SB 1079 – An SFR 1-4 Foreclosure Game Changer

Tuesday, 11/17/2020
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.

Presented By:
Robert Finlay, Esq., CMA General Counsel
Elizabeth Knight, CMA President
Randy Newman, Esq., Founder, Total Lender Solutions
Shafiq Taymuree, Executive Vice President, Stonecrest Financial
Register Online!
Cost: $50; complimentary for CMA members