What is the foreclosure timeline for my state?

The foreclosure timeline for California homeowners is important to understand if you are facing foreclosure. In California, the foreclosure process can take a while to complete, depending on the circumstances. Generally, the timeline begins with a missed payment and a demand letter from the lender. This is followed by the filing of a Notice of Default, which gives the borrower 90 days to remedy the missed payments. If the borrower fails to do so, then the lender can file a Notice of Sale. This gives the borrower at least 20 additional days to make up the payments and avoid foreclosure. The lender must publish a Notice of Sale in a newspaper at least three weeks prior to the sale date. This notice must also be sent to the homeowner. During this time, the homeowner is eligible to file for a variety of foreclosure defense options such as loan modification, short sale, deed in lieu of foreclosure, and repayment plans. From the Notice of Sale date, the homeowner has until the foreclosure sale date to complete a workout or foreclosure defense strategy. The foreclosure sale date must be scheduled at least 20 days after the Notice of Sale. If the homeowner cannot find a way to stop the sale, the lender will conduct the foreclosure sale. If the lender receives a higher bid than what the homeowner owes, then the homeowner will lose the house and be liable for any remaining balance after the sale. The foreclosure timeline in California is lengthy and can be stressful. It is important to understand all of the steps and deadlines associated with the foreclosure process in order to properly defend yourself. It is also important to speak with an attorney who specializes in foreclosure defense law to protect your rights.

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What is the foreclosure timeline for my state?

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