A bill that would enact a foreclosure moratorium for up to 24 months, AB 1436, has been introduced in appears headed for consideration in the California Assembly.
After failing passage in June, AB 2501, appears to be dead. That bill would have imposed a blanket one-year foreclosure moratorium and required forbearances on residential mortgages based upon a self-attestation from borrowers. The bill, which also covers auto loans, and payday lenders, was opposed by a large coalition including UTA, CMA, CMBA, MBA, auto dealers, payday lenders, and realtors.
AB 1436 does not address auto loans and payday lenders, just foreclosures. Please contact your California representatives and urge opposition to this bill.