Your lender is required to give you notice within 10 days of filing a Notice of Default in California. This usually happens once you are 90 days late on your mortgage. Once you are officially in default on your loan, a Notice of Default will be filed with the court by your lender. If you exercise this right, the meeting must be held within 14 days. The lender is also required to advise you that you have the right to request a meeting to learn ways to avoid foreclosure. Your lender cannot begin foreclosure until at least 30 days after the initial contact or after doing their due diligence to contact you. Your lender is required to contact you and anyone else on the loan to assess your finances and explore your options before foreclosure can even begin. The first step of foreclosure in California happens when you miss a payment. A foreclosure defense law firm in California can help you explore your options to stop the foreclosure or buy time to get out of default. If you are facing foreclosure, it’s important to understand that you do have options. Receiving the Notice of Default can throw your life into turmoil and leave you uncertain of what, if anything, you can do to stop the foreclosure and save your home. Notice of Default – California Foreclosureįacing the loss of your home can be a gut-wrenching experience.
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