Peril and Opportunity

The California Homeowners Bill of Rights, effective 1/1/2013, is turning the state into a judicial foreclosure jurisdiction. The bill authorized fines of up to $50,000 against lenders and trustees for “wrongful” foreclosures.

The bill also gives homeowners the right to sue for damages and for recovery of attorney fees. I’ll post more on this topic in the coming weeks, and why this “sea change” adds to the instability of the California real estate market, creating peril and opportunity alike

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