The California Foreclosure Process

When owners miss mortgage payments, the lender directs the person named as the trustee identified on the deed of trust to commence foreclosure. The lender does this by recording a notice of default and mails this to the owners.

If the owners fail to pay arrearages and costs within the first three months the trustee will send a notice of sale setting the date, time and place for the trustee's auction. The entire process from notification to sale at an auction only takes about four (4) months to complete.

Having now received a notice of sale, they realize they cannot "cure" the foreclosure and must themselves try to sell the property and salvage whatever equity which has been built over the years by their diligently making payments on time.

Owners still have time to "cure" the foreclosure by reinstating the loan. They can pay the amount owing on the loan plus costs up to five (5) business days prior to the sale date.

Some owners, however, are unsuccessful in solving this problem. They, of course, have known about the problem even before they received the notice of default and have work diligently to save their equity.

The foreclosure process is quick, however, the Equity Rescue Program can solve the owner's time and money problems!

If you are an owner in foreclosure contact us for a FREE Consultation to find out more.