New law clarifies homeowner foreclosure protections provided by mortgage servicers
SB 1146 clarifies some foreclosure protections while letting mortgage servicers off the hook for others.
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Tag: trustees sale
Foreclosed out homeowners not to be contacted for 90 days regarding surplus funds
An owner entitled to surplus funds remaining from the foreclosure sale of their residence are chased by individuals attempting to make claim on the surplus funds. Now these surplus fund chasers are barred from contacting the owners for 90 days after the trustee’s deed is recorded to better protect California homeowners in a vulnerable position.
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Form-of-the-Week: Notice of Trustee’s Sale & Summary of Key Information and Notice of Sale — Forms 474-2 and 474-1
A trustee uses RPI Forms 474-2 and 474-1 when posting a Notice of Trustee’s Sale (NOTS) on a residential property.
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Mortgage Concepts: Trustee’s Sale: Sold to the Highest Bidder
This video explains the procedures followed for a trustee’s sale in California.
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MLO Mentor: Notice of Default & Notice of Trustee’s Sale, Part II
This article continues our discussion of the Notice of Default (NOD) and Notice of Trustee’s Sale (NOTS).
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Form-of-the-Week: Request for Notice of Default (NOD) and Notice of Trustee’s Sale (NOTS) – Forms 412 and 474
RPI Forms 412 and 474 notify interested parties of a default.
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DRE Hot Seat: Broker’s bid rigging scheme comes back to bite
This article is part of an ongoing series covering violations of real estate law. Here, the DRE denied outright reinstatement of a broker license to a broker whose license the DRE had originally revoked due to his involvement in a bid rigging scheme.
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Sold to the Highest Bidder
The trustee’s acceptance of the final and highest bid from the successful bidder at a nonjudicial foreclosure sale.
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The Power-of-Sale Provision
The mechanics of a nonjudical foreclosure sale under the power-of-sale provision contained in a trust deed or other security device.
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DRE Hot Seat: Raymond Alfred Grinsell
A licensed real estate broker violated both California Real Estate Law and the federal Sherman Antitrust Act by engaging in a practice of bid rigging.
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May a trustee foreclose on a property without verifying the validity of the underlying mortgage?
Citrus El Dorado, LLC v. Chicago Title Company Facts: A developer takes out a mortgage to fund...
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Is a commercial tenant’s leasehold interest protected when the property is sold in a bankruptcy trustee’s sale?
In the Matter of Spanish Peaks Holdings II, LLC Facts: A commercial landlord and a tenant enter...
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