Hi Lorca222, I touched on this in another post as follows:

"On 6/15/09 CA added a new 90-day moratorium on home foreclosures in California. Personally, I think this is more political posturing than effectual in stopping the foreclosure process. Here's the key: Lenders and loan servicers that already have a comprehensive and systematic loan modification program in place are EXEMPT FROM THE LAW. Now take a look at who is exempt: (some of the largest in the Nation):
http://docs.Steven-Anthony.com/90DayExemptLenders.pdf

So, just how effective is this new law? Not very much in my opinion."


There are numerous opinions about whether or not additional supply of distressed properties will hit in Q409. I happen to believe Q409-Q110 is when we will see noticable supply increases. You can read why here (this is an "agent-to-agent" post about REOs)

http://www.trulia.com/voices/Agent2Agent/How_to_deal_with_th…

Best, Steve