Bill Text: CA AB2424 | 2023-2024 | Regular Session | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Mortgages: foreclosure.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2024-05-08 - From committee: Do pass. To Consent Calendar. (Ayes 15. Noes 0.) (May 8). [AB2424 Detail]

Download: California-2023-AB2424-Introduced.html

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CALIFORNIA LEGISLATURE— 2023–2024 REGULAR SESSION

Assembly Bill

No. 2424

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Introduced by Assembly Member Schiavo

February 13, 2024

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An act relating to real property.

LEGISLATIVE COUNSEL'S DIGEST

AB 2424, as introduced, Schiavo. Foreclosure.

Existing law prescribes various requirements to be satisfied before the exercise of a power of sale under a mortgage or deed of trust and prescribes a procedure for the exercise of that power. Existing law establishes the order of priority for the distribution of proceeds following a sale.

This bill would state the intent of the Legislature to enact subsequent legislation relating to home equity protection during the foreclosure process for the purpose of protecting consumers from losing home equity.

Digest Key

Vote: MAJORITY   Appropriation: NO   Fiscal Committee: NO   Local Program: NO  

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Bill Text

The people of the State of California do enact as follows:

SECTION 1.

 It is the intent of the Legislature to enact subsequent legislation relating to home equity protection during the foreclosure process for the purpose of protecting consumers from losing home equity.