Record home losses in California
[Los Angeles Times - Top News]
Foreclosures statewide jumped 33.5% in the three months ended June 30, compared with the same period last year, DataQuick Information Systems reported. The 63,061 homes taken back by lenders were the most for a three-month period since the firm began tracking this data in 1992.
New California law offers a shield on mortgage defaults
[SacBee -- Real Estate News]
Senate Bill 1137, which takes effect immediately, prohibits lenders from filing a default notice until 30 days after contacting a borrower or making legitimate attempts to do so. The law by Senate President Pro Tem Don Perata, D-Oakland, also requires that tenants receive 60 days' written notice to vacate a property once it is foreclosed.
The California Building Industry Association today said the state’s adoption of new mandatory green building standards will help ensure that California remains at the cutting edge of the green building movement while keeping new homes as affordable as possible.
