Legal Question in Real Estate Law in California
CA Nonjudicial Foreclosure - Need the Court to Step In
This gets more complex, but I will get to the most pressing issue.
Bank forecloses for $1,900 of a 100K note on a 550K house.
Bank makes it very difficult to work out the issue, which I am happy to do. Meanwhile I have a serious problem that lands me in the hospital, and had less than a week running on the Notice of Default.
I had read a short bit of advise on a web site of another county's bar association to the effect that ''If you pay the precise amount given on the Notice of Default on or before three months has lapsed on the Notice, your home can not be sold.''
The bank has been so unhelpful, I've come to believe that they want the house and are stalling until they can go to the next stage and make it easier to sell.
Given the bit from the web site above, I present a cert. ck. in the amount of the Notice of Default to a bank branch which normally accepts payments. Branch refuses b/c record from Foreclosure Unit instructs them not to accept payment. This was 2 days *before* the Notice time had run. First, could they legally refuse a payment under the circumstance? Second, can I pay the Noticed amount into Court and request a a TRO so that I can get a serious conversation about working out this small issue?? Thanks.
2 Answers from Attorneys
Re: CA Nonjudicial Foreclosure - Need the Court to Step In
Look at the Notice of Default and/or the Notice of Trustee's sale...they always tell you WHERE to pay the money and it is always to the TRUSTEE who is conducting the sale and they are the ones that have to verify that you have tendered the funds...payment to some bank somewhere is not the proper way to do it...no, you cannot pay into court as this is not a court procedure, it is a non-judicial procedure. If you want to stop the sale, follow the procedures on your notices!
Re: CA Nonjudicial Foreclosure - Need the Court to Step In
If you read the Notice of Default more carefully, you would have noticed that the amount necessary to cure the default included accruing interst, costs and attorney fees. You do have a right to know what that amount is. The notice of default gives you a phone number of the trustee to call to obtain that current amount.
Having said that, you may be able to claim you stood capable, ready, and willing to cure the default, but were misled and prevented from doing so by the misrepresentations of the lender and its agents.
If the house has not sold yet, or is sold back to the bank, you may be able to obtain a TRO or injunction, so that you can cure your default and keep the house. But keep in mind that attorney fees for such an action are not cheap.
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