From the filing of a notice of default is there a time limit for the trustee sale notice to be filed or actually take place in California?

Asked by Henry Quiroz, Riverside, CA Fri Apr 13, 2012

Original Notice of default was filed 5-1-2009 and trustee sale date is 4-16-12.

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6
Joe Diamos, Home Buyer, Alta Vista P.u.d., Austin, TX
Wed Jul 10, 2013
I think the NOD is good for one year.... then if they have not foreclosed and taken back the house....they would have to file another NOD all over again....
0 votes
Dominique Ta…, , Riverside, CA
Sat Apr 14, 2012
The following time-line is applicable for non-judicial California Foreclosures under a Deed of Trust. Foreclosures begin with the Trustor (borrower) not making the monthly payments to the Beneficiary (Lender), the first missed payment is technical default, but in practical terms, most Beneficiaries do not begin the process until the third payment is missed. If the Beneficiary cannot resolve the defaulted payment amount with the Trustor through Forbearance or other Loss Mitigation measures, the Beneficiary will instruct the Trustee to begin Foreclosure proceedings.

Day 1
Notice of Default is filed with the county recorder.

Within 10 business days
Mail Notice of Default to borrower address

Within 1 month
Mail Notice of Default

After 3 months
Set Trustee Sale date

25 days before Trustee Sale date
Send notice of sale to I.R.S.(when necessary)

Within 10 days from 1st publication of Trustee Sale
Send beneficiary request for property directions

14 days before Trustee Sale date
Record Notice of Trustee Sale

7 days before sale date
If court action, 7day rule may apply

5 business days before sale date
Expiration of borrower's right to re-instate the loan
0 votes
Terry Hammill, , California
Fri Apr 13, 2012
Hello Seeker,

There is no formal date of expiration on a NOD. It will be active until the lender records a rescission or the loan is settled.

In some cases where a Notice of Default is is delayed, say 20 years as you suggested, there may be grounds for a waiver. However these are legal matters that would need to be addressed by an attorney rather than a Real Estate professional.

Hope that this helps,
Terry Hammill

RE Market Solutions – Helping Real Estate Professionals and their Clients by providing solutions to foreclosure.
0 votes
Henry Quiroz, Agent, Riverside, CA
Fri Apr 13, 2012
Actually what is the maximum time limit before a new Notice of default is required. If someone files a notice of default, its not good for 20 years right? How long is that original notice of default good before the trustee sale? 1 year, 3 years, 50 years?
0 votes
Karen Whitman, Agent, Riverside, CA
Fri Apr 13, 2012
Yes, the time between Notice of default and the Notice of Sale is a minimum of 90 days. Then the notice of sale must be published before the sale can happen.

Of course the lender has the power to delay the sale so the time will vary.

Karen
0 votes
Kevin and Ju…, Agent, Wildomar, CA
Fri Apr 13, 2012
The short answer is 3 months from posting the NOD they can set a Trustee's Sale date, but it seems that you have either been in some form of repayment plan or trying to get a loan mod which delayed the filing.

Let me know if I can help -

Kevin McLaughlin, Broker Owner
Berkshire West Realty
http://www.BerkshireWestRealty.com
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