Last week, California Assembly Bill 2501, the COVID-19: homeowner, tenant, and consumer relief act, failed to pass out of California’s State Assembly before the legislative body adjourned for the week. The bill, drafted by Assemblywoman Monique Limón (D-Santa Barbara), would have put a temporary moratorium on foreclosure actions, limited auto repossessions, and required mortgage servicers of private loans to offer forbearance of up to 360 days for borrowers experiencing financial hardship. While the bill cannot be brought up again during this legislative session, some speculate that aspects of the bill will be brought up through other legislative efforts. 

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