California “Repossession and Collections Moratorium Bill” Passes Appropriations Committee

If enacted as law, all repossession, foreclosure and collections activities would be on hold in the state of California until one-hundred and eighty days (6 months) after the end of the Federal Crisis

Sacramento, CA – 3 June, 2020 – In a 12-5 vote count, the California State Assembly Appropriations Committee “rubber stamped” and passed AB 2501, the COVID-19: homeowner, tenant, and consumer relief Law of 2020”.  This was it’s second step on its way to becoming law. If enacted as law, all repossession, foreclosure and collections activities would be on hold in the state of California until one-hundred and eighty days (6 months) after the end of the Federal Crisis and decimate the entire repossession and collections industry in the state of California for possibly years to come.

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