CA AB1745

Prohibits recording a notice of sale after providing written approval of a short sale to a mortgagor or trustor.

Allows withdrawal of short sale approval only if the mortgagor or trustor fails to comply with a condition of the written short sale agreement, requiring written notice to the mortgagor or trustor at least 3 days before the withdrawal becomes effective.

Requires withdrawal notices to include the reason or reasons for the withdrawal and the effective date of the withdrawal.

Permits recording a notice of sale after short sale approval is withdrawn, unless subsequent short sale approval is later provided.

Defines "short sale" as a transfer of real property where the mortgagor or trustor sells the property for less than the remaining indebtedness secured by the property.