San Diego Short Sale Specialists | Foreclosure Timeline | Notice of Default

SanDiegoShortSale.TV | Foreclosure Timeline

Foreclosure Definition: when a borrower can no longer afford to make their mortgage payment the title of their property goes through a series of events ending with a bank or private equity firm purchasing it back from the original lien holder at Trustee Sale.

A brief outline of the foreclosure process: NOD (Notice of Default) > NOS (Notice of Sale) > Trustee Sale > Bank Owned > Resale

The amount of time it takes for each bank to foreclosure varies. It is possible to delay or cancel foreclosure through bankruptcy filing, bringing payments current, initiating a loan modification, or requesting a postponement.

Make sure to contact tax, legal, and real estate professionals to aid you in this process.

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