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California Foreclosure Timelines and Foreclosure Information for California

[youtube width=”425″ height=”344″]http://www.youtube.com/watch?v=Hfds0OnGxcA[/youtube]

 

 

Forth Hoyt, Certified Residential Specialist, Certified Distressed Property Expert, Certified HAFA Specialist, Certified Home Retention Specialist, among others, explains the California State Foreclosure Time Frames, Foreclosure Timelines in California And Time to Foreclose in California

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Graph of Time to Foreclose in CA
CA – Time to Foreclose
California State Foreclosure Time Frames, Foreclosure Timelines in California And Time to Foreclose in California
Graph of Time to Foreclose in Sacramento County06067 – Sacrameto Time to Foreclose
Sacramento County Foreclosure Time Frames, Foreclosure Timelines in Sacramento And Time to Foreclose in Sacramento California

What is the time to foreclose in California?   Get the Latest Charts on California’s Foreclosure Timelines  here.

…but how long does foreclosure take  in Sacramento,

According to Forecloureradar.com, the average time for a foreclosure to be completed in Sacramento County is now 270 days.

The timelines for California Foreclosures now stands at 319 days.  On both Foreclosure Timeline Charts, this is the amount of time from the beginning of the foreclosure process to the trustee sale.

These calculations of time to foreclosure in Sacramento and Sacramento foreclosure process time lines both  use the filing of the Notice of Default as the initial day of the foreclosure process. It does not take into consideration the amount of time the homeowner made no payments before the NOD was filed.  Depending on the bank, servicer and investor of each loan, this can be anywhere from 90 days to over two years…. since the last payment (The NOD legally cannot be filed until the loan is 60 days past due).

 

The legal foreclosure Time Lines in California and Time Line Chart for the

Legal Non-Judicial Foreclosure Process in California is:

Foreclosure Timelines In California

Foreclosure Time lines in California

Day 1 Start of foreclosure

Homeowner is at least Sixty days late; Notice of Default is recorded

(loan must be at least 60 days late, or 90 days after last payment)

Start of foreclosure process is the Notice of Default Initial notice recorded after borrower fails to meet the terms of their loan.

CC 2924c.(a)(1)

Day 90 (minimum) Notice of Trustee Sale is recorded

Sets auction date(Trustee Sale).  Can be recorded 3 months after Notice of Default

CC 2924 c. (b)(1)

Day 111 (minimum) Foreclosure Auction (Trustee Sale)

Initial auction date can be just 20 days after Notice of Trustees Sale is recorded.  (21st Day)

 

CC 2924 f. (b)(1)

Sacramento County Trustee Sale Location: Sacramento County Trustee Auctions are held nearly every business day at 720 9th St. Sacramento.

Auctions can postpone for up to one year.

CC 2924 g. (c)(1)

Transfers property to winning bidder. By default this will be the lender if no bid higher than the lender’s opening bid is received.

CC 2924 h. (c)

There have been changes made to the California foreclosure timeline, by legislation passed in order to extend the foreclosure process in California, but realistically was only a foreclosure delay, because essentially all of the investor/servicer/banks have complied with the new law and and are exempt from the extended foreclosure time lines in California.

New Government Foreclosure Prevention Program Eligibility- Which Programs Do You Qualify For?

Contact us Today At Forth Hoyt’s Sacramento Short Sale Center

In closing, always obtain legal and tax advice before making a decision between a short sale or a foreclosure.

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