This form serves as a notice of default to the mortgagor for payments that are past due. The default notice states that while the property is in foreclosure, the mortgagor is still responsible for paying other obligations required by the note and the deed of trust. If the mortgagor fails to make future payments on the loan or other financial obligations, the beneficiary or the mortgagee may insist that he/she do so in order to reinstate the account into good standing. The form also emphasizes that the mortgagor could lose his/her rights in the property if prompt action is not taken.
Notice Of Default California With Agreement
State:
California
Control #:
CA-02000
Format:
Word;
Rich Text
Instant download
Description
Free preview
How to fill out California Notice Of Default And Election To Sell Under Deed Of Trust?
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FAQ
In law, a default is the failure to do something required by law or to comply with a contractual obligation. Legal obligations can arise when a response or appearance is required in legal proceedings, after taking out a loan, or as agreed in a contract; failure to carry them out puts one in defaults of the obligations.
When a party fails to respond to a divorce petition within the time proscribed by law, the party is "in default." This can also happen if a party fails to show up for a court hearing. The other kind of default is a "default judgment" -- generally, the last step in finalizing an uncontested divorce.
Default without agreement The default without agreement, often referred to as a true default case occurs in a situation wherein, neither your spouse responds to your divorce petition, nor you two have any written agreement for property division and custody related issues.
Number 1: A default with agreement means the other party didn't respond but they are going to do everything they would normally do if they're going to be involved and do the paperwork just as they would if they did respond but they're not going to have to pay a filing fee.
The foreclosure process is defined by California civil code 2924 and begins with the filing of a Notice of Default (NOD) with the county recorder. Once a borrower is at least 90 days behind in making mortgage payments, the lender will file a Notice of Default with the court of the county where the property is located.