The lender would need to file a Notice of Default just like any other loan. In CA the foreclosure can take 111 days from the filing of the Notice of Default to the trustee sale. We are in unprecedented times in terms of the delays and postponements. It is nearly impossible to tell you how long you have since they may even wait several months to file the Notice of Default.
Answered by Michelle
Tue Dec 7th 2010 at 1:59pm
In addition, there are other steps that a lender much legally take in order to property foreclose.
Do you have equity in your home or do you owe more then your home is worth?
Answered by Bob Dalsimer
Wed Dec 29th 2010 at 11:39pm