You can start a non-judicial foreclosure in CA and AZ if you (i) are the beneficiary, or assigned beneficiary of a Note (a promise to pay) (ii) the Note is secured by a Deed of Trust which encumbers real property and (iii) the borrower has defaulted under the terms of the Note , such as failing to pay the monthly payment, taxes, or insurance or other reasons which may be defined as a default under your loan documents
What will it cost to foreclose?
A foreclosure fee is limited pursuant to the California Civil Code. Costs that are charged by ATTYLSI are the costs actually incurred, i.e. such as title fee, county recorder fees, notary fee, posting, publication, and mailings. Your foreclosure fees and costs may be added to the amount to reinstate or payoff the loan if provided for under your loan documents.
How long will it take to foreclose?
In CA – the minmium statutory time to foreclose is approximately 121 days and in AZ approximately 91-92 days. These timeframes may change depending on other factors unique to your foreclosure or due to holiday periods, publication requirements, etc.
How is the property sold?
The property is sold by an auctioneer which is retained by the foreclosure trustee and who will bid on your behalf, if requested. The date, time and place of the sale will be published in a newspaper of general circulation, on a website and a Note recorded in the office of the county recorder where your property is located.
How do I know what to bid?
The professionals at ATTYLSI will explain the bidding process to you and you can make a determination of the type of bid that wish to make.
How do I get paid?:
If there is a successful bidder at the foreclosure sale, the auctioneer will collect the monies, in certified funds, and they will be distributed to you by the foreclosure etrustee. If there is not a successful bidder, the property will revert back to you as the foreclosing lender for the amount you bid. As a beneficiary of the loan you can “credit bid” up to the amount of your debt.
What if a Bankruptcy is filed?
If a Bankruptcy is filed all foreclosure activities are required to be stopped. ATTYLSI utilizes the services of Bankruptcy counsel to assist lenders and render advice concerning your legal alternatives.
I want to start a foreclosure what do I need to do?
You can click and complete the FORECLOSURE ORDER FORM link which will forward your request to ATTYLSI. We will then contact you via email or telephone to discuss the foreclosure process and instruct you on all documents necessary to commence the foreclosure. Due to the numerous amount of recently enacted CA foreclosure laws we prefer to discuss them with you to see if all pre-foreclosure compliance has been completed.