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 beckit3
Joined: 03 Sep 2007
Posts: 1
1.30 Dollars($)
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 Posted: Mon Sep 03, 2007 7:52 pm Post subject: what does notice of election and demand mean? |
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| what does withdrawl of niotice of election and demand mean? When are these terms used and for what purpose |
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larry
Joined: 27 Jun 2007
Posts: 3328
474.61 Dollars($)
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| Posted: Mon Sep 03, 2007 8:19 pm Post subject: |
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hi Beckit,
Welcome to the forum.
In the event of foreclosure, a public trustee records a Notice of Election and Demand with the county clerk. He is required to publish this notice in any newspaper of that country where the foreclosure property is located. He should also mail a copy of the notice to the borrower within 10 days of publication. The sale of the property must take place within 60 days after the notice is recorded. |
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Joe34
Guest
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| Posted: Tue Sep 04, 2007 10:38 am Post subject: |
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| But who files the notice? |
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miller_st
Joined: 17 Jan 2007
Posts: 917
168.95 Dollars($)
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| Posted: Tue Sep 04, 2007 3:26 pm Post subject: |
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| Quote: | | But who files the notice? |
Lender |
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Niicss
Joined: 03 Oct 2005
Posts: 3222
Location: New Jersey
508.33 Dollars($)
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| Posted: Wed Sep 05, 2007 4:53 pm Post subject: |
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| Quote: | | what does withdrawl of niotice of election and demand mean? When are these terms used and for what purpose |
It is filing of a recorded document by foreclosing attorney with the public trustee to stop the foreclosure process. Please go through the section "Withdrawal and termination" for more information on withdrawal of the notice of election and demand.
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Good is the Enemy of Great. |
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