FOR CALIFORNIA (NON-JUDICIAL)
The timeline displayed here is typical in a California non-judicial foreclosure. The foreclosure timeline does not begin until the lender has 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 lender will try to contact the borrower 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.
* New California law extends the time period before the filing of a notice of sale by 90 days beyond the current three month period following the filing of a notice of default. The extended time period applies to owner-occupied homes where the first loan was recorded between January 1, 2003 and January 1, 2008. For more information please consult an attorney and the California Foreclosure Prevention Act (Assembly Bill 7 of the Second Extraordinary Session – ABX2 7).
Matters pertaining directly to foreclosure are set forth in California law. Information deemed reliable but not guaranteed and is subject to change. (02/08 LB)