What are the foreclosure timelines in my state?

In California, the foreclosure process can take several months to complete, depending on when and how the bank initiates the foreclosure. Generally, the process begins when the homeowner misses one or more mortgage payments. After this, the lender sends a Notice of Default and Recordation. This informs the borrower that they are in default and the foreclosure process has begun. The lender then files a Notice of Sale with the county recorder’s office. This document tells the borrower and the public that the lender has the right to sell the property at auction. This notice also informs the public of the date, time, and location of the sale. The sale must take place at least 20 days after the Notice of Sale has been filed. The home is then sold at a public auction. Unlike most auctions, in California the highest bid is not automatically accepted. Instead, the lender then has the power to decide whether or not to accept the highest bid. If the lender chooses to do this, the property is officially sold and the foreclosure process is complete. Otherwise, if the lender decides not to accept the bid, the property can be put up for auction again. Overall, the foreclosure process in California is a lengthy one that can take several months in some cases. The timeline begins when the lender sends the Notice of Default and Recordation and ends with the sale of the property at auction or when the lender chooses not to accept the highest bid.

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What are the foreclosure timelines in my state?

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