{"id":39,"date":"2024-11-05T15:00:00","date_gmt":"2024-11-05T15:00:00","guid":{"rendered":"https:\/\/www.markmallorca.com\/blog\/?p=39"},"modified":"2024-11-05T15:00:00","modified_gmt":"2024-11-05T15:00:00","slug":"california-passes-law-extending-new-protections-to-mortgage-borrowers","status":"publish","type":"post","link":"https:\/\/www.markmallorca.com\/blog\/2024\/11\/california-passes-law-extending-new-protections-to-mortgage-borrowers\/","title":{"rendered":"California Passes Law Extending New Protections to Mortgage Borrowers"},"content":{"rendered":"<div class=\"roomvu-news-container\">\n<p>Governor Newsom signed AB 2424, effective January 1, 2025, which introduces new foreclosure notification and sale requirements for mortgage lenders. Lenders must inform defaulting borrowers about third-party assistance options and provide disclosures before signing mortgages. Foreclosure sales are postponed for 45 days if the property is listed for sale, with further delays if a purchase agreement is received. The law mandates fair market value disclosures and sets a minimum sale price at 67% of that value.<\/p>\n<p>\t<a class=\"roomvu-news-continue\" href=\"https:\/\/news.google.com\/rss\/articles\/CBMioAFBVV95cUxPNDZYTHRBclVUSVFaek5RTzNyY3BZS0J0dTFzeUNQeVQwUHJuV1puRklJV2VyRUNhczJ5Ny02NldyOW91MzR6d2h2N0tnZlVhVXRIbGs0dHNLSEpkY3RlQXZib0V0cEtqdE93RTRJZGdHb3FSU1h1MVR5Y1BWTWptVHhZT2VIS2tIemc5NWpMN3ZoSFJvSEpGazI1QUNzOFJB0gGmAUFVX3lxTE5LYklsME1wMEk3dTUydUUxVFF0Q0ZYMTA3OHA2QUhMOTEtS3YxX05IWklJNnhuLUVrLVFlRjdJRTB5SThsU0VocXZuWHdFR2EyeDVZVWI0b0lGbkZPdGQwWVFDdnZOQ20tTl9iMlZZeUd0cGtBRFVwYmx4LUY4ZmJ0eHY2d19Cai1JWEZ4Y2ZWWTlDc0dxRm82c2xRd1lhRXExb2Y0OGc?oc=5&#038;hl=en-US&#038;gl=US&#038;ceid=US:en\"><\/p>\n<div>Continue to full article<\/div>\n<p>\t<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Governor Newsom signed AB 2424, effective January 1, 2025, which introduces new foreclosure notification and sale requirements for mortgage lenders. Lenders must inform defaulting borrowers about third-party assistance options and provide disclosures before signing mortgages. Foreclosure sales are postponed for 45 days if the property is listed for sale, with further delays if a purchase [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-39","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.markmallorca.com\/blog\/wp-json\/wp\/v2\/posts\/39","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.markmallorca.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.markmallorca.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.markmallorca.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.markmallorca.com\/blog\/wp-json\/wp\/v2\/comments?post=39"}],"version-history":[{"count":1,"href":"https:\/\/www.markmallorca.com\/blog\/wp-json\/wp\/v2\/posts\/39\/revisions"}],"predecessor-version":[{"id":41,"href":"https:\/\/www.markmallorca.com\/blog\/wp-json\/wp\/v2\/posts\/39\/revisions\/41"}],"wp:attachment":[{"href":"https:\/\/www.markmallorca.com\/blog\/wp-json\/wp\/v2\/media?parent=39"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.markmallorca.com\/blog\/wp-json\/wp\/v2\/categories?post=39"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.markmallorca.com\/blog\/wp-json\/wp\/v2\/tags?post=39"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}