What are the most common delays to the foreclosure process?
• The most common delay comes from the filing of bankruptcy. • A temporary restraining order (TRO) is used to preserve tde status quo pending a court hearing for a preliminary injunction. • A preliminary injunction is used to preserve tde status quo pending a final determination of the action on the merits. • The beneficiary or his servicer doesn’t send tde trustee the most current assignment. The trustee prepares the NOD and the substitution with the wrong beneficiary shown. Several days after the documents are recorded the title company discovers the error. The trustee now must rescind the original NOD and re-record new documents. If there is uncertainty regarding the current beneficiary, ask the trustee handling the foreclosure to check with the title company for current information. • The recording information on the deed of trust was incorrect. A copy of the deed of trust has the recording information written incorrectly or the original deed of trust was re-recorded later. • The p
The most common delay comes from the filing of bankruptcy. A temporary restraining order (TRO) is used to preserve the status quo pending a court hearing for a preliminary injunction. A preliminary injunction is used to preserve the status quo pending a final determination of the action on the merits. The beneficiary or his servicer doesn’t send the trustee the most current assignment. The trustee prepares the NOD and the substitution with the wrong beneficiary shown. Several days after the documents are recorded the title company discovers the error. The trustee now must rescind the original NOD and re-record new documents. If there is uncertainty regarding the current beneficiary, ask the trustee handling the foreclosure to check with the title company for current information. The recording information on the deed of trust was incorrect. A copy of the deed of trust has the recording information written incorrectly or the original deed of trust was re-recorded later. The paid-to-date
