California Civil Code §2924 · Notice of Default (NOD)
Got a Notice of Default? Start with the date it was recorded.
A Notice of Default (NOD) is the first recorded notice. It starts the foreclosure clock. Find the date it was recorded. Then ask the trustee if a sale date is set. The trustee is the company that runs the sale. Do not assume you have three months left. The three months count from the recording date, not from the day you got the notice. Gay-Lynn Chavez and Francisco Williams, CCIM go over your options with you in writing. Free first call. No upfront fees.
What Happens Next · 1 – 2 – 3
How we help in 3 steps
Our first review is free. We charge no upfront fees. Before you sign anything, we explain in writing how we are paid and what sale costs to expect.
Step 1: Tell us what's happening
You speak with Gay-Lynn Chavez or Francisco Williams, CCIM. We find the date your Notice of Default was recorded. We also ask the trustee if a sale date is set.
Step 2: We review your options with you, in writing
We compare your options side by side. One is reinstatement. That means catching up on the missed payments and costs so the loan is current again. Other options are a lender workout, a sale before the auction, or a short sale. A workout is a new plan with your lender for paying the loan. A short sale is a sale for less than you owe, with your lender's written approval. For some loans behind on payments, you only need to pay what is past due, plus allowed fees. Some loans reach their maturity date. That is the date the whole loan comes due. It is also called a balloon payment. If yours has, the rules are different. Catching up on missed payments may not be enough. Ask your lender and a lawyer of your own what you must pay.
Step 3: You decide; we coordinate the plan you choose
Selling before the auction may leave you money after loans and costs are paid. We'll show you a written estimate first. The price is not guaranteed.
Free First Call · Plain Answers, No Pressure
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We need only your name and phone number. Gay-Lynn Chavez and Francisco Williams, CCIM help owners of homes and commercial property.
Co-Principals · Residential & Commercial
You talk directly with our co-principals. Both work on homes and on commercial property in Southern California.
- Gay-Lynn Chavez — Co-Principal · Residential & Commercial · DRE #01433767 · Broker: eXp Realty of California, Inc., DRE #01878277 · (562) 858-7065 · GayLynn@chavezgroupusa.com · Chavez & Associates
- Francisco Williams, CCIM — Co-Principal · Residential & Commercial · DRE #01979442 · Broker: Exp Commercial of California, Inc., DRE #02134436 · (213) 880-8107 · Francisco.Williams@williamscap.ai
We are real estate licensees, not a law firm, and we don't give legal or tax advice. If you need legal advice, we can refer you to an independent attorney.