UPDATE: This legislation was approved by both chambers on 8-24-22 and was forwarded to the Governor for signature on 8-31-22.
AB 2170 was introduced on 2-15-22 by Assembly Member Grayson.
This bill would require properties with 1-4 units going through foreclosure, to first be considered only for owner-occupants and eligible bidders for the first 30 days of listing. Eligible bidders include:
A prospective owner-occupant
A nonprofit corporation meeting certain requirements
A community land trust
A limited-equity housing cooperative
The state, the Regents of the University of California, a county, city, district, public authority, and any other political subdivision or public corporation in the state.
Comments