CA AB2424

Requires mortgage servicers to notify borrowers that third parties (family members, HUD-certified housing counselors, or attorneys) may record a request to receive copies of default and sale notices to help avoid foreclosure.

Prohibits foreclosure sales for 45 days if the mortgagor/trustor provides a listing agreement from a California licensed real estate broker at least 5 business days before the scheduled sale date.

Requires an additional 45-day postponement if a purchase agreement with a price equal to or greater than the unpaid balance is submitted at least 5 business days before the scheduled sale.

Mandates that mortgagees provide the trustee with a fair market value estimate at least 10 days before the initial sale date and prohibits selling the property for less than 67% of that fair market value on the first sale attempt.

Requires a minimum 7-day postponement if the property remains unsold after the initial trustee's sale, allowing it to be sold to the highest bidder thereafter.