Legal Question in Real Estate Law in California

Your purchase may involve a note and deed of trust, or a mortgage, in which foreclosure is necessary; or it may be an instalment land contract or a marketing contract, in which case there is nothing to foreclose, and a cancelation under the terms of the contract would be possible except for the fact that, if you lose your deposit and subsequent periodic payments, that is a "forfeiture." Equitable principles will usually allow a court to make a decree preventing the forfeiture by allowing you to reinstate your contract by making the missed payments, or to get a refund. The area is complex; contact me with your details for a better answer.

Are you in an installment land contract? Those are rare, but they are subject to special rules regarding rescission and your equity of redemption.