DEED OF TRUST | a written document, describing the real property that is being given as security for the repayment of an obligation.
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Costa Mesa California foreclosure
Question: If I file bankruptcy, how will that help me? – Answer: Bankruptcy will stop the foreclosure proceedings and give you time to work out a plan through the courts.
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DECLARATION OF DEFAULT foreclosure
DECLARATION OF DEFAULT | a written document that instructs the trustee to prepare and record a notice of default and if necessary, to sell the secured property in order to satisfy the unpaid obligation. This document does not require the acknowledgment of a notary public or recording and is merely retained by the trustee in their foreclosure file.
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Victorville California foreclosure
Question: How will I know when the foreclosure process begins? – Answer: Once foreclosure proceedings are initiated, a Notice of Default will be recorded at the County Recorders Office in the county in which the property is located and you will be notified by regular mail and by certified mail.
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BREACH foreclosure
BREACH | the failure without legal excuse to perform any promise made in a contract. A breach is stated in the notice of default.
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Flint Michigan foreclosure
Question: How much time is given to vacate the property once the foreclosure process is completed? – Remember, once the Trustee’s sale is complete, the title to the property is given to the new owner and your rights to the property are gone and the new owner gets immediate possession. Note: Foreclosure is a serious matter and it is advisable to contact an attorney for legal advice.
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BID AUTHORIZATION LETTER foreclosure
BID AUTHORIZATION LETTER | your written authorization instructing the trustee to make the initial opening bid at the trustee’s sale on the lender’s behalf. This form will also advise our office of any additional amounts to be included in the opening bid, (total Debt), such as funds advanced by you to pay delinquent real estate taxes, etc.
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Santa Clara California foreclosure
Question: How much time do I have after a Notice of Default is filed? – Answer: Normally, it is ninety days plus twenty to twenty five days for publication. But it would be wise to read all correspondence carefully, and or contact an attorney, to make sure what your rights are and what the time frame is in your situation.
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BENEFICIARY foreclosure
BENEFICIARY | the lender or their successor in interest for whose benefit a trust is created and to whom the debt is owed.
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Inglewood California foreclosure
Question: How many payments can I miss before my lender puts my property in foreclosure? – Answer: It depends on what type of loan you have. Your mortgage contract should state how many payment you can miss before a Notice of Default is filed and sent to you.