California has a law on the books that offers some protection to certain homeowners who are facing foreclosure.
Since reaching a high point during last decade's Great Recession, the number of foreclosures across the country continues to decline. The rate of decline, however, does seem to be slowing down a bit.
Many professions in California are regulated by the state. This is usually because people put a lot of trust in such professionals and can lose a lot of property if it turns out that the trust is misplaced.
Previous posts on this blog have discussed how a short sale can help a family in San Jose or one of the other suburbs in the Bay Area avoid losing their home, or other property, to the process commonly referred to as foreclosure.
It does not take an expert in real estate to recognize that the worst case scenario a homeowner or other property owner can face, aside perhaps from an uninsured loss of the property, is the loss of the property due to inability to repay the mortgage or mortgages on the home.