Foreclosure is a process which secured lender/mortgage company commences, when property owners fails to tender regular monthly payment .
Usually, mortgage would start foreclosure process when at least two or more monthly payments are missed by the property owner. its usually started with Notice of Intend to foreclose, unless all the defaulted amount is paid within 30 days from the date such intent letter is issued by lender.
if owner fails to cure the defaulted payments within alloted time, lender would commence the foreclosure process by issuing , recording and service, Notice of Default . Borrower has 90 days from date of the Notice of Default to cure the default, before a Notice of Trustee's sale is published and served. Notice of Trustee's sale is usually gives 21 days notice prior to auction sale. Borrower , in CA, has 5 days prior to sale to pay the defaulted amount and reinstate the loan. if borrower fails to reinstate the loan, Lender may proceed with the trustee sale, at the date, time and location. Lender may continue the trustee's sale notice, either upon the request of borrower or due to its own reason.