THE BEGINNING (NOTICE OF DEFAULT)
The “Three Month Period” is the lawful period, beginning with the recordation of our Notice of Default, which the borrower has to cure all existing defaults. We will provide you with a copy of the recorded Notice of Default for your records. Within one month, we will provide you with a written title company report of the property – a Trustee Sale Guarantee (TSG). This report gives the condition of title and liens on the property. If our company is not the named Trustee on your Deed of Trust, we will include a Substitution of Trustee for your notarized signature. Thereafter, we will supply you with an Authorization to Publish and an Affidavit of Non-Military Service. These documents respectively authorize us to commence publication of our Notice of Sale at the end of the Three Month Period while confirming the amount owed and verifies that the owner(s) of the property are not engaged in any form of military service which would entitle them to the benefits of the Soldier’s and Sailor’s Relief Act of 1940.

THE MIDDLE (NOTICE OF SALE)
If the loan is not reinstated or paid off in the Three Month Period and you have authorized publication, we will set an auction date for the property - typically within one month. We will supply you with a copy of our Notice of Sale, which specifies the actual sale date, together with an Instruction to Bid. The Instruction to Bid is for you to confirm the amounts owing and to instruct us of the amount(s) that you would like us to bid on your behalf.

THE END (PUBLIC AUCTION)
On the sale date, we will open the bidding on your behalf. You need not be present. Your bid may not be more than the total debt that is owed to you, including foreclosure fees and expenses. This is the amount of “credit” that you have in the property. If you are out-bid, we will collect cash or cashier’s check at the sale from the highest successful bidder. We will keep our fees and expenses, if not already paid, and disburse the remainder to you - up to the amount due you - once funds have cleared. In the event you desire to bid competitively above your total debt, those certified funds must be deposited with our company prior to the sale with your additional instructions. If there are no competitive bids, you will receive the property - also known as an REO (Real Estate Owned). We will issue our Trustee’s Deed which vests title in the successful bidder’s name. If there is a question as to the value of the property, there is no equity in the property, or you would like to “unload” this property at the foreclosure sale, please discuss your deficiency bid options with your attorney or accountant.

LEGAL ADVICE
All Valley Trustee Service is not a law firm and does not offer legal advice. Please consult your attorney for any legal matters that may arise during this proceeding., or please Click here to visit our recommended resource.