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Maverick, Attorney
Category: Business Law
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Experience:  20 years of professional experience
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On 10/22/2008 had PLM Lender Services, a California trustee,

Resolved Question:

On 10/22/2008 had PLM Lender Services, a California trustee, filed a Notice of Default for non payment of taxes and monthy payments on a property owned located in California, owned by California LLC. On the advice of an attorney I did not have the trustee file a notice of sale. It has been in limbo since.
The note became due the 1st January 2009.

The note was guaranteed by the original beneficial owners of the note and who assigned the Note and Deed of trust to me on April 17, 2007. The note guarantee was in writing and was notarized and signed April 17, 2007. I have been adivised by several law firms that it is fully enforecable.

Problem 1 - I can't find the original demand for non payment sent to the Note maker and who is also the trustor on the Deed. Should I have the NOD recessind and send a new demand to the Note Maker who is also the Trustor on the Deed?

There-by enabling me to make demand for performance on the Guarantors for the full amount allowed in the Guaranty.

Bill Bronner
Submitted: 5 years ago.
Category: Business Law
Expert:  Maverick replied 5 years ago.

Welcome to Just Answer! My name isXXXXX very much enjoy what I do and I hope that you will benefit from this information.


Take a look at your guarantor agreement and see if it first requires demand on the borrower before you can make demand on the guarantors. Most of the times, once there is default, you can make demand upon the guarantors and the borrower at the same time.


Otherwise, you can make a new demand for payment. No need to rescind the old one. Just make the new one and if the borrower does not pay within the time identified in your demand then you can make a demand on the guarantors. Then you can file suit against both, if they still do not pay.



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