California Foreclosure Procedure
Method of Foreclosure: Power of Sale.
Number of Notices: Two: Notice of Default and Notice of Sale.
Amount of Notice Required: For a Notice of Default, three months. For a Notice of Sale, twenty days.
Content of Notice of Default: a) identify the mortgage; b) nature of the breach; c) election to sell to satisfy obligation; and d) if curable. Notice must be filed in the county where the mortgaged property is located.
Notice of Sale: a) time and place of sale; and b) total amount due plus a reasonable estimate of costs and expenses. Name, instate street address and toll-free or instate telephone number of the trustee or its agent. Street address or legal description of property. If personal property or fixtures are to be sold, these must be described.
Method of Service: By certified or registered mail, and by regular first class mail and by publication once a week for three weeks, beginning twenty days before the sale, in a newspaper of general circulation, and posting in a public place and in a conspicuous place on the property. Notice of sale must also be recorded.
Right to Cure Default/Reinstate: Can cure within five days before the sale.
Redemption: None, if foreclosed by a power of sale.
Deficiency: No deficiency judgment under a power of sale foreclosure.
For further details please contact me at 714-241-4532 or email me at larry@OCRepoBroker.com
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