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.

Starting a foreclosure is as easy as
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Frequently Asked Questions
What happens at the sale?

We announce the opening bid and ask the bidders to qualify by identifying themselves and showing the Auctioneer their cash and/or cashier’s checks in an amount sufficient to bid. All American Foreclosure Service conducts the sale and the successful bid is the highest bid over the opening bid. If there are other bidders, the highest bidder gains ownership of the property. We then accept money, obtain personal information and give the successful bidder a receipt. The Trustee’s Deed Upon Sale is prepared and delivered to them by the Trustee within a few days of the sale. The lender receives their money and an accounting as well.

Foreclosure Statistics
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.

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