Title: What Happens When Your House Is In Foreclosure? | Home Guides | SF Gate
Headings: What Happens When Your House Is In Foreclosure?
What Happens When Your House Is In Foreclosure?
History
Notice of Default
Get the Best Mortgage Rate for You
Trustee
Retention
Trustee's Sale
Eviction

Content: Redeeming your mortgage mean that you pay the full amount that you owe to date on the mortgage, which includes principal, interest, late fees and lender costs incurred so far in the foreclosure process. Trustee's Sale
After 90 days expire, the trustee can hold a trustee's sale where the trustee will sell your house to the highest bidder in a public auction. The lender must publish in a local newspaper a notice of the sale, which notice must include the date, time and location of the public auction. The lender also must also send a copy of the notice of sale to you at least 20 days before the sale. The lender will then hold the sale and deed the property to the highest bidder at the public auction. Eviction
After the trustee's sale, the lender has the right to evict you from the property. Of course, you can voluntarily leave the property on the date of the trustee's sale, which is a good idea to avoid future legal problems. However, if you don't voluntarily leave the property, then the lender can get a sheriff to evict you from the house. After the trustee's sale you no longer own the house or have a right to occupy the house. ‒‒:‒‒
/
‒‒:‒‒
Replay
Skip
Ads by
Read More
References
"Nolo's Guide to California Law";