The following is the break down of the process. There is also a link at the bottom to access the actual California statute on the subject of foreclosure.
The following time-line is applicable for non-judicial California Foreclosures under a Deed of Trust. Foreclosures begin with the Trustor (borrower) not making the monthly payments to the Beneficiary (Lender), the first missed payment is technical default, but in practical terms, most Beneficiaries do not begin the process until the third payment is missed. If the Beneficiary cannot resolve the defaulted payment amount with the Trustor through Forbearance or other Loss Mitigation measures, the Beneficiary will instruct the Trustee to begin Foreclosure proceedings.
Notice of Default is filed with the county recorder.
Within 10 business days
Mail Notice of Default to borrower address
Within 1 month
Mail Notice of Default
After 3 months
Set Trustee Sale date
25 days before Trustee Sale date
Send notice of sale to I.R.S.(when necessary)
Within 10 days from 1st publication of Trustee Sale
Send beneficiary request for property directions
14 days before Trustee Sale date
Record Notice of Trustee Sale
7 days before sale date
If court action, 7day rule may apply
5 business days before sale date
Expiration of borrower's right to re-instate the loan
Property is sold to highest third party bidder or reverts to Beneficiary at public auction
Article 1. Mortgages
in General ........................... 2920-2944.7
[foreclosure states in section 2924]
Please click accept, and I can help with further questions if you have them.
Please Note: JustAnswer.com is a public forum. JustAnswer.com is not a law firm. JustAnswer.com is only a question and answer site. Asking a question does not create an attorney-client relationship nor is your question protected under the attorney-client privilege. An attorney-client relationship is established when you enter into written contract for representation and pay a retainer directly with the attorney or attorney’s firm.
JustAnswer.com uses the term “Expert”. I do not hold myself as an expert when I answer your questions. The information given by me is not legal advice. I am not establishing an attorney-client relationship with you. I am providing only research, resources and information only for you to be informed and educated about your particular needs and my answer is limited to the facts presented. You are only paying me for such information given.
My answer or reply is limited to your facts presented and additional information you post may not come in after my reply or answer has posted, if this has occurred please let me know and I will answer further. Due to site tech reasons, oftentimes I am initially only able to see the first part of your post, so this may result in more interactions between us. There might also be a delay in my reply or answers, as I may be helping other customers, or called away from my office or have logged off. Please be assured your question(s) will be answered promptly.
If I have been helpful, please click Accept for my time and research, this is the only way I get paid. If you need more help or clarification, please click reply. Positive Feedback is greatly appreciated and reciprocated. Feedback should relate to customer service and not about the law, which I have no control over. You can always request me through my profile here or beginning your question with “Attention lawNinvest” Thank you.