WBK Industry News - State Regulatory Developments

California Amends Provisions Regarding Power of Sale

California recently enacted Assembly Bill (AB) 175 which makes amendments to Senate Bill (SB) 1079 (enacted a year earlier).  Among other matters, AB 175 specifies the form of affidavit that prospective foreclosure-sale bidders must use to attest to their status, closes loopholes that might have allowed a foreclosed-on owner to reacquire their property, and ensures that foreclosure trustees have bidders’ phone numbers and addresses.

The bill goes into effect January 1, 2022.