Home Equity Line of Credit (HELOC)
A variable-rate loan secured through equity in a borrower’s property in which a lender agrees to lend a maximum percentage of the property equity for an agreed upon period to a borrower for use at the borrower’s discretion. Similar to a line of credit, the borrower is not granted a lump sum, but may borrow, during the established draw period, sums up to the total amount of the promised advance and is only required to repay the amount drawn plus interest on this amount.
Starting a foreclosure is as easy as
- Click on the "Get Started Now" button below.
- Complete the secure online form, or download a printable version.
- Submit the form securely via the website, e-mail, fax, or mail it to us.
What if my loan is a 2nd Deed of Trust and sometime during this process the 1st Deed of Trust records a Notice of Default?
The process is the same for that Notice of Default. The borrower, or current owner has 3 months plus 21 days to reinstate or payoff the loan. After discussion with legal or tax counsel, it is usually prudent to bring this senior loan current. This advance to a senior can be included in your payoff amount. While you should make attempts to contact the lender, it requires time and patience. We suggest contacting the lender after obtaining a Loan Number, to obtain information or amounts that may be required to bring the loan current (out of default) or to pay if off.
2009 To 2014 Foreclosure Statistics for San Luis Obispo County, California
This document details the number of Notice of Defaults, Notice of Sales, and Trustee's Deeds filed in San Luis Obispo County, CA from January 2009 through 2014. For review of data prior to 2009 please contact our office.