Consumer advocates have criticized the 90-day California foreclosure moratorium arguing that several unclear provisions will only hinder the law from reducing the number of foreclosed homes.
The state of California continues to suffer from high number of foreclosed properties, including fixer upper repo homes. The area is expected to lose billions in revenue due to the crisis.
The California State Legislature will shortly pass an important bill to block dodgy foreclosure practices. Meanwhile, local government is finally on the move.
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