A Typical Foreclosure Timeline in California
Posted Sep 11, 2007 @ 7:00 pm, Viewed by 2286 Visitors, Read 2415 Times.The trigger point in California for a lender to begin the foreclosure process typically occurs after a borrower has missed three payments. California is a Deed of Trust state and the lender contacts the Trustee and instructs them to file a Notice of Default.
Within 10 Business Days
The Trustee mails the Notice of Default to the borrower and anyone who has filed a Special Request for Notice.
Within 1 Month
Mail Notice of Default to all parties with an interest in title.
After 3 Months
Set the sale date.
25 Days Prior to
Send notice of
20 Days Prior to
Publish the Notice of Sale, Post Notice of Sale, Mail Notice of Sale, Begin Publishing Notice of Sale in an adjudicated newspaper (must run 3 consecutive weeks).
14 Days Prior to
Record the Notice of
7 Days Prior to
The Trustee cannot sell for 7 days after expiration of bankruptcy court order.
5 Days Prior to
The borrower's right to reinstate expires.
The property is sold to the highest bidder or reverts back to the lender.
Notice of Defaults and Foreclosures are still rare in Davis but are seen more often in Woodland and West Sacramento. The best course of action to avoid foreclosure is to keep a clear line of communication going with the lender before the loan gets to the Notice of Default stage.
Carolyn Gjerde-Tu is a Broker Associate with Lyon Real Estate. Visit Discover Davis Homes to get the latest information on Davis Real Estate or Discover Sacramento Homes your source for all of Sacramento Real Estate
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Gene, the timeline that I listed above is the quickest that a lender can start the foreclosure process. In the year since I first wrote this post some lenders are waiting longer to start the foreclosure process, I've heard cases of lenders not starting the foreclosure process up to a year after the first payment is missed.
To answer your question directly if a notice of default is filed and then cured, meaning that the missed payments are made and late fees and penalties are also paid that stops the foreclosure process.
If you know someone who is having a hard time making payments the best thing they can do is to contact the lender right away to learn their options.
Trent
My lender recently filed a NOD, I will not be able to keep the home. I know they can set a "sale date" 3 months from the file date. What I'm trying to find out is once the sale date is set...how long do i have to remain in the house? When do I technically need to vacate?
Thanks 
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I'm a Broker Associate with Lyon Real Estate in the Davis Office. My focus is on internet marketing to best help buyers and sellers of Davis and Greater Sacramento Real Estate achieve their goals. Read More
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Just read the timeline for foreclosure. Have a question.
Will they only start the process after missing three payments?
Let's say the homeowner misses three payments and gets a notice, they pay all back payments getting caught up to date, does the time line start over again?