| 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 adresses 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. |
