This notice informs the mortgagor that he/she is in default under a deed of trust. Unless prompt action is taken, the mortgagors property may be sold at a public sale to the highest bidder. The form also lists the date of the sale, place of the sale, the property address, and the newspaper responsible for printing the notice of the trustee sale.
Riverside California Notice of Trustee's Sale
State:
California
County:
Riverside
Control #:
CA-02001
Format:
Word
Instant download
Description
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How to fill out California Notice Of Trustee's Sale?
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FAQ
Effective January 1, 2021, and amended January 1, 2022 (AB175), California Senate Bill 1079 (?SB 1079?), amends the foreclosure sale process to permit qualified parties a means to purchase property in foreclosure both at and after the foreclosure sale auction, subject to certain requirements.
How To Claim Surplus Funds From Foreclosure Provide proof of prior ownership.Provide verification of funds.Contact the trustee. Once you have contacted your trustee, submit a claim form to the trustee and the court.
You can stop the foreclosure process any time by bringing your payments current all the way up until 5 days before the sale. After that, it's up to the lender to decide if they want to accept payment or continue with foreclosure. You can however, payoff the entire amount all the way up until the point of the sale.
A trustee sale is the sale of real estate property through a public auction. In most cases, trustee sales are only possible because homeowners are in some financial crisis, such as a homeowner defaulting on their mortgage payments and the property going into foreclosure.
Then, any excess proceeds left over after paying off these liens belong to the former homeowner.
When a foreclosure sale generates more money than needed to pay off the lien, the excess proceeds usually go first to creditors in the order of their priority, and second to the owner after creditors are paid in full.
If the owner in default does not pay off the default within a certain time frame, the trustee can schedule a public sale of the property. Foreclosures in California are primarily administered out of court, although court foreclosures are allowed. Out-of-court foreclosures take about four months.
Trustees forward surplus funds to the state's unclaimed property division if they're not able to contact the prior homeowner(s). Californians may inquire about unclaimed surplus funds with the California State Controller at 1 (800) 992-4647.
In order to claim surplus funds, one has to file a Petition for Surplus Funds, explaining (or proving) to the court how you are entitled to those funds. Unfortunately, there are no published court forms available for this process in the State of North Carolina.
The Notice of Sale states that the trustee will sell your home at auction in 21 days. The Notice of Sale must: Be sent to you by certified mail. Be published weekly in a newspaper of general circulation in the county where your home is located for 3 consecutive weeks before the sale date.