A California Civil Code section 2943 beneficiary statement
request to a lender is the topic of this blog post. Section 2943 of the Civil Code states in
pertinent part that the request may be sent any time before, or within two
months after, the recording of a notice of default under a mortgage or deed of
trust. The request MUST be sent before any notice of sale has been
recorded.
The request may be sent to the address listed on the latest
billing statement. Although not actually
required under the law, sending the notice by Certified Mail, Return Receipt
requested with another copy to the Trustee is a good idea.
Homeowners in California who are presently in default, or may
be close to defaulting on the loan securing their home should seriously
consider requesting a beneficiary statement request to their lender to request
that all of the information listed in, and documents described in, this blog
post be provided to them. Certain
lenders keep sloppy records and the homeowner may find discrepancies or errors
in the documents or information received from the lender that may support a
defense to any foreclosure.
Section 2943 of the Civil Code states in pertinent part that
the lender must provide certain information within 21 calendar days from the
date of receipt of the request for a beneficiary statement including the amount
of the unpaid balance of the obligation secured by the mortgage or deed of
trust, the interest rate, together with the total amounts, if any, of all
overdue installments of either principal or interest, or both, a true, correct, and complete copy of the note
or other evidence of indebtedness with any modification thereto as well as
other specified information.
A copy of the deed of trust or mortgage may also be
requested at the same time as the beneficiary statement.
If a lender willfully fails to prepare and deliver the
beneficiary statement they are liable to the person requesting the statement
for all damages which they may sustain by reason of the refusal or the sum of
$300.00 if no actual damages are sustained.
Attorneys or parties in California who would like to view a
sample request for a beneficiary statement created by the author can visit the
link shown below.
The author of this blog post, Stan Burman, is a freelance
paralegal who has worked in California and Federal litigation since 1995 and has created over 300 sample legal documents for sale.
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DISCLAIMER:
Please note that the author of this blog post, Stan Burman
is NOT an attorney and as such is unable to provide any specific legal advice.
The author is NOT engaged in providing any legal, financial, or other
professional services, and any information contained in this blog post is NOT
intended to constitute legal advice.
These materials and information contained in this blog post
have been prepared by Stan Burman for informational purposes only and are not
legal advice. Transmission of the information contained in this blog post is
not intended to create, and receipt does not constitute, any business
relationship between the author and any readers. Readers should not act upon this
information without seeking professional counsel.
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