AB2x-7 990 day extention, What will be the effects o


#1

AB2x-7 990 day extention, What will be the effects of sales at auction? Will we see a drastic reduction initially in the number of sales taken to auction? does this go into effect June 15? Where would I find some analysis?


#2

Hard to say. Really depends on how tough the state is on granting the exemptions from the 90 day rule (lenders are exempt if they have a comprehensive loan mod program in place). The lenders only had to apply for an exemption by June 15. I’m guessing most will and there will be no immediate impact. For now it seems we just have to wait and watch.