Foreclosed Homes Source

California Foreclosure Timeline

California Timeline

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.

Mail Notice of Default to borrower address

Mail Notice of Default

Set Trustee Sale date

Send notice of sale to I.R.S.(when necessary)

Send beneficiary request for property directions

Record Notice of Trustee Sale

If court action, 7day rule may apply

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