It probably already is against the law.

You must make sure that you have all the proper paper work in place especially since the new laws came out on Oct. 1st.

Where might i find some current reading on the laws. anyway if anyone has a thought... let me know, Thanks

My mortgage broker/friend said he seen programs that go as low as 490 credit score but they have some pretty strict terms.

Check with an attorney on your local laws though.As for 'equity', it's kind of hard to say if you can even get a loan against it unless it comes from a local bank who understands your market conditions and thinks that there is good reason to 'lend' you money.

Give the legal notice required by your state law to go in and inspect--see what condition the unit is in & start advertising and showing it immediately.

It will only become law AFTER the President signs it or if he vetos it, after both the House and Senate override that veto.

And are they protected by tenant Laws of the state of California?

Those that understand what is happening are stocking up on food, guns, ammo, and a place to keep them because they know that there could be a collapse of law and order, in addition to a collapse of the economy.

Terri,The short answer is the idea shouldn't be different, but in practice it will be different because LA has different foreclosure laws than NJ.