You are not alone! (And we have a fantastic network of professional real estate investors located in California who can help you today if you choose to sell using one of the methods outlined in this report).

Overview of the California Foreclosure Process:
The foreclosure time clock starts when the mortgage lender files a Notice of Default (NOD). The NOD is filed with the county recorder. It is also mailed to the borrower as well as to other parties who may be affected by the foreclosure. This document identifies the terms of the foreclosure, such as the amount owed to the mortgage lender, and the date by which the borrower must pay all principal and interest owed, including fees.

The borrower can pay off the total amount owed (including fees) up to five days before the trustee’s sale.

The next step in the process is at ninety days. California requires that a Notice of Trustee Sale (NTS) be posted both on the property and in a local, public place. It also must be published a local newspaper. The lender must publish the NTS once a week for a period of three weeks, and at least twenty days before the trustee sale.

The borrower also receives a copy of the NTS from the lender. Since this is a public document, anyone who requests a copy can receive one.

The NTS details the location of the trustee sale, the date and time of the sale, the address of the property being sold, and the trustee’s contact information. It must be filed at least fourteen days before the sale.

The last step of the foreclosure process is at day 111. At least 111 days after the clock started on the foreclosure process is the Trustee Sale Auction. The trustee sale is held in a public place (usually the county courthouse). A representative of the lender conducts the sale. The successful bidder receives a trustee’s deed immediately at the sale (for which he or she pays in full with cash or a banker’s check). Most often, however, the lender is the successful bidder, at which point the property becomes part of the lender’s REO (real estate owned) portfolio.

Call us today for a free confidential evaluation.
We will talk with you about your situation, what you would like to do and then give you a realistic evaluation of your situation. What we tell you may not be what you want to hear, but it is as accurate as possible based on our years of experience in dealing with hundreds of situations similar to yours. Contact us today at 818-704-7015 or visit us at http://www.vestedinterests.net to set up your free, confidential evaluation.