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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Last 5 business days... Posted by Ward-CA- on December 15, 2003 at 8:10 PM In Reply to: 5 days before sale....lender calls the note due... posted by zachary on December 15, 2003 at 10:06 AM : Quick question. : In Ca the lender has to allow you to pay a foreclsoure current up until 5 days before the sale, right? : Meaning in the last 5 days before auction the lender can decide to call the note due in full?? : If this is correct is it 5 BUSINESS DAYS or just 5 consecutive days?? : thanks : Zachary =============== Zachary, Yes, in CA a foreclosing lender has to grant an owner in default, or any subordinate lienor or interest holder, the right to reinstate their loan delinquency at any time up to 5 business days prior to the date set for the auction sale. [Calif. Civil Code §2924c(e)] During the last five days before the sale, the lender can insist on a full payoff of their entire indebtedness. Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Quick question. : : In Ca the lender has to allow you to pay a foreclsoure current up until 5 days before the sale, right? : : Meaning in the last 5 days before auction the lender can decide to call the note due in full?? : : If this is correct is it 5 BUSINESS DAYS or just 5 consecutive days?? : : thanks : : Zachary : =============== : Zachary, : Yes, in CA a foreclosing lender has to grant an owner in default, or any subordinate lienor or interest holder, the right to reinstate their loan delinquency at any time up to 5 business days prior to the date set for the auction sale. [Calif. Civil Code §2924c(e)] : During the last five days before the sale, the lender can insist on a full payoff of their entire indebtedness. : 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

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