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Foreclosure Process

At Max Default Services Corporation, we require the minimum amount of information required to initiate the first legal action of a foreclosure. All foreclosure referrals should include the following:

Property address
All past due payments
Late charges and advances,
Borrowers mailing address.

Colorado, North Carolina, Texas and Washington require a copy of the note be provided for the foreclosure. In the states of California, Nevada, Utah and Washington no Substitution of Trustee is required to initiate the foreclosure but the Sub is required in Arizona, Colorado, Idaho, Oregon, Texas and North Carolina.

Once all documents and information required is received, action is immediately taken. The first legal action should be filed within 24 to 48 hours within all states with the exception of North Carolina and Washington. The first legal action in North Carolina is the Notice of Hearing filing, this should occur within 10 days. Most consider the filing of the Notice of Sale to be the first legal action in Washington. The Washington Notice of Sale is not recorded until 30 days after the Notice of Default is mailed/served, therefore the first legal action in Washington should occur within 35 days of receipt of a complete referral.

Servicers are provided tentative sale date immediately following the first legal action filing. Every effort is made to schedule the earliest possible sale date to ensure the interest expense is minimized to the servicer, investor, and insurer.

Documents required to initiate foreclosure:

Arizona: property and loan information, borrower's mailing address, executed Substitution and Breach

California, Nevada and Utah: property and loan information, borrower's mailing address

Colorado: property and loan information, borrower's mailing address, executed Substitution of Trustee, original Deed of Trust, original Note

Idaho, North Carolina, Oregon and Texas: property and loan information, borrower's mailing address, executed Substitution of Trustee

Washington: property and loan information, borrower's mailing address, copy of Note

For more information please contact us.

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