Foreclosure proceedings start with a Notice of Default (NOD). 

The lender (or trustee for the lender) files a NOD with the county recorder after the borrower (trustor) “defaults” on the loan by failing to make his/her loan payment.  The borrower must be delinquent for 15 days or more to cause a default.

After the Notice of Default is filed, the borrower has three calendar months to “reinstate” their account, or bring it current, with the lender.  This timeframe is referred to as the Reinstatement period.

If the borrower does not reinstate their loan, the lender will instruct the Trustee to record the Notice of Trustee Sale.  This must be done at least 20 days before the foreclosure is brought to sale.

The borrower’s right to reinstate the loan expires 5 days prior to the sale.

The foreclosure sale must take place at a public location at least 20 days after the Notice of Trustee Sale has been recorded.

Sales may be postponed by announcement at the time and location specified for the intended sale.  Beginning January 1, 2013, if the Trustee Sale is postponed more than 10 business days, the lender must give the borrower notice of the new sale date and time.