FAQ
Frequently Asked Questions
What do you do as trustee?
- When your right to take action pursuant to the terms under your Deed of Trust arises, we:
- Send a demand letter to your ex- spouse requesting immediate repayment of any sums you paid to bring the mortgage out of default.
- If your spouse fails to comply with the demand letter we proceed with proper statutory notices to all parties (mortgage companies, lien holders, etc).
- After proper notice is sent and if the grantor refuses to reimburse you, we proceed with a foreclosure sale in the county in which the property is located.
Will I owe additional fees?
- No! Your one-time fee of $99.00 plus filing fees is all you will ever pay. Hiring a private attorney to handle this for you at a later date can cost thousands of dollars. Divorce trustees may however collect further fees against your ex-spouse, as allowed by law. However, our additional fees will not be collected until you have been reimbursing all sums you have paid.
If my ex-spouse is constantly late (but not in default) what can Divorce Trustees do?
- Unfortunately, our service would not be engaged at that time. You would need to consult your prior lawyer on that matter.
When do your services engage?
- Your ability to exercise your rights under the Deed of Trust to Secure Assumption will engage when your ex-spouse is in default of the original note. Typically this will be when they are thirty (30) days late.
- Once you have made payment, you will send us notice with proof of payment. At this point your rights to proceed pursuant to the terms of the Deed of Trust have been invoked and our services will start. Please consult with your attorney regarding your rights under the Deed of Trust.
