California Notice of Default - Flowchart / Timeline
Day 1: Notice of Default is recorded
Within 10 Business Days : Notice of Default mailed to trustors and Special Requests for Notice
Within 1 Month from date of recordation of the NOD : Mail Notice of Default Trustor to all required parties under 29246 (c) (2)
After 3 months : Trustee's sale date can be set
25 days prior to sale date: Notice to IRS must be given if required
20 days prior to sale date : -- Publish Notice of Sale in local paper at least once each week for 3 consecutive weeks with the first date of publication at least 20 days before date of sale. -- Post Notice of Sale. -- Mail Notice of Sale to all parties who were sent the NOD - including any state agency
Within 10 days from 1st publication Notice: Request for directions of property sent to beneficiary (if no known designated property address)
14 days prior to sale date : Record Notice of Sale at County Recorders Office
7 days prior to sale date : Trustee cannot sell for 7 days after expiration of court order
5 business days prior to sale : Right of borrower to reinstate ends
Repossession : At approximately 120 days bank repossesses property. Owners must vacate premises by eviction date.
Sale date : Public Auction, approximately 120 days from mail/post date of Notice of Default, where property may be sold to highest bidder.
For Sale: Homes not sold at Auction are put on the market (MLS) and sold at Bank/Market price.