CALENDAR |
DESCRIPTION |
| After approx 90 days without borrower making a mortgage payment |
Request to initiate foreclosure received by TD. Default documents prepared and sent for signature/recording (Substitution/Notice of Default). TSG ordered from title company. |
| Start (day 1) |
Notice Of Default recorded with County Recorder. |
| Within 10 business days |
Notice of Default and Important Notice are mailed to Trustor /new owner on the Deed of Trust at the property address, address on Deed of Trust and any other addresses known to lender/trustee. Notice is also sent to any parties with a recorded Request for Notice as required under Section 2924 (b) (1). |
| Within 1 month |
TSG is received and reviewed. Notice of Default mailed to all entitled parties with an interest in the property (ie, new owners/junior lien holders) as required under Section 2924 (b) (1). |
| 3 months after recordation of Notice of Default |
Notice of Trustee's Sale is prepared and sent for publication. |
| 25 days prior to Sale Date |
Send Notice Of Sale to IRS (if applicable). |
| 20 days prior to Sale Date |
Begin publishing Notice Of Sale in an Adjudicated Newspaper. (Must run once a week for 3 consecutive weeks). |
20 days prior to Sale Date |
Post the Notice of Sale on the property itself. Most posting services will photograph the posting location for your records. |
| 20 days prior to Sale Date |
Mail Notice of Sale to the Trustor and all other parties to which the Notice of Default was mailed as required under Section 2924 (b) (1). |
| 14 days prior to Sale Date |
The Notice of Trustee's Sale is recorded in the County Recorder's office. |
| 5 days prior to Sale Date |
The borrower's right to reinstate expires. |
| On sale Date |
The property sale is postponed to a new sale date or the property is sold to high bidder, or the property reverts to the foreclosing beneficiary. |
