Antioch California Notice of Default and Election to Sell Under Deed of Trust is a legal document that signifies the initiation of foreclosure proceedings on a property in Antioch, California. This notice serves as an official communication from the lender to the borrower, typically sent after the borrower has defaulted on their mortgage payments. It provides an official notification of the lender's intention to sell the property under the terms outlined in the deed of trust. Keywords: Antioch California, Notice of Default, Election to Sell, Deed of Trust, foreclosure proceedings, borrower, lender, mortgage payments. There are two main types of Antioch California Notice of Default and Election to Sell Under Deed of Trust: 1. Judicial Foreclosure: In this type of foreclosure process, the lender files a lawsuit against the borrower in court to obtain a court order to foreclose on the property. The Notice of Default serves as the first step in this process, alerting the borrower of their default and providing them with an opportunity to rectify the situation before the lender moves ahead with the foreclosure. Keywords: Judicial Foreclosure, lawsuit, court order, opportunity to rectify. 2. Non-Judicial Foreclosure: In this type of foreclosure process, the lender follows a streamlined procedure outlined in the deed of trust, which includes the issuance of a Notice of Default and Election to Sell. Unlike judicial foreclosure, the non-judicial process typically does not involve court intervention. The notice informs the borrower of their default and informs them that the lender intends to sell the property at a public auction if the default is not cured. Keywords: Non-Judicial Foreclosure, streamlined procedure, public auction, default cure. Both types of notices are crucial in providing borrowers with an opportunity to address their default and potentially avoid foreclosure. It is important for borrowers to carefully review the notice, understand their rights and options, and take appropriate action, such as reaching out to their lender or seeking legal advice. Failure to respond or rectify the default within the specified time frame mentioned in the notice may result in the lender proceeding with the foreclosure sale, which can lead to the loss of the property.
Antioch California Notice of Default and Election to Sell Under Deed of Trust
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How to fill out Antioch California Notice Of Default And Election To Sell Under Deed Of Trust?
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