California's New Foreclosure Laws Promote Equity and Transparency

07 Aug 2023

California's passage of Assembly Bill (AB) 1837 and AB 2170, aimed at increasing homeownership for residents, has been extended until January 1, 2031, to create more affordable housing and more community stability to limit investors' purchasing foreclosed homes. Investors in California in the past used data collection and projections to buy lower-end homes with rental potential at the expense of those whose only option is these more affordable homes. The article further defines institutions under a section of the law and ways in which institutions can level the playing field who can also bid for property, including limited-equity housing cooperatives. Under this law, a new era of transparency, equity, and responsibility will be issued in California's foreclosure market which is a positive for those pushing for affordable and inclusive housing.