Legal Question in Real Estate Law in California
Accepting payment after filing of NOD
If the lender accepts a partial payment after a Notice of Default has been filed, does that void the process? Must the lender refile the Notice of Default and re-start the foreclosure process?
2 Answers from Attorneys
Re: Accepting payment after filing of NOD
No, the default must be cured bt payment of the entire amount due at the time payment is tendered, including unpaid principal, interest, late charges, and all reasonable costs and expenses the creditor has incurred in trying to collect and preparing, issuing, serving and recording the Notice of Default. A part payment can be accepted at the option of the creditor, but will not cure the default nor re-start the foreclosure clock. See Civil Code section 2924c. You may want to look up this section. Unfortunately it is very long and somewhat difficult to understand, even for lawyers, but might be worth you while to read if you are considering curing a default.
Re: Accepting payment after filing of NOD
Nope - you have to cure the entire default before they must withdraw the notice of default.
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