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California Time-line for Defaults |
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California Timeline for Defaults
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.
| Day 1 |
Record Notice of Default |
| Within 10 business days |
Mail and publish Notice of Default |
| Within 1 month |
Mail Notice of Default |
| After 3 months |
Set sale date |
| 25 days before sale date |
Send notice of sale to I.R.S.(when necessary) |
| Within 10 days from 1st publication |
Send beneficiary request for property directions |
| 14 days before sale date |
Record Notice of Sale |
| 7 days before sale date |
If court action, 7day rule may apply |
| 5 business days before sale date |
Expiration of right to re-instate the loan |
| Sale date |
Property is sold to highest bidder at public auction |
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