In another strike on lenders and altogether sellers of homes obtained through foreclosure (Hard Money/Private Lenders/Note Buyers we are talking to you!) they can no longer dictated according to Assembly Bill 957 (AB957) as of October 12th what Title and Escrow company must be used in the purchasing of their REO inventory.
The lenders still can suggest options to the buyer(s) but the buyer(s) must be provided written notice of the right to make an independent selection of those services. This does not apply to all real estate and only includes properties with 4 or less units (Residential Properties) as anything else is considered commercial real estate.
