Pacific Legal Foundation Applauds California’s Move to End Home Equity Theft Loophole – California Globe

Pacific Legal Foundation Applauds California’s Move to End Home Equity Theft Loophole – California Globe

On Wednesday, October 1, California Governor Gavin Newsom signed Assembly Bill 418 by Assemblywoman Lori D. Wilson (D-Suisun City), closing a loophole that allowed California localities to seize and transfer homes to the government or nonprofits without compensating former owners for their hard-earned equity. “For too long, California allowed local governments to strip homeowners of their life savings,” said Jim Manley, director of state policy …