Posted on: 03rd Sep, 2007 07:52 pm
what does withdrawl of niotice of election and demand mean? When are these terms used and for what purpose
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.
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.
But who files the notice?
"But who files the notice?"
Lender
Lender
"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.
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.
How many days do you have form Notice of Demand to Public Trustee sale
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
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
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?
You should contact a real estate attorney and take his opinion in this matter.
If this happens, is the owners liable for any of the remaining debt?
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
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
It was me above... Just forgot to log in :-)