CA SB 1079 - changes to CA's foreclosure laws

[Andy Mirza]

Here's another reason to dislike doing business in CA especially if you're a trustee sale buyer:

https://community.propertyrada...

Unfortunately, this new bill regarding CA foreclosures will probably get signed into law. It adds 45 days post trustee sale to allow "eligible bidders," including tenant occupants to outbid the winning bidder. Terrible for investors that buy at trustee sales. Adds at least 45 days to timelines for foreclosing lenders.

[Terrence Evans]

Marco,  the rules can ALWAYS change midway thru.  Those of us who are notes pride ourselves believing that the problems that landlords have could never really touch us. 2020 was kinda a way of reminding us "Hey.. Not so fast" with the moratoriums and such.

But with that said, Cali regs are one more reason to not do stuff here. But that is far behind the primary reason of cost.