California Foreclosure Timeline
The Foreclosure Procedure Includes Five Events
Event 1: Missing a Single Payment - The foreclosure procedure may begin when you miss a single monthly mortgage loan payment (delinquency). A lender or its servicing agent is required to contact the homeowner 30 days in advance if initiating foreclosure.
Event 2: Notice of Default (“NOD”) - The recording of the NOD officially begins the foreclosure procedure. You will receive a copy of the NOD by certified postage prepaid mail. After the NOD is recorded, an initial minimum three month period is required to provide you with the opportunity of curing theefault and reinstating your mortgage loan.
Event 3: End of the Initial Three Month Reinstatement or Cure Period - Your lender can schedule the foreclosure sale of your home.
Event 4: Notice of Sale (“NOS”) - The NOS is posted on your home and published in an authorized newspaper of general circulation in the jurisdiction where the foreclosure sale is to occur.
Event 5: Foreclosure Sale - When your home sells at the foreclosure sale, the lender may elect to accept the sale proceeds as payment in full.
Source – http://www.dre.ca.gov