What is Foreclosure
County Records Research.com
What is Foreclosure?
Business established in 1981
"Foreclosure is the procedure for enforcing a lender rights once the obligation secured by a Deed of Trust is in Default".
- The Note, Deed of Trust and information on the default are forwarded to County Records Research.
- The notice of default and other necessary documents are prepared for your signature.
- The notice of default is then recorded and the foreclosure time line begins.
- A Trustee Sale Guarantee (TSG) is ordered from a title company.
- The required 10 day and one month legal mailings are sent to the borrower and the junior lien holders.
- If the loan has not been reinstated or paid off within the three-month default period, the lender then authorizes the next step in the foreclosure proceedings.
Publication Period and Trustee's Sale.
- County Records Research will prepare, record and arrange to post the Notice of Trustees Sale.
- The Notice of Trustee's Sale must be published once a week for three consecutive weeks in a newspaper of general circulation near the property location.
- The borrower or junior lienholder may reinstate the loan at any time up to five business days before the sale date.
- If the loan has not been reinstated prior to five business days before the sale, the beneficiary may demand that the entire unpaid obligation be paid in full during that five-day period.
- The trustees sale is conducted.
- A Trustee's Deed is prepared for the lender or outside bidder, then recorded.