What is the foreclosure timeline?

In California, the timeline for foreclosure proceedings can vary significantly depending on the individual case and the lender in question. Generally, the process will begin when the lender files a Notice of Default (NOD), which indicates that the borrower has not made the mortgage payments and is in default. This is usually followed by a Notice of Trustee Sale (NOTS), which is a public announcement of the sale of the property. At this stage, the borrower can contact the lender to discuss the debt, or contact the appropriate legal counsel to assist in defending the foreclosure case. The homeowner may also file a Notice of Intent to Cure, which must be done no later than five days after the NOTS is filed. This allows the homeowner to pay the full amount of the past-due payments, or make a payment plan proposal to the lender. If the homeowner does not contact the lender or file the intent to cure, the next step will be the actual foreclosure sale. At this point the lender will post a notice of the sale to the property, and the sale will be conducted on the county courthouse steps. If no one bids on the property, the lender will then repossess it. Finally, the lender will then file a Notice of Sale, which officially transfers ownership of the property to the successful bidder. At this point, the homeowner has no legal right to the property, and must vacate the premises. The foreclosure timeline in California typically takes between three to six months, although it can be shorter or longer depending on the circumstances.

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