October 19, 2020
Last month, Gov. Gavin Newsome signed Senate SB 1079 into law as part of a package of 15 bills aimed at establishing new rights for tenants and community groups. Aimed at tackling California’s affordable housing crisis, SB 1079 creates historic changes to nonjudicial foreclosure sales of real property containing one to four single-family residences. This bill makes nonjudicial foreclosures slower, more expensive, and a less appealing remedy against defaulting trustors-debtors, and will increase costs for lenders and for residential borrowers.
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