Start a Foreclosure
Our job is to help you. We’ll make the complex foreclosure process simple.
Contact us and we’ll send an estimate of fees and costs, with next steps. We’ll make this simple!
FAQ
Summary. Why we need original documents: The Substitution of Trustee is a notarized document, which needs to be recorded. Counties require original docs. We perform electronic recordings, but our agreement with California counties require we keep originals. The Declaration of Compliance (2923.5) does not need to be notarized, but will be recorded with the Notice of Default. We can draft those documents for you (free of charge), provide detailed instructions, and help you every step of the way. We can facilitate electronic signatures on many documents.
To answer questions about fees and costs, an important, early first step is to send us the amount of unpaid principal on the note, the address and amount secured by the Trust Deed. That is sufficient for us to get the preliminary information so we can start your file and email you a Substitution of Trustee form to be notarized, a blank Declaration of Default and Demand for Sale, and a declaration of Compliance with Civil Code 2923.5. We will explain the amount of fees and expenses required to be deposited. You then mail us these documents and deposit. We then file with the County Recorder the required documents with the Notice of Default. This is part of the first stage of foreclosure. After this, unless the borrower cures the default, we proceed with the publication and sale processes.
Does your loan require compliance with Civil Code Section 2923.5? This legislation compels specific contact with the borrower and a waiting period. Let us assist you with all your compliance needs by filling out our Start a Foreclosure form as complete and accurate as possible.
Homeowner Association (HOA lien) foreclosure requests are welcome. HOA foreclosures have various additional requirements before recording a lien, and after the sale during the redemption period. Because errors may void the sale, you would be required to start all over again.
Ongoing clients. Ongoing clients have the option to use our schedule of fees and costs, receive terms for payment of those fees and costs, etc. all to facilitate efficient processing. If you are interested, please let us know.
Are your fees and costs recoverable? Yes. The nonjudicial foreclosure process facilitates recovery of all fees and costs, in addition to the principal and interest required on a Note. However, if the borrower does not cure the default voluntarily, and there is a sale, if the sale proceeds are not sufficient to cover the entire debt, with fees and costs, your overall recovery could be limited. Therefore, it helps to understand the equity available in the subject property, and make an educated guess on what amount of money will result from the sale.
For an Estimate of Foreclosure Fees and Expenses Email Us, click here or call 805-410-4320 (email is best for quicker response). We can provide an estimate of fees and expenses based on the unpaid principal amount. If you’re an existing client, you may use your fees and costs schedule to know what amount to send to initiate your foreclosure. If you’re not an existing client, let us know and we’ll help you get started!