Non-Recourse Loan
Loan agreements in which the lender has no legal right to collect the "deficiency" from the borrower following the sale of a property at auction. The lender can only use the proceeds from the sale of the collateral (property), which secured the loan in default, to satisfy the debt. Regardless of the difference between the debt owed and the money recovered from the sale, the borrower is not held liable.
Starting a foreclosure is as easy as
- Click on the "Get Started Now" button below.
- Complete the secure online form, or download a printable version.
- Submit the form securely via the website, e-mail, fax, or mail it to us.
What if there are no bidders at the sale?
The property is then returned to the beneficiary. The beneficiary or lender now owns the property and they will receive a Trustee’s Deed within a few days. Their next step would be to make any preparations for taking possession of the property and plans for its disposition or liquidation.
2009 To 2014 Foreclosure Statistics for San Luis Obispo County, California
This document details the number of Notice of Defaults, Notice of Sales, and Trustee's Deeds filed in San Luis Obispo County, CA from January 2009 through 2014. For review of data prior to 2009 please contact our office.