24 Hour Assistant
M. A. BAGBY INSURANCE BROKERAGE CA LIC.#0450126
NEED A CALIFORNIA LOST NOTE BOND / LOST TRUST DEED BOND
Tel 888 950-8883
1. Completed application. This means fill in all blanks! The application needs to be signed twice:
first as applicant and second as indemnitor. If corporation: in “signature of applicant” area president and secretary sign. The owners and spouses sign in the “Individual indemnities” section of the application. IMPORTANT: !~~: “To Whom is Bond Given? (Name & Address of Obligee Is the entity that would be accepting the bond to reconvey (clear title). Usually the Trustee on the original Deed of Trust or the Title Company.
2. Affidavit signed & notarized: PLEASE NOTE WE MUST HAVE AT LEAST AN APPROXIMATE DATE THE NOTE WAS PAID IN FULL (NO BOND CAN BE ISSUED WITHOUT IT).
3. Proof of payment: Attach all proof of debt payment records for example, canceled checks, payment book or other means.
If payment records unavailable submit a statement explaining the reason payment records are not available and advise the reason you
believe the debt was paid in full!
4. Copy of the current preliminary title report. Contact escrow to obtain this report!
5. Send notice to lender at last known address: Part of California civil code 29411 requires that the property owner contact the beneficiary in a very specific way. The property owner must send a certified/return receipt notice to the lender (beneficiary) at their last known address (obtain from upper left hand corner of recorded trust deed). For convenience, a sample notice to send to the lender is attached for the property owners use.
6. Declaration completed, signed and notarized. This document becomes public records so please type or clearly print on the form. The declaration states that you completed item #5 (above).
7. Payment: If the client is forwarding the premium we will only be able to accept a cashier’s check or money order! If escrow is paying please fill in and sign attached “escrow client payment agreement” and include the client’s credit card information and authorization.
The bond amount is double the amount of the note unless otherwise advised. The cost is based on applicant qualifications but the average cost is 2% to 3% of the bond amount, depending on the complexity of the bond, and subject to $150.00 MINIMUM PREMIUM.
NOTE: THE ORIGINAL BOND REQUIRES THE SIGNATURE OF THE APPLICANTS. THE APPLICANTS’ SIGNATURE ON THE BOND MUST BE NOTARIZED.
Simply Down Load our Application and Fax it to (562) 381- 7006
or email to mabagbyinsurance@yahoo.com
Contact Information
Copyright © 2000
Last modified:
11/17/11