Foreclosure timeline in California

Foreclosure timeline in CA 280x150

Are you confused about the foreclosure timeline in California?

Many homeowners on the Westside, Culver City, Beverly Hills, Westchester and Mar Vista have no idea what kind of timetable they are looking at when facing foreclosure in California. Some think it is one month after the first missed payment while others think it’s much longer.

The best method to avoid foreclosure in California is to understand the timeline governed by state law.

I created a timeline for non-judicial foreclosures based on California law that is easy to visually understand.

If you are facing a short sale, foreclosure or are even researching loan modification in Beverly Hills or Culver City then you need all the resources can get to make educated decisions.

Get a free download of the California Foreclosure Timeline (PDF).

Here is a brief overview of the foreclosure process in California:

The process is initiated once the borrower defaults on their loan. Notice of Default (NOD) is filed one month plus one day on missed payment. One month plus one day of missed payment you want to be aware of the California timeline, because you’re walking on that tightrope.

A NOD is the official notice that foreclosure has been filed and is being pursued. A borrower will know if an NOD has been filed because they will have been served in person or through some certified mailing. This may be a thick stack of legal documents, which may look very threatening.

California is unique in its foreclosure laws as lenders can seek remedy from defaulting homeowners by either through judicial (court) or non-judicial foreclosure process.

Most lenders do not want to spend the time and money through the court system pursuing a judicial foreclosure. If there has been significant fraud or waste by the homeowner the lender may, in rare cases, pursue a judicial foreclosure.

The non-judicial foreclosure process is much more streamlined. The foreclosing lender need not go through the court system in order to legally foreclose on any borrower. In California a foreclosure takes a minimum of approximately 121 days. Currently because of the backlog at the banks the time can be much longer.

Short sales and foreclosures have become an epidemic here on the Westside of Los Angeles. Quiet neighborhoods in Culver City and Beverlywood have seen their lives turned upside down. There are alternatives to foreclosure.

Helping one family at a time avoid foreclosure by overcoming obstacles through education is my goal.

Call or e-mail me if I can be of assistance.

 

Free Download: CA Foreclosure Timeline 07/2012

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