Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

What Is A Non Judicial Foreclosure
What Is A Non Judicial Foreclosure| Non-judicial foreclosures are processed without court intervention, with the requirements for the foreclosure established by state statutes. Most Foreclosures in California are Non-Judicial foreclosures.
In a Non-Judicial Foreclosure there must be a power of sale clause in the mortgage/loan document or deed of trust. This is a clause saying that the home owner agrees to allow the lender to sell the home in the event the buyer defaults on the loan. Of course there are a number of steps involved that allow the home owner to “make good” on the loan by catching up payments and even renegotiate the loan so they can stay in their home.
If that’s just not an option the homeowner can exercise, eventually the Lender will publish a Notice of Default, a Notice of Sale will be mailed to the homeowner, posted in public places, recorded at the county recorder's office, and published in area legal publications. After the legally required time period has expired, a public auction will be held, with the highest bidder becoming the owner of the property, subject to their receipt and recording of the deed.
If the home owner as not already ... more

__________________________________________________
Are you on The Rain? Grow Your Network!