Summary of CA SB 0127

http://www.leginfo.ca.gov/cgi-bin/postquery?bill_number=sb_127&sess=CUR&house=B&author=calderon

Amending: Sections 2924, 2924b, 2924c, and 2924f of, and to add Sections 2924.9 and 2924.10 to, the Civil Code

Synopsis: Makes minor changes in requirements for notice and sale of foreclosed properties

 
- Exempts trustee from liability for any good faith clerical error the trustee makes in complying with notice of sale statute
- Requires Mortgagee, trustee, or other person authorized to record a notice of sale or notice of default to make specific disclosures either a) online, or b) in a phone recording available at all times.
o Must be posted for 20 days instead of the current 14 days
- Beneficiary must provide an opening bid to trustee at least a week before first scheduled sale date. Beneficiary may later update bid or accept a higher bid.
- Trustee must provide a list of liens and encumbrances upon the trust property (but may charge reasonable fee for it)