First, the lender submits a Notice of Election and Demand (NED) along with other required documentation to the Public Trustee who must record it within ten business days.
A Combined Notice of Sale and Right to Cure and redeem is sent to an “Initial Mailing List”. The Combined Notice is sent again to all parties on a supplemental mailing list 45 – 60 calendar days prior to the first scheduled sale date. This notice must be published for five consecutive weekly publications unless a longer period has been defined in the lien being foreclosed.
For residential properties, the sale date is set to be no less than 110 calendar days and no more than 125 calendar days from NED’s recording; no less than 215 calendar days and no more than 230 calendar days for agricultural properties.
Read more at: http://budurl.com/a3e3. Thanks for reading!
A licensed real estate professional since 1997, Norberto Villanueva, Jr. is a licensed Realtor© and certified Short Sale and Foreclosure Resource (SFR). Contact Norberto for a FREE professional consultation at 877-566-5808. Or go to www.pikespeak-properties.com and register for a personalized home search or a market analysis of your home.
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