A California borrower only has a right of redemption if the property is foreclosed through the court system in a judicial foreclosure. The redemption period is set by the court and is no longer than one year. However, most California foreclosures are non judicial foreclosures and borrowers have no right of redemption in non judicial California foreclosures.
California homeowners usually have one year, or 365 days, to redeem their property after it is foreclosed on. At that time, the original owner will need to make payment in full of the sum of the unpaid loan plus costs one (1) year after foreclosure sale unless the original lender made a full price bid then that period is shortened to three (3) months.
Simon Campbell - http://www.bankforeclosuressale.com