Mortgages and deeds of trust: foreclosure.

Existing law prescribes a process pursuant to which a power of sale contained in a mortgage or deed of trust may be exercised, including publication of a specified notice of sale in a particular manner. Existing law requires that the first publication be at least 20 days before the date of sale, in a newspaper of general circulation published in the city in which the property or some part of it is situated, and if the property is not situated in a city, then in a newspaper of general circulation published in the public notice district in which the property or some part of it is situated. If a newspaper of general circulation is not published in the city or public notice district, the notice is to be published in a newspaper of general circulation in the county in which the property or some part of it is situated, subject to further conditions. Existing law prescribes specific public notice districts throughout the state. This bill would eliminate the initial requirement that a notice of sale be published in the city in which the property or some part of it is situated, as described above, instead providing that the initial publication preference is for a newspaper of general circulation in the public notice district in which the property, or some part of it, is situated. The bill would make conforming changes. Existing law authorizes a trustee to file a declaration of nonmonetary status if the trustee under a deed of trust is named in an action or proceeding in which that deed of trust is the subject, and the trustee reasonably believes that it has been named solely in its capacity as trustee and not arising from any wrongful acts or omissions. Certain consequences arise from such a filing, including giving parties who have appeared in the action or proceeding 15 days from service of the declaration to object to it. Upon the timely service of an objection to the declaration of nonmonetary status, existing law grants the trustee 30 days from the date of service to file an answer or other responsive pleading, as specified. This bill would prohibit charging a fee for the filing of a declaration of nonmonetary status in this context. This bill would incorporate additional changes to Section 2924f of the Civil Code proposed by SB 1079 to be operative only if this bill and SB 1079 are enacted and this bill is enacted last.