Interesting Trustee Sale Was Scheduled In Beautiful Pomona For October 27

“The One” There are trustee sales every day. 11 to 14 years ago there were thousands every day in California. Why is this one interesting? The property is in Bel Air and the estate includes 105,000 square feet, measured.It was once listed for $500,000,000.00 and the default listed is for $165,000,000.00.A receiver is currently working […]

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Homestead Expanded to $600,000 on Jan 1, 2021

Assembly Bill 1885 Assembly Bill 1885 expanded the homestead equity protection limits in California from the previous amounts of $75,000 to $175,000. The new increases should likely prevent more homeowners from losing their homes to bankruptcy. High-cost LA and Orange County, for example, will fall into the equity cap of $600,000 while Riverside County will […]

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House auction concept. Gavel in front of model of house.

What Some Advisors Tell You

Judicial Foreclosures I’ve had some more questions about Judicial Foreclosures recently.  Homeowners are worried about having a judgment deficiency rendered against them. No non-recourse loan (Loans put on at time of Purchase of a home) can use the Judicial Foreclosure.  A Judicial Foreclosure takes about 1 ½ years to get to court and there is […]

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2018 Foreclosure Problem

A Close Amigo Of Mine Called To Discuss A Friend’s Problem She was getting cheated on a Trustee Sale of a home worth more than $1M. The home had a $400K+ loan and a second that was foreclosing for, let’s say, $130K.  The lady was getting bad legal advice, no action, and it went to […]

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