If a Notice of Default has been recorded against your property it means your lender has started the formal foreclosure process. In California, a borrower must be two months delinquent before a lender can commence a foreclosure action by recording a Notice of Default.
A borrower has over three months from the recording of the Notice of Default to work something out with their lender and avoid the completion of the foreclosure.
Once the Notice of Default has been recorded, it is important to act to avoid losing the property and having a foreclosure on your record.
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