California Foreclosures
| State |
Judicial |
Non-Judicial |
| California |
|
• |
A Non-Judicial Foreclosure takes place when there is a “Power of Sale” clause in the mortgage documents. This clause allows
the lender to foreclose and gain possession of the property without the involvement of the court system. In states which allow a
Non-judicial Foreclosure the lender normally is required to post notice in a public legal publication that they have begun the procedure
of foreclosure. They are required to post these notices more than once. Most states require three postings. Once the third posting in
made, the lender may give “power of attorney” to anyone they wish to sell the home at public auction. Several states allow this process
to be completed in three weekly postings or 21 days from the date of the first posting.
- They must have a “Power of Sale” clause in the mortgage documents.
- They must post notice in a legal, public news publication.
- After 21 days or more and three consecutive postings, the lender may have the property sold at public auction.
Click here to review California's state legislation