Recission of Notice of Default


#1

After the lender posts a California Notice of Default (NOD) is there a mandatory expiration or recission date of the NOD so the lender can’t post a Notice of Trustee Sale?


#2

Hi DavidZ,
In CA a Notice of Default does not expire. The Notice of Default would be active until a Notice of Rescission or a Reconveyance is recorded on the loan in question. A Notice of Trustee Sale in CA does expire after 1 year. This means that a sale can be postponed each month for a year before a new Notice of Trustee Sale must be recorded. Note that the lender/trustee would not need to start over with a new Notice of Default.