When the San Diego consumer defaults on any obligation of the deed of trust, the note, or any other contract or obligation secured by the deed of trust, the lender has the right to declare a default and to proceed with a\u00a0San Diego foreclosure\u00a0<\/b>of the deed of trust pursuant to the private power of sale. Having made the decision to foreclose, the lender can demand that the trustee proceeds to sell your San Diego home.<\/p>\n
As a general rule, the\u00a0San Diego foreclosure<\/b>\u00a0process begins with a demand on the trustee by the lender that the trustee commences the foreclosure in San Diego. The trustee usually requires that the the borrower deliver to the trustee the original note, the deed of trust, any assignment of the note, a “statement of condition” that describes the terms of the note or secured contract, the unpaid principal balance, the defaults by the trustor, and a written request that the trustee commence a San Diego foreclosure. However, the foreclosure sale in San Diego is not invalid if the trustee has not received the original note, deed of trust, or a statement of condition.<\/p>\n
The purpose of the notice of default is to provide notice to the trustor, the trustor’s successors, junior lienors, other interested persons, and notice to the world that there has been a default and its nature. Its objective is also to inform the trustor of the default and the nature of the default so that the trustor has an opportunity to reinstate the secured obligation. In addition, it establishes the minimum period within which the default can be cured before the property can be sold by the trustee. Because of the importance of the notice to the protection of the rights and property of the trustor, a valid\u00a0San Diego foreclosure<\/b>\u00a0by the private power of sale requires strict compliance with the requirements of the statute. A trustee’s sale which is based upon a defective notice of default is invalid.<\/p>\n
At least three calendar months must elapse after the notice of default is recorded before the trustee can proceed with the foreclosure sale. The statutory period of “three months” means three calendar months. After that time the trustee must give a notice of sale in the required manner before the property can be sold.<\/p>\n
The San Diego notice of sale must contain the following information:<\/p>\n
Call our office TODAY to set up a free consultation with an experienced San Diego bankruptcy lawyer. At Thompson | Wedeking, because we are San Diego bankruptcy lawyers, we will guide you through each step of the Chapter 7 or Chapter 13 San Diego foreclosure process. You can stop any San Diego foreclosure before it starts. Call us at 619.615.0767 for more information.<\/p>\n","protected":false},"excerpt":{"rendered":"
Stop Foreclosure In San Diego – San Diego Foreclosure Attorney When the San Diego consumer defaults on any obligation of the deed of trust, the note, or any other contract or obligation secured by the deed of trust, the lender has the right to declare a default and to proceed with a\u00a0San Diego foreclosure\u00a0of the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[12],"tags":[],"class_list":["post-416","post","type-post","status-publish","format-standard","hentry","category-general-bankruptcy"],"acf":[],"yoast_head":"\n