Foreclosure, Your Options and What you Need To Know

Day 1
Record "Notice of Default"


Within 10 Days
 Within 10 days of recording the Notice of Default, copies of the recorded document (NOD) are
mailed to the Trustor(s) and anyone requesting Special Notice

Within 1 Month
 Notice of Default is mailed to parties,  pursuant to California Civil Code 2924(c)

After 3 Months
 At the end of 3-month, prepublication period, the Lender can then instruct the Trustee to set a sale
date.  

25 Days Prior to Sale Date
Notice to the IRS must be given, if required

At Least 20 Days Prior to Sale Date
Publish Notice of Sale, post Notice of Sale, mail Notice of Sale

Within 10 Days from first publication of Notice of Sale
Send beneficiary request for property directions

14 Days Prior to Sale
Record Notice of Trustee's Sale

5 Business Days Before Sale Date
Right to Reinstate expires

Sale Date
Property is sold to highest bidder
The Non - Judicial Foreclosure Timeline - California
The following time-line is applicable for California Non-Judicial Foreclosures under a deed of trust.  Foreclosures begin when the Trustor (borrower) does
not make the monthly payment to the Beneficiary (Lender).   

The first missed payment is a 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.
Know Your Options