California Statutes Regulating Foreclosure Rescue & Equity Skimming
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California has two statutes, both passed in 1979, that regulate home sale transactions involving homeowners facing foreclosure, investors purchasing from these financially strapped homeowners, and mortgage foreclosure consultants.
1) California's Home Equity Sales Contract Act can be found at Section 1695 through Section 1695.17 of the California Civil Code.
2) California's Mortgage Foreclosure Consultants Act can be found at Section 2945 through Sction 2945.11 of the California Civil Code.
In addition, California also has a statute prohibiting rent skimming (equity skimming) and can be found at Section 890 through Section 894 of the California Civil Code.
Click here to view the entire hyperlinked Table of Contents of the California Civil Code.
California has two statutes, both passed in 1979, that regulate home sale transactions involving homeowners facing foreclosure, investors purchasing from these financially strapped homeowners, and mortgage foreclosure consultants.
1) California's Home Equity Sales Contract Act can be found at Section 1695 through Section 1695.17 of the California Civil Code.
2) California's Mortgage Foreclosure Consultants Act can be found at Section 2945 through Sction 2945.11 of the California Civil Code.
In addition, California also has a statute prohibiting rent skimming (equity skimming) and can be found at Section 890 through Section 894 of the California Civil Code.
Click here to view the entire hyperlinked Table of Contents of the California Civil Code.
September 27, 2008 Addendum:
posted by Home Equity Theft Reporter at 7:05 PM
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