Effective January 1, 2021, California implemented a new non-judicial foreclosure process for all loans secured by 1-4 unit residential property providing certain advantages to “Eligible Bidders” in an effort to promote owner-occupancy and affordable housing for said properties. Defects in both the design and implementation of SB-1079 have and will continue to result in mounting litigation surrounding who is an Eligible Bidder, what is an Eligible Bid and even how the process should be conducted. Given that SB-1079 is still in its infancy, Appellate Courts have yet to resolve many of these questions, making it all the more critical to be aware of potential pitfalls.
Whether you’re a lender, trustee, or prospective bidder, this webinar will examine the numerous potential litigation issues presented by SB-1079 and strategies for dealing with them in kind.
You Will Learn:
- The main elements of the revised non-judicial foreclosure process under SB-1079.
- The primary pitfalls in the statutory scheme susceptible to litigation disputes and how to avoid them.
- Applicable litigation strategies for handling respective disputes.