California laws
Anyone have any knowledge of the set
of laws here in CA regarding pre-foreclosure sales.
They are known as 'Home Equity Sales
Contracts' and protect homeowners
from selling their equity way below
market values.
Thanks
Richard
Not familiar with that law. You might want to check with a lawyer friend in your area.
That law sounds like it will hinder people from selling their house to save their credit.
I am Not an attorney (you should consult with one) but, I think the law is under the CA Civil Code 2924, not sure if this is the one you are looking for, but check it out.
The law you are refering to was created to protect individuals, facing possible foreclosure, from being taken advantage of from harrassing, cheating and underhanded tactics by some equity skimmers calling themselves real estate investors.
Best of Luck
John
check this out:
http://www.foreclosures.com/forecast/ff_Nov01/default.asp?topic=legal
Pre-foreclosure purchases;
have you (or anyone here)
tried one here in California?
Looks like the law is a bit involved!
I have been an investor for 15 years
and have been the high bidder
on a couple of 'trustee's sales'
Thanks in advance,
Bukzin