You will receive regular updates and be emailed copies of the following information: Recorded Notice of Default Status of property taxes, insurance and any senior lien holder Any valid attempt by the borrower of a work out plan Trustee’s Sale Guarantee Recorded Notice of [...]
If the borrower reinstates the loan, or enters into an Agreement, the foreclosure fees, costs and expenses are collected from the borrower. The lender(s) is/are responsible for the prompt payment of all foreclosure fees, costs and expenses upon written demand should the property revert [...]
The costs associated with the foreclosure process are set by Civil Code and are generally equal across all service providers. In addition to Trustee’s Fees (generally 1% of the unpaid principal balance) there will also be fees for recording, mailing, posting and obtaining a [...]
A borrower can be considered in default whenever they fail to carry out the terms of the note and deed of trust in any way. This includes, but is not limited to the following: Failure to make their monthly payments as scheduled Failure to [...]
A lender can begin a non-judicial foreclosure (without proceeding with a lawsuit to foreclose) when a borrower defaults under the terms, covenants and conditions contained in the Note and/or Deed of Trust. Most often a non-judicial foreclosure is begun because a borrower has not [...]
If you are unable to afford the current contractual payment and there are no other liens reflected on title to the property, we may allow you to deed the property back to us to avoid the time and expense of a foreclosure action. We [...]
Sometimes the best resolution to a default is the sale of the property. You have the right to sell the property to someone else up until the foreclosure sale date. If the potential buyer’s offer is not sufficient to pay off your loan, we [...]
A loan modification changes the repayment terms reflected in the note. If you are unable to pay the total amount outstanding or your loan has matured, this may be an option. Your loan could be modified to extend the term, convert an adjustable rate [...]
Your Lender may grant you additional time to catch up on past due payments under an agreement called a forbearance plan. These plans are normally limited to a period of three to six months. You may be required to submit current financial information to [...]
Note Servicing Center, Inc., cannot provide legal advice to you. Please visit the link on our home page for important links to Government websites structured to assist you in times of financial hardship. There are many options that may be pursued as an alternative [...]
