Notice of Default – English

Source: https://dfpi.ca.gov/wp-content/uploads/sites/337/forms/notice/Notice_of_Default.pdf

NOTICE OF DEFAULT SUMMARY OF KEY INFORMATION

The attached notice of default was sent to ___________________________, in (Name of the trustor)

relation to ________________________________________________________________. (description of the property that secures the mortgage or deed of trust in default) This property may be sold to satisfy your obligation and any other obligation secured by the deed of trust or mortgage that is in default. _________________ has, as described in the (Trustor) notice of default, breached the mortgage or deed of trust on the property described above.

IMPORTANT NOTICE: IF YOUR PROPERTY IS IN FORECLOSURE BECAUSE YOU

ARE BEHIND IN YOUR PAYMENTS, IT MAY BE SOLD WITHOUT ANY COURT ACTION, and you may have the legal right to bring your account in good standing by paying all of your past due payments plus permitted costs and expenses within the time permitted by law for reinstatement of your account, which is normally five business days prior to the date set for the sale of your property. No sale date may be set until approximately 90 days from the date the attached notice of default may be recorded (which date of recordation appears on the notice).

This amount is _____________ as of _________________ and will increase until your (date)

account becomes current.

While your property is in foreclosure, you still must pay other obligations (such as

insurance and taxes) required by your note and deed of trust or mortgage. If you fail to make future payments on the loan, pay taxes on the property, provide insurance on the property, or pay other obligations as required in the note and deed of trust or mortgage, the beneficiary or mortgagee may insist that you do so in order to reinstate your account in good standing. In addition, the beneficiary or mortgagee may require as a condition to reinstatement that you provide reliable written evidence that you paid all senior liens, property taxes, and hazard insurance premiums.

Upon your written request, the beneficiary or mortgagee will give you a written

itemization of the entire amount you must pay. You may not have to pay the entire unpaid portion of your account, even though full payment was demanded, but you must pay all amounts in default at the time payment is made. However, you and your beneficiary or mortgagee may mutually agree in writing prior to the time the notice of sale is posted (which may not be earlier than three months after this notice of default is recorded) to, among other things, (1) provide additional time in which to cure the default by transfer of the property or otherwise; or (2) establish a schedule of payments in order to cure your default; or both (1) and (2).

Following the expiration of the time period referred to in the first paragraph of this

notice, unless the obligation being foreclosed upon or a separate written agreement between

Civil Code Section 2923.3(c)(2) 1 (Revised 01/21)

you and your creditor permits a longer period, you have only the legal right to stop the sale of your property by paying the entire amount demanded by your creditor.

To find out the amount you must pay, or to arrange for payment to stop the foreclosure,

or if your property is in foreclosure for any other reason, contact:

---

(Name of beneficiary or mortgagee)

---

(Mailing address)

---

(Telephone)

If you have any questions, you should contact a lawyer or the governmental agency

which may have insured your loan.

Notwithstanding the fact that your property is in foreclosure, you may offer your property

for sale, provided the sale is concluded prior to the conclusion of the foreclosure.

Remember, YOU MAY LOSE LEGAL RIGHTS IF YOU DO NOT TAKE PROMPT

ACTION.

If you would like additional copies of this summary, you may obtain them by calling

___________________________. (telephone number)

Civil Code Section 2923.3(c)(2) 2 (Revised 01/21)