Summary provided by California Association of Realtors:
A lender must provide a borrower with a specified summary of information attached to a copy of a notice of default and notice of sale for any property containing one-to-four residential units.
The summary must be in English, Spanish, Chinese, Tagalog, Vietnamese, and Korean.
The beginning of the notice of default and notice of sale must also state in these 6 languages that the summary is attached.
The attached summary does not need to be recorded or published.
The Department of Corporation (DOC) must provide a standard translation of the statement free-of-charge on its website at www.corp.ca.gov.
This requirement takes effect on April 1, 2013 or 90 days after the DOC issues the summary translations, whichever is later.
Under existing foreclosure procedures, notices of default and notices of sale must be mailed to borrowers by registered or certified mail as specified. Assembly Bill 1599.
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As you might guess, this document is a compilation of information from our own efforts as REALTORS, as well as input from other REALTORS in our Coldwell Banker office. I hope it has been of value to you. Don’t hesitate to email us with any suggestions that will make this document better for you and your fellow homeowners!
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