What is a Notice of Default?

It is a recorded document here in California that is usually filed by your mortgage company because your mortgage payment has not been made. Usually, it is within 3 months of not receiving a payment, but it can vary depending on the mortgage company. Don’t forget that due to COVID we were also seeing forbearance and deferments that may have terms that are now ending,

 

You are behind in your payments; you received the Notice of Default. What are your next steps?

1. Contact your mortgage company – While it sounds simple, depending on what you are currently going through, it can be emotionally difficult to want to pick up the phone. On the other hand, if you power through the phone conversation, you might find that you have options that you did not know about.

 

2. Reach out to a lender – Yes, you are behind on your mortgage payments but if your mortgage company cannot offer a workable solution then try, try again. Another lender may have options for you to take advantage of that your current mortgage holder does not make available.

 

3. Under no circumstances should you lose the equity that you have in your home! If you have no other choice but to be removed from the property because eventually the Notice of Default will turn into the bank taking possession of the property. Filing the NOD is the first step. By deciding to sell your home, that is the first step in feeling like you are gaining some control over what is going on. With the successful sale of your home, hopefully the equity is enough to bring you up to date on other bills, if you owe any, bringing up your credit score and providing you with a bit of savings. Look at that as a goodbye gift from your home or a return on your investment. Up to you.

 

Now, are mortgage companies the only ones that can file a Notice of Default? Absolutely NOT!

 

If you are behind on your taxes, the county assessor can file a Notice of Default.

 

If you have an HOA and are behind on payments to them, the HOA can file a Notice of Default too.

 

Even if you are paying your primary mortgage but there are other loans filed against your home, they can file for Notice of Default.  

 

Does Bankruptcy spare you from Eviction? Not necessarily. Make sure you speak to your Bankruptcy attorney and are blunt about what your goal is to file the correct bankruptcy.

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New property listed in 33 - Lakewood Plaza, Rancho

I have listed a new property at 3451 Monogram Avenue in Long Beach. See details here

**Coming Soon in the Plaza!**A charming and well-appointed 3-bedroom, 1.75-bath home in the heart of one of Long Beach’s most sought-after neighborhoods. From the moment you arrive, the curb appeal shines with manicured landscaping featuring artificial turf and a welcoming front porch. Inside, the home boasts an open-concept layout with rich wood flooring throughout, recessed lighting, and a spacious living and dining area perfect for entertaining. The modern kitchen features crisp white cabinetry, dark granite countertops, stainless steel appliances, and a convenient bar shelf with glass storage. The primary suite is generously sized with room for a sitting area or home gym. A separate indoor laundry room adds functionality. Additional upgrades include a whole-house water softener, alkaline water filtration system, and dual-pane windows. while the oversized backyard is an entertainer’s dream—complete with a covered patio, built-in TV, lounge area, firepit seating, and tropical landscaping. Whether hosting summer BBQs or enjoying quiet evenings outdoors, this space offers the ultimate in SoCal living. Stay tuned—this gem is hitting the market soon!

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Open House. Open House on Saturday, May 10, 2025 11:00AM - 4:00PM

Please visit our Open House at 3451 Monogram Avenue in Long Beach. See details here

Open House on Saturday, May 10, 2025 11:00AM - 4:00PM

**Coming Soon in the Plaza!**A charming and well-appointed 3-bedroom, 1.75-bath home in the heart of one of Long Beach’s most sought-after neighborhoods. From the moment you arrive, the curb appeal shines with manicured landscaping featuring artificial turf and a welcoming front porch. Inside, the home boasts an open-concept layout with rich wood flooring throughout, recessed lighting, and a spacious living and dining area perfect for entertaining. The modern kitchen features crisp white cabinetry, dark granite countertops, stainless steel appliances, and a convenient bar shelf with glass storage. The primary suite is generously sized with room for a sitting area or home gym. A separate indoor laundry room adds functionality. Additional upgrades include a whole-house water softener, alkaline water filtration system, and dual-pane windows. while the oversized backyard is an entertainer’s dream—complete with a covered patio, built-in TV, lounge area, firepit seating, and tropical landscaping. Whether hosting summer BBQs or enjoying quiet evenings outdoors, this space offers the ultimate in SoCal living. Stay tuned—this gem is hitting the market soon!

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Posted in 33 - Lakewood Plaza, Rancho Real Estate
Open House. Open House on Sunday, May 11, 2025 1:00PM - 4:00PM

Please visit our Open House at 3451 Monogram Avenue in Long Beach. See details here

Open House on Sunday, May 11, 2025 1:00PM - 4:00PM

**Coming Soon in the Plaza!**A charming and well-appointed 3-bedroom, 1.75-bath home in the heart of one of Long Beach’s most sought-after neighborhoods. From the moment you arrive, the curb appeal shines with manicured landscaping featuring artificial turf and a welcoming front porch. Inside, the home boasts an open-concept layout with rich wood flooring throughout, recessed lighting, and a spacious living and dining area perfect for entertaining. The modern kitchen features crisp white cabinetry, dark granite countertops, stainless steel appliances, and a convenient bar shelf with glass storage. The primary suite is generously sized with room for a sitting area or home gym. A separate indoor laundry room adds functionality. Additional upgrades include a whole-house water softener, alkaline water filtration system, and dual-pane windows. while the oversized backyard is an entertainer’s dream—complete with a covered patio, built-in TV, lounge area, firepit seating, and tropical landscaping. Whether hosting summer BBQs or enjoying quiet evenings outdoors, this space offers the ultimate in SoCal living. Stay tuned—this gem is hitting the market soon!

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