Whether you rent or own, laws affecting people’s homes have a particularly significant and usually personal impact. Even those without a place to live are affected, as rules relating to housing not only have an impact on eviction and foreclosure, but also on price and availability.
Because of the recent (beginning in 2007) economic crisis and significant decline in prices throughout the California (and worldwide) real estate market, foreclosure, mortgage modification, refinance, and bankruptcy became common topics of discussion as well as legislation. The California real estate market is recovering, but many people are still faced with serious financial liabilities related to property values. Important legal protection have been put in place to protect the rights of both homeowners and renters.