Aztec Foreclosure Corp Antics Analyzed


COMBO Title and Securitization Search, Report, Documents, Analysis & Commentary GET COMBO TITLE AND SECURITIZATION ANALYSIS – CLICK HERE


In California, OR, WA, CO (non judicial states) place an Automatic Stay one must file Bankruptcy “BK” which stops notice of defaults?
sadly allowing substitute trustee to act as robo-mill and includes bank attorneys who don’t have to reveal ‘security’ the mortgage note as collateral attached.

‘substitute’ trustees file falsified documents as does the documented LPS/DOCX employees, just the employee may be a contractor such as Aztec Foreclosure Corp.

The falsified documents as required by the BK courts excludes the same transactions in judicial states just the ‘Trustee’ and Substitute Trustee don’t have to disclose the ‘name of the loan trust, trust fund, certificates, the ‘mortgage note’ as collateral attached inside and sliced and diced when sold to FREDDIE MAC and others Institutional Investors.

You are forced to fight harder under COTA and Accounting GAAP to reveal what is not recorded with county recorder. You are forced to fight pro pe and when 90 days in default of any amount, the SERVICER of the asset as a receivable – advances funds and tracks the debt they will claim when they liquidate your mortgage.
You are fighting with the ‘Servicer’ who has to advance funding to the ‘Master Servicer’ get it! The party before BK does not have legal standing and the CA Courts ignore? WHY?

Aztec Foreclosure Corp

Aztec Foreclosure Corporation is a full service foreclosure trustee concentrating its practice in the representation of mortgage lenders and other financial institutions in foreclosure of residential real estate collateral in the States of California and Nevada.

Aztec Foreclosure Corporation of Washington is a full service foreclosure trustee serving the State of Washington.

Who is Robbie Weaver Office Manager in CA and Elaine Malone Foreclosure Supervisor? Who is the ‘attorney’ providign due dilligence? Kelly D. Sutherland ‘Managing Attorney’ in state of Washington? Is she licensed to practice in CA?

Look at the 21 Pages of Completed RESALES of Properties!
Please take NOTICE that
THe ‘LIST’ 21 pages of sales REPORT generated by data extracted from databases in which somebody programmed the appearance of the data in a report form all CREATED BY A COMPUTER

WHO WAS AT THE SALE? WHAT ‘TRUSTEE’ SIGNED C/O …. generated 8/12/2011 @ 3:00:50 PM

Report Date 8/12/2011 (Note the report is generated bya computer from database) organized by Case#, Sale Date, Property Address, Bids in which then the ‘security’ identified. Get that information while you are in BK!

http :// www . aztectrustee . com / Reports / CAZ_WebCompSalesRpt . pdf

Aztec Foreclosure Corporation | Professional Foreclosure Trustee Serving California and Nevada

Aztec Foreclosure Corporation of Washington (Washington State only)

Aztec Foreclosure Corporation has the necessary experience working with lenders to protect their delinquent mortgage assets. Our tenured staff has assisted lenders in their default management department, providing unique insight and an ability to better communicate with our clients. Our knowledge and experience extends beyond the routine foreclosure process into the daily operations of the default management industry. Aztec Foreclosure Corporation of Washington provides the same services in the State of Washington.

Notice of Default – State of California
Upon receipt of the foreclosure referral package, the Notice of Default (“NOD”) is prepared and forwarded to the title company for recording along with the executed Declaration from the lender. Recoding of the NOD constitutes ‘first legal’ when recorded. Once recorded, a copy of the NOD and Declaration will be mailed to all parties to the Deed of Trust and parties having recorded a request for notice.

A Trustee Sale Guarantee (“TSG”) will be ordered from the title company and reviewed upon receipt that will disclose all parties entitled to notice, as well as any other encumbrances recorded against the Deed of Trust and reviewed for any possible defects which may exist that would prevent continuation of foreclosure. The one-month mailing notices are sent to any parties requiring notice.

Notice of Sale
A Notice of Sale (NOTS) will be recorded in the appropriate county and all parties requiring notice will be sent certified and regular mailings of the upcoming foreclosure sale date. The NOTS will be published for three successive weeks in a newspaper of general circulation for the city and county the property is located. A copy of the NOTS will be posted on the property itself and recorded in the county recorder’s office. The sale will be conducted at the time and place set forth on the NOTS.

Bidding instructions will be requested from the client and should be submitted to our office no later than 5 days before the scheduled sale date. Aztec will bid according to the client’s instructions. If there are no competitive bidders, the interest of the property will revert to the beneficiary. Third party bidders must outbid the beneficiary to obtain the property, and the sale proceeds are distributed in the order of priority, with the beneficiary being satisfied first.

The sale may be postponed pursuant to the client’s instructions without an additional publication. The sale may be postponed up to a maximum of 365 days after the original sale date. After that a new publication will have to be set with a new sale date, mailings, etc.

There is a 3 month redemption period that must run from when the NOD is recorded before a foreclosure sale can be set. Effective June, 2009, CA implemented the CA Foreclosure Prevention Act which required an additional 90 days of redemption:

On February 20, 2009, Governor Schwarzenegger signed ABX2 7 and SBX2 7, which establish the California Foreclosure Prevention Act. The California Foreclosure Prevention Act modifies the foreclosure process to provide additional time for borrowers to work out loan modifications while providing an exemption for mortgage loan servicers that have implemented a comprehensive loan modification program. Civil Code Section 2923.52 requires an additional 90 day period beyond the period already provided before a Notice of Sale can be given in order to allow all parties to pursue a loan modification to prevent foreclosure of loans meeting certain criteria identified in that section.

A mortgage loan servicer who has implemented a comprehensive loan modification program may file an application for exemption from the provisions of Civil Code Section 2923.52. Approval of this application provides the mortgage loan servicer an exemption from the additional 90-day period before filing the Notice of Sale when foreclosing on real property as designated by this Section.

Upon expiration of redemption, sale, publication and posting dates will be set. The sale cannot be held until the expiration of 21 days from redemption.

The sale will be conducted at the time and place set forth on the NOTS. Aztec will bid according to the client’s instructions. If there are no competitive bidders, the interest of the property will revert to the beneficiary. Third party bidders must outbid the beneficiary to obtain the property, and the sale proceeds are distributed in the order of priority, with the beneficiary being satisfied first.

The sale may be postponed pursuant to the client’s instructions without an additional publication. The sale may be postponed up to three times at the request of the beneficiary, after which it will be necessary to republish a new sale date.

Conveyance & Final Title
After the foreclosure sale is conducted, a Trustee’s Deed Upon Sale is issued by Aztec conveying title to the successful bidder. If the property reverts to the beneficiary, it is sent for recording within a few days of the sale. If a third-party purchases the property, the unrecorded Trustee’s Deed will be sent to the address specified by that party.

If the property is to be conveyed to the Secretary of Housing & Urban Development (“HUD”) or Secretary of Veterans Affairs (“VA”), a Grant Deed from the beneficiary to the agency is sent to the client for execution prior to the sale.

After receipt of the Grant Deed, if it is a VA loan, the deed is sent for recording immediately. Aztec will order a title policy and forward it to VA within their required time line. If it is a HUD loan, Aztec will await instructions to record the deed to HUD. Prior to the deed recording, Aztec will obtain tax and lien information to verify if title is clear before recording the HUD deed. When all taxes and liens are cleared, with the client’s instructions, the deed is recorded. Once recorded, the title policy is obtained and forwarded to HUD within their required time line. The clients are given copies of the title polices and recorded deeds.

The only post-sale right of redemption occurs when an IRS tax lien is recorded against the property. Once the sale is held, the lien is extinguished, but the IRS retains a 120-day right of redemption. During this time frame, the IRS has the right to purchase the property.

Reinstatement and Payoff
The trustors, owners and junior lienholders have a statutory right to reinstate the loan up to five business days prior to the sale. The beneficiary may waive the five-day limit and accept reinstatement at any time prior to the sale. Reinstatement must be tendered in the amount of all sums due the lender plus all foreclosure fees, costs and any attorney’s fees and costs incurred.

Deficiency Judgment – State of California
The right to a deficiency judgment following the foreclosure sale is limited by anti-deficiency legislation. Under California Code of Civil Procedure Section 508b, there can be no deficiency judgment on foreclosure of a purchase-money mortgage or trust deed. Also, under Section 580d, one cannot seek a deficiency after a non-judicial foreclosure sale.

The anti-deficiency rule does make a distinction between vendors and third-party lenders. The vendor is precluded from seeking a deficiency judgment where his loan secures payment of the balance of the purchase price of real property. In respect to a third-party lender, the anti-deficiency rule applies only to a dwelling of not more than four families given to secure repayment of a loan that was used to pay all or part of the purchase price of such dwelling occupied entirely or in part by the purchaser.

Deficiency judgments may be obtained if the obligation is not subject to California Code of Civil Procedure, Section 580. These cases are outside the scope of this synopsis.

Eviction – State of California
The eviction process is initiated by serving the owners/trustors with a three-day Notice to Quit. All other occupants must be given a sixty-day Notice to Quit.
After the 3/60 day period has expired and if the property is still occupied, a Complaint for Unlawful Detainer is filed. The summons and complaint are sent for service upon all defendants. The requisite personal or substitute service of process may take up to two weeks. In cases where service cannot be effectuated, application is made to the court for permission to serve by posting and mailing the summons and complaint to the property.

Defendants have five days to answer the complaint after service, plus ten extra days if service was made by substitute service or posting and mailing. If the defendants do not respond timely, a default judgment is entered. If defendants file an answer and contest the action, a motion for summary judgment is filed and usually granted within two weeks. In those infrequent cases in which summary judgment is not granted, a trial date is requested. A judgment and writ for possession are submitted to the court within 48 hours of a trial, granting a motion for summary judgment or a default judgment is entered. The court is requested to forward the writ to the marshals for posting on the property. Processing of the writ and posting take approximately two weeks.

The defendants have five days to vacate after posting of the writ. The marshal then returns to the property to physically remove the occupants. The servicer must arrange to have a representative present to take possession and secure the property. The majority of eviction cases that are former owner occupied are completed within 60 to 75 days.



Washington Staff:

Kelly D. Sutherland
Managing Attorney
360.260.2253 ext 281

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