Whoa~ wait a sec.
I just saw this, and am now confused.
can someone please explain this?
The trustee named in the deed of trust has to record a public notice of default to initiate a non-judicial foreclosure. If the owner in default does not pay off the default within a certain time frame, the trustee can schedule a public sale of the property.
1. Trustee would be the person holding my note right?
(simple yes or no will do.)
The words "has to record a public notice"
2. A public notice would be what? A notice listed in the News paper Legal Sections?
3. Would this mean some other type of Notice to the public?
Bear with me for a second here. The reason I ask, is because it seems there is a process that should be followed. and if reading this sentence correctly it says this:
A. The trustee has to record a public notice, of the default.
B. This initiates the foreclosure in the NON Judicial states.
C. Then, the owner is given a certain time frame to "pay off" the entire debt.
AND IF THE DEBT IS NOT PAID BY THE OWNER, "THEN" (key word being "then") & only "THEN"
D. The trustee can schedule a public sale of the property to, FORECLOSE.
"Can schedule" would mean that another step is to be taken, to "SCHEDULE" the Foreclosure, and the next step would be.......
E. The scheduling of the date that the home is sold on court house steps.
There are steps being omitted, or conjoined together to serve as one step, by our NON Judicial system here.
There are as follows.
A. The trustee named in the deed of trust has to record a public notice of default (in the news paper legal section)to initiate a non-judicial foreclosure.
B. If the owner in default does not pay off the default within a certain time frame, the trustee can schedule a public sale of the property.
Now can someone tell me, if this paragraph might be incorrect.
Maybe, I'm reading this paragraph the wrong way?
or Does it appear true that STEPS are being omitted?
Rephrased a different way below.
What is happening here in Ga, is
Public record is recorded in the news paper legal sections "claiming" the borrower is in default, and the news paper is telling the borrowers they have a CURE date, and its usually less than a 30 day period (btw), and if the debt is not CURED in full by the First Tuesday of the next month, the House is Foreclosed on, ON THAT DAY.
Alright, I just found the information I needed, here it is
|Sale Publication |
The list of processing days, and sale publication days, does tell me, that boundaries are being crossed, and that the trustees are not following proper protocol's for the days "ALLOWED" to cure the debt.
What are some of your views on this?
And WHY IS THIS HAPPENING?
and WHAT CAN BE DONE TO STOP THESE PRECOCIOUS Foreclosures?
A few last questions.........
Why does NON JUDICIAL Exist?
Who makes a state Judicial or Non Judicial?
And how can Ga be changed from a NON Jud. to JUDICIAL for all Foreclosures?