InnoVest Resource Management's Foreclosure Forum

Home Discussion Board "Hands-On" Training Title Holding Trust Speaking Schedule Store Foreclosure Codes 50 State Resource Data Foreclosure Glossary Foreclosure Statistics 60+ Yrs Interest Rates Fillable Forms Archived Articles Dingbat Retirement Plan Links Contact / Map Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Depends on the ascertainability of the maturity date.. Posted by Ward-CA- on June 07, 2003 at 7:34 PM In Reply to: Foreclosing on a Note that hasn't been paid on since 1991 posted by Steve Gold on June 06, 2003 at 4:54 PM : Can you do a Non-Judicial Forcloseure on a Note secured by a Deed of Trust that has not been paid on since 1991, and has been all due and payble since 1992. someone told me that the California Civil Code states that you waive your rights to collect after a certain amount of time has passed. : Since I'm considering buying this Note I would greatly appricate some insight into this matter. Or could someone direct me to what the Civl Code states? : Thanks, : Steve Gold =•=•=•=•=•=•=•=•=•=•= Steve, CA Civil Code Section 882.020(a)(1)&(2) state that the lien expires at, and is not enforceable by action for foreclosure, after the later of the following times: (1). Ten years after the final, ascertainable maturity date; OR (2). Sixty years after the deed of trust was created if the final, maturity date CANNOT be ascertained. Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Can you do a Non-Judicial Forcloseure on a Note secured by a Deed of Trust that has not been paid on since 1991, and has been all due and payble since 1992. someone told me that the California Civil Code states that you waive your rights to collect after a certain amount of time has passed. : : Since I'm considering buying this Note I would greatly appricate some insight into this matter. Or could someone direct me to what the Civl Code states? : : Thanks, : : Steve Gold : =•=•=•=•=•=•=•=•=•=•= : Steve, : CA Civil Code Section 882.020(a)(1)&(2) state that the lien expires at, and is not enforceable by action for foreclosure, after the later of the following times: : (1). Ten years after the final, ascertainable maturity date; : OR : (2). Sixty years after the deed of trust was created if the final, maturity date CANNOT be ascertained. : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction.

Copyright © 1997-2003, InnoVest Resource Management
http://www.foreclosureforum.com

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455