Is Anyone Using SB1079 to Purchase Foreclosed Homes?

[Yohan Kim]

Hello everyone,

I have been in ministry for 20 years, working closely with church congregations. Over the years, I have often seen church members lose their homes, which deeply affects not only them but also the local church and its pastors.

While looking for ways to support both pastors and struggling church members, I came across SB1079. I believe this law presents a great opportunity—not only as a sustainable business model but also as a way to help people in need.

However, I have no experience in real estate or foreclosure auctions. Recently, through my church network, I had a brief conversation with the CEO of a real estate investment company specializing in auctions. He dismissed SB1079 as impractical and not worth the investment, mainly due to the lack of a centralized system for tracking auction dates.

Despite this, I still believe SB1079 has great potential, and I would love to learn more about how it can be applied effectively. Is anyone here actively involved in using SB1079 to purchase foreclosed homes? Or do you know of any groups or individuals working in this space?

I would greatly appreciate any insights or advice. Thank you!

[Meghan Carson]

@Yohan Kim 

Welcome in! 

I haven’t personally heard of anyone going the SB1079 route, but I have done some research on it. From what I’ve gathered, it’s crucial to connect with local agents and attorneys since they often learn about foreclosures before they even hit public records.

It also helps to keep an eye out while driving—homes that appear neglected or have been vacant for a long time often signal a pending foreclosure.

If you're considering this strategy, be ready to move quickly. Having your financing lined up is essential because many properties receive institutional bids. If a large investment company wins an auction, SB1079 typically gives you the chance to step in and match the bid within 40+ days.

Check your local treasurer and tax collector’s websites—they usually list upcoming online and in-person foreclosure auctions.

Hope this helps!