My question involves collection proceedings in the State of: California
Hello I have a secured recourse promissory note dated June 18th, 2007. Payment in full with interest was due on October 21st, 2009.
I want to protect my note and position on the property. Someone told me that i need to send a quarterly notice of default to the borrower so that i don't forfeit my position on the property.
I am not trying to foreclose the property, i just want to be patient and wait till the owner wants to sell.
Do you know what kind of notice i need to send and how often i need to send it. Is there anything else i need to do?
Thank You

