Nod due to Ballon date expire

[Ave Escobar]

What is the time line on foreclosing on a duplex in L.A. loan Ballon date is 10/01/2023 , no prior 90 notification received. Does the lender need to provide the homeowner with a 90 day notification now before filing a NOD?

[Chris Seveney]

Quote from @Ave Escobar:

What is the time line on foreclosing on a duplex in L.A. loan Ballon date is 10/01/2023 , no prior 90 notification received. Does the lender need to provide the homeowner with a 90 day notification now before filing a NOD?

You typically cannot start foreclosure until the loan is 120 days past due even with a maturity default. Typically the NOD goes at day 90 (you can do it sooner). But you cannot send it prior to the balloon date.