notice of default (Nod)

UNDERSTAND YOUR OPTIONS. TAKE THE NEXT RIGHT STEP.

A Notice of Default is an important stage in the foreclosure process.
Learn about the timeline, key deadlines, and options that may still be available to help you determine your next step.

THE FORECLOSURE TIMELINE IN CALIFORNIA
(NON-JUDICIAL)

1. Notice of Default

Borrower is notified of the default and the lender’s intent to start foreclosure..

2. WAITING PERIOD

Minimum 90 days must pass before a Notice of Trustee Sale can be issued.

3. NOTICE OF TRUSTEE SALE

Issued after the waiting period. Sale date is set at least 20 days out.

4. TRUSTEE SALE

The property is sold at a public auction to the highest bidder.

5. POST-SALE PROCESS

If the property does not sell, it may revert to the lender (REO).

FREQUENTLY ASKED QUESTIONS

What is a Notice of Default (NOD)?

A Notice of Default is a recorded notice indicating that a borrower has fallen behind on their mortgage payments and the lender has begun the foreclosure process.

In California, generally at least 90 days must pass after the Notice of Default is recorded before a Notice of Trustee’s Sale can be recorded. Additional notice requirements apply before a foreclosure sale can occur.

Possibly. Depending on your situation and where you are in the foreclosure timeline, options may include reinstatement, a loan modification, refinancing, selling the property, or other alternatives.

Your options may include bringing the loan current, requesting a loan modification, refinancing, selling the property, pursuing a short sale, or exploring other available solutions.

The missed payments leading up to an NOD may already have affected your credit. Foreclosure-related activity can have additional credit consequences depending on your circumstances.

Yes. Acting early may give you more options. Consider contacting your loan servicer to discuss available alternatives and, when appropriate, a qualified real estate, mortgage, legal, or housing professional.

Have more questions? Contact us — we’re here to help.

YOU HAVE OPTIONS

Explore options based on your situation

  • Loan modification or reinstatement
  • Refinancing options
  • Sell the property
  • Short sale
  • Other solutions that may be available
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Mortgage Rates Disclosures

 

The advertised loan is a 15-year Fixed Rate Loan with a 15-year fully amortizing term. The interest rate is 5.250% for 180 months. The disclosed APR is based on the payment of 3.000 discount points. For a $726,200 loan, there is a 5.755% APR with a monthly principal and interest payment of $5,838 for 180 months. Interest rate quoted assumes a purchase with 45 day lock pricing at 60% loan-to-value (LTV), a minimum FICO score of 740 on a primary residence. Interest rate quoted assumes a purchase of a primary residence. The actual interest rate, APR and payment may vary based on the specific terms of the loan selected, verification of information, your credit history, the location and type of property, and other factors as determined by Lender. Not available in all states. Payments shown do not include taxes or insurance, actual payment obligations will be greater. Not all applicants will qualify. Rates and terms are effective 9:00AM PT on 9/18/2024 and are subject to change without notice.


The advertised loan is a 30-year Fixed Rate Loan with a 30-year fully amortizing term. The interest rate is 5.250% for 360 months. The disclosed APR is based on the payment of 3.000 discount points. For a $726,200 loan, there is a 5.545% APR with a monthly principal and interest payment of $4,010 for 360 months. Interest rate quoted assumes a purchase with 45 day lock pricing at 60% loan-to-value (LTV), a minimum FICO score of 740 on a primary residence. The actual interest rate, APR and payment may vary based on the specific terms of the loan selected, verification of information, your credit history, the location and type of property, and other factors as determined by Lender. Not available in all states. Payments shown do not include taxes or insurance, actual payment obligations will be greater. Not all applicants will qualify. Rates and terms are effective 9:00AM PT on 9/18/2024 and are subject to change without notice.

The advertised loan is an FHA 30-year Fixed Rate Loan with a 30-year fully amortizing term. The interest rate is 5.250% for 360 months. The disclosed APR is based on the payment of 3.000 discount points. For a $726,200 loan, there is a 6.437% APR with a monthly principal and interest payment of $4,010 for 360 months. Interest rate quoted assumes a purchase at 80% loan-to-value (LTV), a minimum FICO score of 740 on a primary residence. The actual interest rate, APR and payment may vary based on the specific terms of the loan selected, verification of information, your credit history, the location and type of property, and other factors as determined by Lender. Not available in all states. Payments shown do not include taxes, hazard insurance, or mortgage insurance; actual payment obligations will be greater. Not all applicants will qualify. Rates and terms are effective 9:00AM PT on 9/18/2024 and are subject to change without notice.

This is a VA program. Current guidelines for VA Financing can be found at https://www.benefits.va.gov/homeloans/index.asp . The advertised loan is a VA 30-year Fixed Rate Loan with a 30-year fully amortizing term. The interest rate is 5.250% for 360 months. The disclosed APR is based on the payment of 3.000 discount points. For a $726,200 loan, there is a 5.882% APR with a monthly principal and interest payment of $4,010 for 360 months. Interest rate quoted assumes a purchase with 45 day lock pricing at 100% loan-to-value (LTV), a minimum FICO score of 740 on a primary residence. The actual interest rate, APR and payment may vary based on the specific terms of the loan selected, verification of information, your credit history, the location and type of property, and other factors as determined by Lender. Not available in all states. Payments shown do not include taxes or insurance, actual payment obligations will be greater. Not all applicants will qualify. Rates and terms are effective 9:00AM PT on 9/18/2024 and are subject to change without notice.

Refinance: By refinancing your existing loan, your total finance charges may be higher over the life of the loan.