New Laws 2025: Foreclosure Updates allow Borrowers more time to Sell Home before Foreclosure

Send a textIn this episode, we explore the significant changes introduced by California Assembly Bill 2424, effective January 1, 2025, which reshapes the foreclosure process for residential properties with 1 to 4 units. We discuss new requirements that extend foreclosure sale timelines, including a 45-day postponement when a listing agreement is submitted and an additional 45 days for an executed purchase agreement, provided specific conditions are met. The episode also covers the new mandate prohibiting initial trustee sales below 67% of fair market value, alongside practical insights into how these changes impact borrowers, trustees, and real estate professionals. Join us for an in-depth look at how these updates could influence your real estate or foreclosure practices moving forward.Check out Sold2000.com to learn more about these updates and how to navigate them effectively!Check out Fund2000.com for our Mortgage Lending team (NMLS 2277963).Sold2000.com for our real estate Sales Team (DRE 02173355).Learn more about host Chuck Hamm here or on LinkedIn, and contact him at [email protected]. Video version of podcast on Youtube or search for Fund2000 Real Estate Podcast!This content is not legal advice. Contact an attorney for legal advice. For specific real estate sales or mortgage lending questions, you may contact [email protected]