Foreclosure in California>Question Details

Diane Wheatl…, Real Estate Pro in Rancho Cucamonga, CA

How long can a home remain in pre-foreclosure before the lender sells it at auction?

Asked by Diane Wheatley, Broker, Rancho Cucamonga, CA Fri Sep 3, 2010

Is there a statute of limitations or can it simply go on indefinately depending upon the the lender and/or borrower?

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Thank you all for your information. I agree with everything you have said and understand. A few years ago I could have sworn that I read that the trustee needed to refile the notice of default and notice of trustee sale a second time after it had been over a certain period of time. Since then I have not found anything supporting this idea. It just seems like with the substitution of trustee notices and assignment of a newly appointed servicing companies, etc. that occur over time the docs would need to be updated or refiled to clarify the parties to the action.

What is the record for the longest time a borrower has gone without making a mortgage payment before foreclosure?
0 votes Thank Flag Link Sun Sep 5, 2010
It depends on the bank! There can be other issues , but if the bank does not process the foreclosure then it does not get foreclosed on. What can cause these delays: a processor codes the loan wrong and puts a foreclosure on hold, a modification is being considered, title issues or some other legal problem or the bank makes a business decision not to foreclosure.

Keith Manson
First Weber Group
Certified Distressed Property Expert
Metro Milwaukee
0 votes Thank Flag Link Sun Sep 5, 2010
That depends on the bank and the court some courts are so backed up getting foreclosure sale dates are 6 months out.
I do not know of any statute of limitations and I have had clients that were in pre-foreclosure for 4 years.

Bob Patrick
Buy a home after foreclosure, short sale deed-in-lieu-of expert
0 votes Thank Flag Link Sat Sep 4, 2010
Diane pre-foreclosure is a term that includes alot of different procedures all leading up to foreclosure. Pre foreclosure is the time they get 2 months late and receive a demand to bring the loan current, form there each bank has a different policy and procedure that determines how quickly they work and what the laws are in that state that affect foreclosure. Normally it can be 3-6 months. Some have taken upwards to a year while other were lightening fast at only 3-4 months.

A home owner can delay or avoid foreclosure by simply calling your bank, asking for the home retention department and ask about a forebearance or loan modification.

Please see my blog on "Avoiding Foreclosure"
0 votes Thank Flag Link Sat Sep 4, 2010
After NOD is filed, usually 90 to 120 days is the foreclosure. Just keeping call the lender and they will have a sale date set. Unless like the other agent said you are working on a mod, they will probably set a sale date, then keep postponing it.
0 votes Thank Flag Link Fri Sep 3, 2010
Hi Diane,

This depends on a few things:

1) is the owner working on a modificaiton?
2) Has the owner recently filed bankruptcy to stop the sale and there is now a Stay issued.

Lenders typically do not want to foreclose. If the owner has submitted all paperwork necessary for a modifciation the lender will "Suspend" the sale date but will not formally cancel it.

Depending on the scenario and lender sometimes I can get a modificaiton completed in two months sometimes longer. I have worked on modifications for up to 8 months and the lender continues to suspend the sale.

JoAnna Jensen
Legal Assistant
Volo Law Group
0 votes Thank Flag Link Fri Sep 3, 2010
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