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what does notice of election and demand mean?

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Icon Mini Profile beckit3





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Post 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
Icon Mini Profile larry





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Post 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.
Joe34

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Post Posted: Tue Sep 04, 2007 10:38 am    Post subject:
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But who files the notice?
Icon Mini Profile miller_st
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Post Posted: Tue Sep 04, 2007 3:26 pm    Post subject:
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Quote:
But who files the notice?


Lender
Icon Mini Profile Niicss
Niicss




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Post 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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Denverdean

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Post Posted: Fri Dec 31, 2010 12:04 pm    Post subject: Notice of Election and Demand
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How many days do you have form Notice of Demand to Public Trustee sale
Icon Mini Profile smithsussane
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Post Posted: Fri Dec 31, 2010 9:41 pm    Post subject:
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Hi Denverdean!

Welcome to forums!

I guess your property is being foreclosed by the lender. After the foreclosure sale is over, you'll receive a notice of eviction from the lender. The time period within which you'll have to leave the property will be mentioned in that report.

Feel free to ask if you've further queries.

Sussane
ee

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Post Posted: Tue Feb 01, 2011 6:00 pm    Post subject: Notice of Election and Demand
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Is there anyway possible to stop them from doing Notice of Election and Demand. I gave the Lender notice of proving the note with my original blue ink signature and they did not after 30 days I asked again, once again they did not respond. I then gave them three days after I sent a Modification of Deed of Trust along with Revocation of Power of Attorney and still nothing. I gave them another 3 days of Notice of Default, still nothing from the Lender. I then had all three documents recorded with the County Recorder with the Lender & Mers removed from the Deed of Trust showing zero amount owed with the Deed of Trust in my name only and I've put someone else on Title and taken me off. Can they still do a Notice of Election and Demand?
Monaliza

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Post Posted: Wed Feb 02, 2011 12:50 am    Post subject:
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You should contact a real estate attorney and take his opinion in this matter.
harlee

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Post Posted: Tue Mar 01, 2011 4:21 pm    Post subject: withdrawl of notice of election and demand
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If this happens, is the owners liable for any of the remaining debt?
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Post Posted: Tue Mar 01, 2011 10:26 pm    Post subject:
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Hi harlee,

As far as I know, if the owner of an evidence of debt which is secured by a deed of trust files with the public trustee, prior to the sale, a written withdrawal of the notice of election and demand for sale, the foreclosure proceedings shall thereupon terminate.

Thanks
Icon Mini Profile jameshogg
jameshogg




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Post Posted: Tue Mar 01, 2011 10:33 pm    Post subject:
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It was me above... Just forgot to log in Smile
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