California Foreclosure Law
Civil Code 2924
Foreclosure Timeline
• 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
Good information. Lucky me I discovered your website by accident (stumbleupon).
I’ve book marked it for later!
A friend of mine lost her home to foreclosure. Her home was foreclosed and she did not even know it. She never got a notice. She found out when the Sheriff arrived to change the locks.
The blessed civil code. If only the banks followed the law – but they don’t. Banks act above the law because they have all the money.
Spectacular site. Lots useful information right here. I’m giving the item to a couple of good friends who are facing financial difficulty and facing foreclosure.
What’s up! This is my first time to comment anywhere. People need to know this information if they are facing foreclosure.
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Thank you for stopping by. We appreciate your kind words.