The foreclosure process is, of course, much longer than just 5 steps. However, for California probate purposes these are the basics. Of course when dealing with a foreclosure in a trust, estate or probate situation you should hire a California lawyer who specializes in this area of law.  The 5 steps are:

Step 1 Notice of Default (“NOD”) is Recorded with the County (day 1);

Step 2 Reinstatement of Loan can occur any time up to and including 5 business days before the sale;

Step 3 Foreclosure Sale Date Is Set (3 Months, or later, following Notice of Default date);

Step 4 Notice of Trustee Sale is prepared by the bank, published, recorded, mailed and posted;

Step 5 Foreclosure Sale Date (Sold at Public Auction on the Court house steps, generally 3-4 weeks following Notice of Sale; by law this may be as few as 111 days).

Notice there is nothing about about death, filing for probate, letters testamentary issuing or anything else like that.  Why?  This is because probate does NOT stop foreclosure!

If you are dealing with an insolvent estate or upside down in a probate situation please contact me at once as time is likely of the essence.  In some cases we can put money in your pocket even if the house is upside down!

-John