SB 1079 – An SFR 1-4 Foreclosure Game Changer
11am – 12:30pm
Description: The rules for SFR 1-4 foreclosures in California have just changed – in a big, big way. In an attempt to prevent mass corporate ownership of single family rental housing, this new state law will allow prospective owner occupants and non-profit housing organizations a 45-day post foreclosure window to acquire recently-foreclosed SFR 1-4 properties. The impact to investors, servicers, and trustees is enormous. And the law is unclear on many issues. Are 1-4 single family properties under construction affected? How will bidding strategy be affected when the loan is secured by more than one property? How will this affect a loan with a personal guarantee? What if there are multiple post-foreclosure bids for the same amount? Listen in as CMA’s top experts explain the law, and provide practical advice in how to work within the new restrictions.
Robert Finlay, Esq., CMA General Counsel
Elizabeth Knight, CMA President
Randy Newman, Esq., Founder, Total Lender Solutions
Shafiq Taymuree, Executive Vice President, Stonecrest Financial
Cost: $50; complimentary for CMA members