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Request a beneficiary statement pursuant to California Civil Code section 2943

A request for a beneficiary statement pursuant to California Civil Code section 2943 is the topic of this blog post. California Civil Code section 2943 authorizes the request to be sent at 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 can be sent to the address listed on any billing statements. Although not specifically required, sending the notice by Certified Mail, Return Receipt requested with another copy to the Trustee is a good idea.

Any homeowner who is presently in default, or close to default 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. In particular, reviewing the copy of the promissory note along with all endorsements, modifications or other attachments can be very useful as this may assist the homeowner in finding discrepancies or errors in the documents or information received from the lender.

Civil Code section 2943 states in pertinent part that the lender must provide the following information within 21 calendar days in the beneficiary statement:

1. The amount of the unpaid balance of the obligation secured by the mortgage or deed of trust and the interest rate, together with the total amounts, if any, of all overdue installments of either principal or interest, or both.

2. The amounts of periodic payments, if any.

3. The date on which the obligation is due in whole or in part.

4. The date to which real estate taxes and special assessments have been paid to the extent the information is known to the beneficiary.

5. The amount of hazard insurance in effect and the term and premium of that insurance to the extent the information is known to the beneficiary.

6. The amount in an account, if any, maintained for the accumulation of funds with which to pay taxes and insurance premiums.

7. The nature and, if known, the amount of any additional charges, costs, or expenses paid or incurred by the beneficiary which have become a lien on the real property involved.

8. Whether the obligation secured by the mortgage or deed of trust can or may be transferred to a new borrower.

9. A true, correct, and complete copy of the note or other evidence of indebtedness with any modification thereto.

A copy of the deed of trust or mortgage may also be requested at the same time as the beneficiary statement.

If the 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 see below.

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To view over 300 sample legal documents for use in California and Federal Courts sold by the author of this blog post visit View over 300 sample legal documents for sale

The author of this blog post, Stan Burman, is a freelance paralegal who has worked in California and Federal litigation since 1995.

If you enjoy this blog post, tell others about it. They can subscribe to the author’s weekly California and Federal legal newsletter by visiting the following link: http://www.legaldocspro.net/newsletter.htm

Copyright 2013 Stan Burman. All rights reserved.

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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