Sunday, October 28, 2007

California Foreclosure Law

In california lenders may foreclose on properties in two ways:

Judicial or Non Judicial foreclosure

the primary ways lenders secure loans for real estate are with deeds of trusts or mortgages and in our experience most of the focus is on deed of trust.

The timeline for a deed of trust, trustees sale can be typically about 120 days.

There may be a right of redemption with a Judicial foreclosure

Deficiency judgments are sometimes allowed after Judicial (in the courts) foreclosure.

In the past lenders generally used the non judicial foreclosure process because it is faster and "cleaner".

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