Notice of the seller – what does it mean when the bank sends this?

Notice of Sale (NOS), or notice of trustee sale (NTS), as well as the notice of default, a legal document filed with the county recorder's office in the county to house owners. This document provides notice to the homeowner to default on his loan and the ongoing forced sale of the home.

As for this document to the county, the bank now has the right to actually go too violently homeowners to sell a home are behind them. In some states, it has been under the jurisdiction of a judge, who will review the paperwork and orders announcement. In others, it happens to a trustee appointed Deed of Trust, and those set up under the direction of the sale. In most cases, it is set on the day of the sale, the announcement of the NOS, while others may take several months, as soon as three weeks after.

To make the point, where communication is for sale opposite handed over to the homeowner had to be submitted to the county for the first time, the Communication Default (NOD), followed by a period of 90 days or longer should elapse granted without lending power. So if the loan is not brought current, when the NOD was filed, the bank now has the rights to file this Notice of Sale and begin the process of creating a forced sale of the home.

In order to use California as an example, when Notice of Sale presented, the policyholder will have to wait at least 21 days before they can hold the auction in the home. Once that 21-day period, then the owner of the above comments can sell the home at auction and homeowners will be forced in their home.

Source by Pete D. Mitchell

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