California Foreclosure Laws and Process

Timeframe

Statutory: 112 days

First Legal Action

Recording Notice of Default

Mailing Period

Notice of Default: Within ten (10) business days and one (1) month after recording of Notice of Default

Notice of Sale: Twenty (20) days prior to the date of sale

Publication

Once a week for three (3) weeks

Reinstatement

Five (5) days prior to date of sale

Postponements

Not to exceed 365 days

Miscellaneous

SB1137 – requires due diligence to contact borrower prior to initiating foreclosure

Foreclosure Prevention Act – effective in the near future (June 2009) – will require an additional ninety (90) days waiting period after the three (3) month redemption