Home Buying in Northglenn>Question Details

Wildbill88, Home Buyer in Denver, CO

what is a notice to cure?

Asked by Wildbill88, Denver, CO Tue May 26, 2009

I am working on buying a house and my Realtor tells me they have a notice to cure.

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Hello- A notice to cure is is a legal action to correct a problem, it is a process that the seller would follow to bring a mortgage current, fines current, taxes current etc. They intend to Cure the problem
Thanks!
0 votes Thank Flag Link Thu Sep 26, 2013
WildBill88,

This really is a good question for your Buyer's Agent. It is also a good question for the title company who is processing your transaction. Normally it means the home is in foreclosure and the sellers have filed an 'intent to cure' so they can pay the delinquent amounts (if they decide to and can) in order to get out of the foreclosure situation and keep the home. This rarely happens since the seller is already behind on payments by at least 3 months and probably more. If you are buying the home it could be it means nothing to you or it could represent a hurdle coming up that you need to address right away before you invest any more time and resources into this transaction.

Robert McGuire
Broker/Consultant
Your Castle Realestate
http://about.me/robertmcguire33
0 votes Thank Flag Link Sat Jun 1, 2013
WildBill - I will answer in general terms. A Notice to Cure means that a notice has been served to correct a problem. This can range from mortgage, taxes to something wrong with the structure on the property itself. In terms of rental it may be a Landlord serving notice to a tenant that has put up a dish when not allowed. So type of notice have been given to cure (fix) a problem.

I will say this, as I do not know you or your Realtor, but if I have to take a term to my Buyer, I always make sure I know how to explain it. Just food for thought.
Web Reference: http://www.jdavidryan.com
0 votes Thank Flag Link Tue May 26, 2009
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