Many homeowners are unclear regarding the foreclosure process in California. Here is the non-judicial foreclosure process in California at present time:
The following time-line applies to non-judicial California Foreclosures under a Deed of Trust. (non-judicial foreclosure is used far more commonly in California than a Judicial Foreclosure and California is a “one-action” state)
Nearly 8% of all mortgage holders in the U.S. are at a serious risk of losing their homes and 14% are at some stage of delinquency, according to the Mortgage Bankers Association. That means that nearly 4.3 million homeowners may need to short sale. These homeowners are either in foreclosure or are at least 3 payments behind. If they can’t modify quick they may need a trained real estate professional, like you.