Non-judicial foreclosure process

If you live in a state where the Non-judicial foreclosure is used the process is as follows:

1. The lender files a Notice of Default at the county recorder's office. He mails a certified copy to you.



2. You now have 60 to 90 days (depending on your state) in which you can bring the loan current and stop the foreclosure process.



3. After this period, the lender moves ahead with plans to force the sale called a trustee's sale. It's called the trustee's sale because the trustee will be handling it.
   
   In order to sell it, the trustee records a Notice of Sale at the court house and advertises it in newspaper of general circulation. He advertises it for a period of 3 to 6 weeks.
   
   At this point, some states will not allow you to stop the foreclosure by bringing the loan current. To stop it, you'll need to pay off the loan. Other states will allow you to bring the loan current up to a few days before the sale.



4. The trustee conducts the sale at the courthouse steps.



5. There is a redemption period. During this period, you can still get your house back by paying the full amount owed.
   
   
6. The new buyer gets title after this period has expired.