Legislature OKs foreclosed homes bill from Berkeley’s Skinner
Senate Bill 1079, which modifies the process for how foreclosed homes are sold at auction so that big corporations don’t have an advantage, has won approval from the California Legislature.
The bill, Homes for Homeowners, Not Corporations, by state Sen. Nancy Skinner, D-Berkeley, would give tenants, families, local governments and housing nonprofits the chance to buy foreclosed homes before large corporate buyers can snatch them up. If signed into law, SB 1079 would also provide local governments with the authority to fine corporations or other owners that leave homes vacant or blighted, rather than refurbishing, renting or selling them.
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