The State of California has a new law. The California Foreclosure Prevention Act became law this week. The law applies to specified loans that were recorded from January 1, 2003 to January 1, 2008 and only pertains to a principal residence. The law provides the homeowner an additional 90 days, provided the Notice of Default has been filed. There are some exceptions, so please seek the appropriate legal advice to see how this might benefit you. The reason it was drafted is as … [Read more...]