Legal Question in Real Estate Law in California

Mortgage Default

When, by California Law, can a mortgage lender consider your loan in default, i.e. the minimum number of days before he can legally file foreclosure, and specifically what law/statute covers this time frame?


Asked on 9/11/08, 5:43 pm

1 Answer from Attorneys
Stanley Moerbeek The Law Offices of Stanley L Moerbeek

Re: Mortgage Default

Assuming that your loan has no payment grace period, or late fee provision, your loan is in default the next day after the monthly due date, or such other date as is prescribed for the payment under the promissory note for the deed of trust . Most lenders do not push that early date in such an extreme manner. But there is no law that I'm aware of that prevents them from doing so. California foreclosure laws under deeds of trust can be found commencing at Civil Code, section 2924, et. seq.

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Answered on 9/11/08, 6:49 pm


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