Stop Foreclosure California

Did you know there are several programs that can help save your California home and stop the impending foreclosure? Loss Mitigation Agencies, such as ours, are experts in these programs and have assisted thousands of homeowners by providing straight answers and viable solutions.

Sometimes things beyond your control can put you into a financial bind that makes it hard to keep up with your mortgage payments. Don't let a missed mortgage payments in California CA turn into default, mortgage foreclosure or eviction.

You and your family can rely upon us to provide guidance, comfort and assurance through this current situation. Let us reduce your stress and put you at ease.

Complete the quick form on the right side of this page and our professional loss mitigation legal expert will contact you!

There is no obligation and all information is strictly confidential.

California CA Foreclosure Laws

Lenders in the state of California may foreclose on deeds of trusts or mortgages in default using either a non-judicial or judicial foreclosure process.

Judicial Foreclosure

A judicial process of foreclosure requires that the lender file a lawsuit and attain a court order to foreclose on a particular property. This type of process is generally used when no power of sale is present in the mortgage or deed of trust. A power of sale is a clause found in a deed of trust or mortgage that authorizes the sale or transfer of land as outlined by the terms of that clause.

Lenders using the judicial foreclosure process in California are allowed to seek a deficiency judgment. The borrower, under specific circumstances, may have the opportunity to redeem the property up to one (1) year after the sale.

Non-Judicial Foreclosure

If a power of sale clause exists in the deed of trust or mortgage document, a non-judicial process of foreclosure is used. This allows the lender to sell the property and pay off the balance of the loan in the event the homeowner defaults. The power to sell may be completed by the lender or their representative in situations where a power of sale exists. The procedure for this type of foreclosure process is explained in the "Power of Sale Foreclosure Procedure" listed below.

Power of Sale Foreclosure Procedure

If the deed of trust or mortgage has a power of sale clause and it details the time, place and terms of sale, then the outlined procedure must be followed. However, if the power of sale clause, does not clarify the time, place and terms of sale, the following procedure must be followed:

A notice of sale must be recorded in the county where the property is located at least fourteen (14) days prior to the sale. The notice must be mailed by certified, return receipt requested, to the borrower at least twenty (20) days before the sale. Notice must also be posted in a noticeable location on the property itself at least twenty (20) days before the sale; and posted in one public place in the county where the property is to be sold.

Up until five (5) days prior to the foreclosure sale, the borrower can cure the default and stop the foreclosure process.

The sale must take place at the location specified in the notice of sale on a business day between the hours of 9:00 a.m. and 5:00 p.m. Anyone can bid at the public auction sale. The winning bid is the highest bid. Proof of a bidder’s ability to pay their full bid amount may be required by the trustee. The sale may be postponed by announcement at the time and location of the original foreclosure sale, if necessary.

Lenders using the non-judicial foreclosure process are not allowed to seek a deficiency judgment. The borrower has no rights of redemption.

Lenders may not seek a deficiency judgment after a non-judicial foreclosure sale and the borrower has no rights of redemption.

Legal Information Is Not The Same as Legal Advice This site provides information about California state foreclosure law designed to help users safely cope with their own legal needs and possible find alternatives. Everyone's legal status is different. The laws of every state are in constant change and we recommend you consult a lawyer.