Forclosure

[gmnicola]

What is the name of your state?What is the name of your state?
California.

Following a non-judicial forclosure, what if any, rights does a morgagee have in obtaining his/her property back.

Property was owner financed and vacant.

Is there a statues of limitation.

 

[Happy Trails]

What is the name of your state?What is the name of your state?
California.

Following a non-judicial forclosure, what if any, rights does a morgagee have in obtaining his/her property back.

Property was owner financed and vacant.

Is there a statues of limitation.

What stage are you in?

California Foreclosure Timeline

The following time-line is applicable for California Non-Judicial 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
Record Notice of Default

Within 10 business days
Mail and publish Notice of Default

Within 1 month
Mail Notice of Default

After 3 months
Set sale date

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

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

14 days before sale date
Record Notice of Sale

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

5 business days before sale date
Expiration of right to re-instate the loan

Sale date
Property is sold to highest bidder

 

[gmnicola]

Beyond the Sale Date.

 

[Happy Trails]

Beyond the Sale Date.

**If someone purchased it, I think your SOL.

However, I'm not a lawyer---but I did stay at a Holiday Express last night.

 

[gmnicola]

As far as I know the owner has the property back and has relisted it with a broker.

 

[HomeGuru]

What is the name of your state?What is the name of your state?
California.

Following a non-judicial forclosure, what if any, rights does a morgagee have in obtaining his/her property back.

**A: the mortgagee is the mortgage lender and the borrower property owner is the mortgagor. You got it backwards.
*********

Property was owner financed and vacant.

**A: not relevant. If you are asking about a non-judicial foreclosure between the Seller and Buyer on an owner financed property, then use the terms Seller and Buyer. What type of foreclosure are you asking about and who exactly are the parties?
*******

Is there a statues of limitation.

**A: no.

 

[gmnicola]

It's about a non-judicial foreclosure between the Seller and Buyer on an owner financed property where I'm the Buyer.

 

[herkxena]

Re: foreclosure

It's about a non-judicial foreclosure between the Seller and Buyer on an owner financed property where I'm the Buyer.

Was the foreclosure in your name (you were named in the Notice of Default and Notice of Sale)? Or, did you buy this property at the foreclosure auction.

If the foreclosure was in your name, you lost all rights to the property the minute the foreclosure auction was held. There is no right of redemption in California.

If you purchased the property at the foreclosure auction, the previous owner has no right to redeem the property.

 

[gmnicola]

Thank You all for your help in this matter. I believe my questions have been answered. I think I speek for all of us who have legal questions for you when I say, WE REALLY APPRECIATE YOUR HELP.

 

[Happy Trails]

Thank You all for your help in this matter. I believe my questions have been answered. I think I speek for all of us who have legal questions for you when I say, WE REALLY APPRECIATE YOUR HELP.

**Can't speak for me. This site has helped me immensely. It just so happened you didn't have a case. You should have acted before rather than after the foreclosure.