Legal Question in Real Estate Law in California

Maybe. You may have a right to reclaim, but it would require pay off of the mortgage and costs. Contact the lender that foreclosed.

There is a statutory right to reinstate your loan up until a short time BEFORE a trustee's sale; I believe it is five business days, and some lenders will let you redeem on shorter time, BUT you have to pay all the arrearages, penalties, and costs the lender has incurred in getting ready to foreclose.

After the trustee sells the property, you have only two possibilities:

1. If there was a major irregularity in the sale procedure, including the Notice of Default and the Notice of Sale processes, the trustee's deed can be set aside by a court because of that irregularity. Your lack of knowledge of the sale is not so important as the REASON you lacked knowledge....if you weren't served with the notices, for example, that might be cause for a judge to void the sale. However, if you didn't read your mail, or didn't pick up and sign for your certified mail, that's considered "willful blindness" and doesn't help your case at all.

2. The other possibility is to buy your house back from the high bidder at the trustee sale. The buyer doesn't have to deal with you, of course, if the sale was valid. However, banks don't need all those houses they're picking up because bidding at trustee sales is light, and your lender, if it were the buyer, might be happy to sell it back to you at a small premium over fair market value, which might be lower than their winning bid at the foreclosure auction.

I assume that the foreclosure has already taken place. If that is the case then you would have to file a quiet title lawsuit and allege improper notice of the sale. Your lender must give you 20 days notice the first time the sale is noticed. However if they agreed to a postponement after the first sale date then they do not have to give you that notice. This is what a good loan modification lawyer would have watched out for had you hired one before the law changed and made it unfeasible to practice in this area, Give thanks to Senate Calderon and the Banking lobby for that one!!!l

In any event you will have a tough case and you should immediately consult a real estate attorney who deals with foreclosure issues to make a determination if anything can be done.