Trust Deed Forclosing

Trust Deed Foreclosure Process

Minimum investment is: $10,000

Are you looking for secure real estate trust deed investments in California real estate?

Check out our available loans now!

Mechanically speaking, the foreclosure process in California is a simple straightforward process that can be completed in about 120 days from the time the Notice of Default is recorded in the County Recorders Office.

After we have exhausted our normal collection practices and we have determined that the only option to collect on your loan is through foreclosure, we will initiate the action promptly.

The process begins with the filing of the Notice of Default at the County Recorders Office in the county where the property is located. The Notice of Default describes the amount delinquent and how much is required to cure the default at that time.

Within 10 calendar days, the trustee processing the foreclosure action must notify the borrower and others who have recorded a request for notice. Within 30 calendar days the trustee must notify other interested parties such as the I.R.S. and junior lien holders of the pending action From the initial filing of the Notice of Default, the borrower has three calendar months to reinstate their loan, before the foreclosure proceeds into what is known as the Publication Period.

The Publication Period of the foreclosure is about thirty days. During this period the trustee conducting the foreclosure will prepare a Notice of Sale and initiate the publication of the Notice of Sale in a newspaper. The Notice of Sale is published once a week for three consecutive weeks in an adjudicated newspaper of general circulation for the particular area that the property is located.

The Notice of Sale is a document that describes the date of the foreclosure sale (auction); the amount in arrears on the loan, and the total amount reasonably estimated to payoff the loan. This amount will include of course, any advances that have been made to a senior lien, taxes, insurance, the cost of the sale (foreclosure costs) or other amounts required to maintain the property.

The borrower may still reinstate the loan up until 5 business days before the Foreclosure Sale. During the last five days before the sale, the lender has the option of accepting reinstatement, or they may choose to demand payment in full.

Once the sale has been conducted the trustee will issue a Trustee's Deed and will vest the property in the successful bidder's name. If the property reverted back to the lender, the vesting on the Trustee's Deed will be exactly as shown on your deed of trust or any subsequent assignments.

If you become the successful bidder at the sale, there are many options to pursue in terms of fixing up the property and keeping it, or marketing the property.

Lantern Financial is here to assist you. We have many years of experience marketing foreclosure properties and can provide expert services to obtain the maximum dollar value for your investment.