A Non-Judicial Foreclosure is processed without court intervention, with the requirements for the foreclosure established by state statutes. This process is utilized when a Deed of Trust, or Trust Indenture, contains a Power of Sale clause which enables the Trustee to initiate the foreclosure process without having to go to court.
The Beneficiary will need to provide the Deed of Trust, or Trust Indenture, note, modification, or extension agreements, and any assignments. Contact your Trustee if any of these original documents are lost to determine how to proceed. In addition, the Trustee will need other essential information such as the unpaid balance of the note, the date to which interest is current, the reason for default, the last known address of the owner, and the property address.
The Trustee’s Sale Guarantee (TSG) is a form containing assurance specifically structured to meet the needs of a Trustee or Attorney contemplating the foreclosure of a Deed of Trust, or Trust Indenture. In particular, the form identifies all persons who, according to the public records, are entitled to receive notice of the contemplated Trustee’s Sale. The TSG provides the following information: