Get the free Form No. 886 – Rescission of Notice of Default
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This document serves to rescind a previously recorded notice of default regarding a trust deed in the state of Oregon, reinstating the trust deed as if the default had not been given.
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How to fill out form no 886 rescission
How to fill out Form No. 886 – Rescission of Notice of Default
01
Obtain a copy of Form No. 886 – Rescission of Notice of Default from the appropriate authority or website.
02
Read the instructions included with the form carefully to understand the requirements.
03
Fill in your personal information at the top of the form, including your name, address, and contact information.
04
Provide details about the Notice of Default you are rescinding, such as the date it was issued and the property address.
05
Clearly state your reason for rescinding the Notice of Default in the designated section.
06
Sign and date the form to certify that the information provided is accurate.
07
Submit the completed form to the appropriate office or agency as instructed in the guidelines, ensuring you keep a copy for your records.
08
Follow up to ensure that the rescission has been processed and confirmed.
Who needs Form No. 886 – Rescission of Notice of Default?
01
Homeowners who have received a Notice of Default and wish to formally rescind it.
02
Individuals or entities involved in a mortgage modification process.
03
Borrowers who have resolved the issues that led to the Notice of Default being issued.
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What is Form No. 886 – Rescission of Notice of Default?
Form No. 886 is a legal document used to officially rescind or cancel a previously issued Notice of Default, which is typically related to mortgage or loan defaults.
Who is required to file Form No. 886 – Rescission of Notice of Default?
The property owner or their legal representative is required to file Form No. 886 if they wish to rescind a Notice of Default that was previously filed.
How to fill out Form No. 886 – Rescission of Notice of Default?
To fill out Form No. 886, the filer must provide relevant details such as the property address, the date of the original Notice of Default, and any pertinent personal information of the property owner. It’s important to follow specific instructions on the form to ensure accuracy.
What is the purpose of Form No. 886 – Rescission of Notice of Default?
The purpose of Form No. 886 is to legally declare that the Notice of Default is no longer valid, often because the issues that led to the original notice have been resolved, such as the mortgage being brought current.
What information must be reported on Form No. 886 – Rescission of Notice of Default?
Information that must be reported includes the date of the original Notice of Default, the property owner’s name, the property address, and affirmation that the Notice of Default is being rescinded.
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