What are the foreclosure statutes in my state?

In California, foreclosures are governed by the state’s Foreclosure Law. The law provides directions for foreclosing on residential and commercial properties, and outlines the rights and responsibilities of both the borrower and lender. Generally, the lender must provide a notice of default to the borrower when they are not current on payments. The notice informs the borrower that the debt is unpaid, and gives them a certain amount of time to make payments. If the borrower does not make payments, the lender can initiate foreclosure proceedings. The foreclosure process can take several months and includes various steps. The lender must provide the borrower with a notice of trustee’s sale, which is public notice of the foreclosure. The borrower has the right to redeem the property before the sale occurs by paying all amounts owed on the loan. The lender is also required to give the borrower a notice of intent to sell, which states the date, time, and place of the sale. The lender must provide a copy of the notice to the borrower fifteen days before the sale. The sale must take place at least fifteen days after the notice has been sent. Finally, the foreclosure is complete when the sale is conducted and the lender is paid. The borrower does not have any rights following the sale, and the lender will take ownership of the property. Overall, California’s Foreclosure Law provides a framework for how foreclosures should proceed in the state, protecting the rights of both the borrower and lender.

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What are the foreclosure statutes in my state?

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