Legal Question in Real Estate Law in California

Re: what to expect when my home forcloses?

The trustee's sale process (the most common form of foreclosure) takes 90+21 days, starting from the day they record and serve the notice of default. Assuming that your lender is the successful bidder at the trustee's sale, they would then have the right to institute an eviction. To evict you, they first have to serve you with an eviction notice (at least 3 days, maybe 30) and then serve you with a lawsuit. You have 5 days to answer and the court schedules the eviction trial within 20 days of your answer. Once the lender gets a judgment after a trial, they have to send the judgment to the sheriff to lock you out, which usually takes another 5-20 days.

Short answer; the process usually takes about 6 months start to finish.

Re: what to expect when my home forcloses?

Your questions leaves a lot to be desired. Lender, you mean the person who loaned the money to to whom you pay a monthly amount generally known as the "mortgage" on your residence. You're behind in payments or close to it??? If this is the case then at some point in time the lender will record and mailed you a notice of default. You have 90 days, not three months, 90 days, tell them, from start to finish where you can pay to the trustee of the deed of trust all monies due and owing and unpaid on the promissory note. That is not just limited to your monthly payment. It would include the monthly payments, late fees, costs of foreclosure, and any other amounts due or monies that the lender previously paid on behalf of you if you did not pay them, i.e. real property taxes. That is bringing the note current. On the 91st day or shortly thereafter, and I do mean shortly the lender will publish and record a notice designating the date and location of the foreclosure sale on the specific property with the minimum amount owed for 21 days later. On that day and date if everything goes accordingly they will put the residence up for sale at auction whereupon open bidding will take place. The monies first go to the lender to pay the lender off including all costs which includes the auction costs. If there is still money left over and there are no further recorded liens or encumbrances on the real property, the rest goes to you. You must claim that money and you must do something overtly a year on behalf. . If you do not voluntarily move out of the house the lender will the institute a unlawful detain or legal proceeding in the superior court the county in which the residence is located and shortly thereafter in all probability, within 30 to 60 days maximum after the suit has been filed get a judgment against you which includes attorneys fees for all of this. If you still did not move out of the lender will secure the services of the sheriff of the county in which the house is located. The cheerful couple were personally and evict you and all of your furniture onto the front lawn. I mean that seriously. Beginning to end, you do the math. More importantly you lose all the equity in the residence as the auction will produce them minimalist amount of money to buy the property, or basically "steal " the property. Do not let this happen!!!! Now before any of this crap even starts go see a real estate attorney who is schooled in real property/foreclosure's. There may be lighted the end of the tunnel, miracles do happen but you'll must do something to make it happen.i have been practicing law in this speciality for over 30 years in the san francisco bay area and if you wish to consult with me you can contact me at 925-945-6000.