California Foreclosure Law
Civil Code 2924
• Record Notice of Default – Day 1
• Mail Notice of Default – Within 10 business days of recording Notice of Default
Post, publish or serve Notice of Default, when necessary
• Mail Notice of Default – Within one month of recording Notice of Default
• Set Sale Date – After three months of recording Notice of Default
• Send Notice of Sale to IRS, when necessary – 25 days before sale date
• Publish Notice of Sale – 20 days before sale date
• Post Notice of Sale – 20 days before sale date
• Mail Notice of Sale – 20 days before sale date
• Request for directions to property sent to requesting bidders – within 10 days from 1st
• Record Notice of Sale – 14 days before sale date
• Trustee cannot sell for 7 days after expiration of court order – 7 days before sale date
• Right to reinstate – 5 business days before sale date
• Property sold at Sale – Sale date
Property that fails to be sold at a Trustee Sale goes back to the bank and becomes REO – Bank-Owned. All liens against the property or any unpaid taxes or fees are settled once a property becomes an REO.
Call today for more information about buying an REO property! 1-800-972-1822.
If you are looking for bank owned homes then you definitely want to register for Home Buyers Scouting Report, the #1 home search tool in America providing access to ALL listings not just REO properties.
Kathleen Daniels, Broker Realtor and Foreclosure/REO Expert
Copyright © 2008, All Rights Reserved by Kathleen Daniels *California Foreclosure Law ~ Foreclosure Timeline*Tags: california foreclosure, california foreclosure law, Foreclosure Search Free, Foreclosure Timeline, reo sale