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Financial Services Law Insights and Observations

California orders moratorium on foreclosures and evictions

State Issues Foreclosure Mortgages Covid-19 California

State Issues

On March 16, California Governor Gavin Newsom issued Executive Order N-28-20 requesting that financial institutions implement an immediate moratorium on foreclosures and related evictions arising from the nonpayment of rent or mortgage payments due to a substantial decrease in income or increase in medical expenses caused by the Covid-19 pandemic.

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