Foreclosure Time Line
Foreclosure Time Line
The timeline displayed here is typical in a California non-judicial foreclosure. The foreclosure timeline does not begin until the lender feels they have exhausted all avenues for curing the payment delinquency. Normally, this happens after the borrower has missed three monthly mortgage payments and the Notice of Intent to Foreclose has expired. The borrower has probably been contacted by the lender several times prior to beginning the foreclosure process. The lawful foreclosure process then begins by the lender contacting a Trustee and instructing that a Notice of Default be filed.
Calendar Action
Day 1 – 3 Notice of Default recorded with county recorder
Within 10 days Trustee mails Notice of Default to borrower and anyone with a Special Request of Notice
Within 1st month Mail Notice of Default to all parties with an interest in title
After 3 month Set sale date
25 Days Prior to Sale Date Send Notice of Sale to IRS (if applicable)
20 Days Prior to Sale Date Publish Notice of Sale
Post Notice of Sale
Mail Notice of Sale
Begin publishing Notice of Sale in a adjudicated newspaper
14 Days Prior to Sale Date Record the Notice of Sale with county recorder’s office
7 Days Prior to Sale Date Trustee cannot sell for 7 days after expiration of bankruptcy court order
5 days Prior to Sale Date The borrower’s right to reinstate expires
Sale Date The property is sold to highest bidder or reverts back to lender
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OCHomehelp.com is a team of Orange County Short Sale and Foreclosure Specialist’s. They are comprised of a team of real estate agents, loan modification experts, short sale specialists, attorneys, and title officers.
This might be a good place for you to start if you are confused and scared. They offer a free and 100% confident consultations.
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