According to California Civil Code 2941.7, a Lost Trust Deed or Lost Trust Note surety bond is required in the event that a re-conveyance was never recorded, and after a “meticulous search,” the beneficiary of record cannot be located. The surety bond must be issued for an amount two times the value of the original note. Surety1 will offer approval in as little as two hours.
The last thing anyone needs when they are trying to sell a property is for the entire process to be put on hold while the seller tries to figure out how to get a surety bond. With substantial “in house” binding authority, Surety1 is usually able to make the underwriting decision without sending the paperwork to the surety bond market. As such, Surety1 is often able to obtain approval for the surety bonds within hours of obtaining the necessary underwriting information.
The bond amount must be equal to two times the original note’s value. The premium paid is a one-time fee, and the bond remains on file with the county recorder for three years. The staff members at surety1 are California Lost Trust Deed or Lost Trust Note experts who are willing to answer all of your surety bond questions.
For more information on obtaining a California Lost Trust Deed or Lost Trust Note surety bond, you can contact Surety Solutions through its website, http://www.surety1.com, by calling toll free, 877-654-2327 or by e-mail, info(at)surety1(dot)com.
*subject to underwriting approval
Read the full story at http://www.prweb.com/releases/2012/6/prweb9603141.htm
|Copyright:||(c) 2012 PRWEB.COM Newswire|