The present invention relates to light color, shelf-stable liquid compositions of overbased calcium carboxylate soaps and a process for their preparation. The inventive soaps are prepared by neutralizing calcium base in a mixture of two different aliphatic carboxylic acids and carbonating the mixture in the presence of a non-polar hydrocarbon solvent and a polar organic solvent as a promoter under controlled temperature conditions. The overbased calcium carboxylate soaps of the invention contain 20%-90% by weight of C7 to C25 saturated carboxylic acids, which are branched on carbon 2, and between 1% and 20% by weight short chain saturated carboxylic acids. These liquid compositions have light colors and excellent heat stability. They can be used as anticorrosion/antirust additives, and paint dryers and stabilizers, in paints, coatings and lubricants, as well as other applications.