California Equity Purchases

[NOD Properties]

Does anyone out there know of any new laws in the State of California that enable the sellers of homes, for which a Notice of Default has been filed, the right to redeem the property for 1 year?

I am aware of the laws covered in California Civil Code sec. 1695 that define the state laws over equity purchases, however I was told today that new laws enable the seller the right to redeem the property (i.e. repurchase at same price) for one year.

Any guidance would help.

Thanks,

Bill Blackledge

[Burke]

Bill,

Someone here may know but you may want to post your question here: http://www.foreclosureforum.com/mb/index.html

These guys seem to know the California foreclosure business inside out. Fair warning thoug. Some of them are not as freindly as the folks here so put your fire retardant jacket on before posting and reading responses.

Hope that helps!

Burke