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Here is some common questions answered about the Foreclosure Process:

Foreclosure 101

Print and complete the Declaration of Default, and return to Foreclosure Specialists, LLC, along with the ORIGINAL Note and  Deed of Trust, and the $1000.00 deposit required, as shown on the cover letter, to the address shown below.

P.O.Box 994465

Redding, CA 96099-4465

For UPS and FED Ex delivery use our physical address!!!

Click on each link to open the printable PDF forms.

Instructions and Required Documents to start Foreclosure

Dec. of Default for Owner Occupied Single Family Res. Required to Start Foreclosure if the Owner is living on property and its a First Deed of Trust.

Dec of Default Non Owner Occupied/ Vacant Land Required to Start Foreclosure if any thing other than Owner Occupied Single Family Resident including Commercial property.

Declaration for NOD    Required to Start ALL Foreclosures

 

 

INFORMATION FOR TRUSTEE TO COMMENCE NON JUDICIAL FORECLOSURE PROCEEDINGS

DECLARATION OF DEFAULT AND DEMAND FOR SALE

  1. THE REASON FOR COMMENCING FORECLOSURE:( CHECK ONE)

A.____________ PRINCIPAL

____________ INTEREST

____________ PRINCIPAL AND INTEREST

in the amount of $______________, due on the ________ day of ________________, _______

and all subsequent installments. The note provides for a late charge after ______ days of $________ on each past due installment. ( If no late charge, indicate NONE).

OR:

B. Failure to pay the entire balance of principal, together with interest due thereon, which principal and interest became due and payable on ___________________, __________.

AND/OR:

C.Failure to pay:

___ Property taxes due for the fiscal year(s) ___________

Condition of Reinstatement?____ YES____ NO

___ Fire insurance premium due on _______________, in the amount of $_____________________

Condition of Reinstatement____YES____NO

­­­­___ Payment due on senior encumbrance of $_________________, due on ___________________

Condition of Reinstatement?____YES____ NO

___ Balloon notification given?____Yes____NO____

___Other________________________________________________________________________

AND/OR

D.Advances:

I, the undersigned, have advanced $___________________, on the _______day of______________

_______, ________, to________________________________, for payment of ________________.

  1. INFORMATION REGARDING THE NOTE

A.The present unpaid principal balance is $ _________________ ( VERY IMPORTANT THAT THIS AMOUNT BE AS ACCURATE AS POSSIBLE, FORECLOSURE SPECIALISTS CAN NOT BE RESPONSIBLE FOR CALCULATING UNPAID PRINCIPAL BALANCES), together with interest at ______ % per annum; interest is currently paid to the _____ day of __________, _________.

BI, the undersigned, have accepted partial payment since the default occurred:

____ YES____ NOIf yes, the amount received is $___________________

C.Is the interest rate on the subject note 10% or more? ____YES ____ NO

1.I, the undersigned, was:____ the seller,____ a third party lender.

2.The obligation, (note) was arranged by a licensed real estate broker ?

____YES____NO

D.Is the subject note and Deed of Trust all-inclusive, (wrap around), wherein a prior note or notes

have been included in the amount of the all-inclusive note:____YES ____NO.

If yes, please provide the additional information:

1.Name of Beneficiary: _________________________________________________________

Address: __________________________________________________________________

This loan is: ______Delinquent or ______ Paid current.

The original principal balance was $ _____________________

The current principal balance is$ ______________________

( List additional underlying Beneficiaries on reverse, if necessary. )

3.INFORMATION REGARDING THE SUBJECT PROPERTY:

A.

____ Single family residence- Owner occupied____ Yes____ No

____ Mobile/Manufactured home- Is unit to be included in Trustee’s Sale ? ____Yes____No

____ Multiple units _____ Number of units

___Property Address______________________________________________________________

____ Commercial property

____ Vacant Land – If vacant, general directions, or any information that would help locate property.

____________________________________________________________________________________

____________________________________________________________________________________

B.

The subject property is used for rental purposes, ( ie ) , income property:____Yes____NO .

If yes, I , the undersigned, intend to exercise the Assignment of Rents provision under the Deed of

Trust:____Yes or ____No. If yes, I, the undersigned, understand that an amount will be deposited with the

Trustee, and credited to the default amount.

  1. INFORMATION REGARDING THE TRUSTOR AND/OR PRESENT PROPERTY OWNER.

A.I, the undersigned, know of no other address of the Trustor/Owner other than the address shown

on the subject Deed of Trust, except the following:_____________________________________

________________________________________________________________________________

B.The present property owner is:_____________________________________________________

C.Current Trustor if different from Deed of Trust:________________________________________

D.Present owners mailing address is :________________________________________________

E.Phone number of Owner/Trustor:__________________________________________________

F.The present property owner is in the military:____YES____NOIf yes, did the present

property owner acquire said property prior to entering military service ? ____ YES____NO

G.Any pending litigation between you and the property owner(s)?____ YES____NO

H.Names of Attorneys or Law Firms (if known) which is or has represented the current Record

Owners: ________________________________Phone Number________________________

Address:_____________________________________________________________________

I.I, the undersigned, have no knowledge of any bankruptcy proceedings involving the Trustor,

present property owner, or junior lienholder except as follows: Bankruptcy Number___________

Debtor:_______________________ Bankruptcy filed on: ___________ in the______________

District. Submit all bankruptcy notifications_______________None Known __________

In the event of a bankruptcy or temporary restraining order filed, we, the undersigned Beneficiary(s), agree to pay all fees due Foreclosure Specialists LLC. We understand Foreclosure Specialists LLC are not Attorneys and it is our responsibility to moniter and file all

necessary forms with the bankruptcy court.

J.Was the loan negotiated in a foreign language ?____YES____NO

THE UNDERSIGNED HEREBY DECLARES ALL SUMS SECURED BY THE DEED OF TRUST

IMMEDIATELYDUE AND PAYABLE. YOU ARE HEREBY REQUESTED AND DIRECTED TO SELL THE PROPERTY NOW COVERED THEREBY TO SATISFY THE OBLIGATIONS SO SECURED BY THE DEED OF TRUST. RECEIPTS FOR SUMS ADVANCED ARE HEREBY HANDED TO YOU. THE UNDERSIGNED WILL DELIVER TO YOU RECEIPTS FOR ALL SUMS, IF ANY, HEREAFTER PROPERLY ADVANCED OR EXPENDED UNDER THE TERMS OF DEED OF TRUST IMMEDIATELY UPON PAYMENT THEREOF. IF, PRIOR TO SALE, PAYMENT IN FULL BE MADE OF ALL SUMS HEREIN DECLARED TO BE DUE, AS WELL AS ANY ADVANCES HEREAFTER PROPERLY MADE, OF WHICH YOU HAVE BEEN ADVISED, TOGETHER WITH YOUR FEES AND EXPENSES, YOU SHALL CANCEL THE NOTES AND RECONVEY SAID PROPERTY AS PROVIDED IN THE DEED OF TRUST. THE UNDERSIGNED HEREBY GUARANTEES PAYMENT OF ALL FEES AND EXPENSES OF SAID TRUSTS AND OF THE TRUSTEE PERTAINING TO SAID SALE. IF A TRUSTEES SALE GUARANTEE IS ORDERED AND ISSUED PRIOR TO RECORDING NOTICE OF DEFAULT, THE UNDERSIGNED HEREBY GUARANTEES PAYMENT OF SAID GUARANTEE, AND ALSO AGREES TO PAY ON DEMAND AS WELL AS INDEMNIFY AND HOLD YOU HARMLESS FROM AND AGAINST ALL COSTS, DAMAGES, ATTORNEYS FEES, EXPENSES, OBLIGATIONS AND LIABILITIES OF ANY KIND WHICH YOU MAY INCUR OR SUSTAIN BY REASON OF THIS DEFAULT AND FORECLOSURE PROCEEDING AND/OR THE SALE OF THE TRUST PROPERTY BY REASON OF ANY ACT OF OMISSION OR COMMISSION ON THE PART OF OTHERS AND THE UNDERSIGNED FOR WHOM YOU ARE ACTING AS AN AGENT.

We, the undersigned, understand that the $500.00 deposit held by Foreclosure Specialists LLC isonly a deposit and is not sufficient to cover the Trustees fees, costs and expenses incurred by the recording of a Notice of Default.

We further hereby declare that we have read and understand the entire contents and do attest that all of the statements and information provided on this form are true and correct.

Dated _________________, ________

SIGNATURE (S)OFBENEFICIARY (IES)HOME TELEPHONE #

__________________________________________________________

__________________________________________________________

MAILING ADDRESS OF BENEFICIARY (IES)FAXAND/ORCELL#’S

______________________________________CELL#____________________

______________________________________FAX#____________________

Email address _______________________________________________________

THE FOLLOWING SPACE IS PROVIDED FOR COMMENTS AND/OR COMPLELETION OF ANY STATEMENT OF INFORMATION PERTAINING TO ANY OF THE NUMBERED ITEMS FOUND ON THE FIRST TWO PAGES OF THESE INSTRUCTIONS.

ITEM NUMBERINFORMATION

California has enacted SB 1137 that takes effect July 8th 2008.

The new law affects loans secured by ‘owner occupied residential real property’ made between January 1st, 2003 and December 31st, 2007 and will remain in effect until January 1st, 2013.

The new law requires a lender to contact the borrower in person or by telephone 30 days in advance of the recording of the Notice of Default, in order to assess the borrower’s financial situation and explore options for the borrower to avoid foreclosure. During the initial contact, the lender shall advise the borrower that he or she has the right to request a subsequent meeting and, if requested, the lender shall schedule the meeting to occur within 14 days.

The notification requirements are as follows.

1.Sending a first class letter that includes an 888 toll free number to a HUD-certified housing counseling agency. The local agency number is: 888-995-4673

2.After the letter has been sent, the lender shall attempt to contact the borrower by telephone at LEAST 3 times at different hours and on different days. Please make a note of the attempted calls or if contact is made.

3.If the borrower does not respond within 2 weeks after the telephone call requirements have been satisfied, the lender shall then send a certified letter, with return receipt requested.

Contact verification.

Date borrower surrendered property: ____________________________________

Date first class letter was mailed:_____________________________________

Phone contact:Date________/_________/________Time__________am/pm

Phone contact:Date________/_________/________Time__________am/pm

Phone contact:Date________/_________/________Time__________am/pm

Subsequent meeting scheduled: ________________________________________

Date certified letter mailed: ___________________________________________

Signed under penalty of perjury at __________________, California this _______

day of ________________________, 20____.

Signature of lender or lenders agent.