What is a reinstatement? What is a payoff?
What are the procedures for postponements? What is an Assessor’s Parcel Number (APN)? What is an REO? What is a foreclosure? It is the lender’s (beneficiary’s) legal remedy for nonpayment by the borrower (trustor) of an obligation. What is a judicial foreclosure? It is a foreclosure through court action. This action is sometimes necessary to remove certain tax liens. What is a non-judicial foreclosure? It is the sale by a trustee under a deed of trust, or mortgagee under a power of sale of a mortgage. There are no court proceedings. What is a trustee? (1) One who is appointed or required by law, to execute a trust. (2) A trustee is the third party to a Deed of Trust whose functions are to conduct a foreclosure in the event of a default or to issue a reconveyance in the event of a payoff. What is a posting? It is public notification by attaching to a post, wall, door, or by displaying in a public place. California foreclosure law states that the publication period begins once the redemp
