Tuesday, May 11, 2004

SB 1682 Senate Bill - Bill Analysis
This bill would reform HOA forec.osure in California. It would prohibit foreclosure for delinquent assessment amounts of less than $2500, leaving the association recourse to small claims court or filing a lien. For amounts over that, nonjudicial foreclosure is still available but the bill creates a homestead exemption and a redemption period.
My understanding, from Fred Pilot, is that this is headed for the Senate floor.

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