The Foreclosure Timeline

1. Notice of Default is recorded

   • Contact is still the owner of the property.
   • Still time to list the property and close escrow in many cases.

2. 90 Days After NOD — Sale date may be posted

   • Sale date is set; time is running out.
   • If escrow cannot close before the sale date then the lender or lender's trustee should be contacted and a postponement of the sale should be requested.
   • Usually a postponement will be granted although a copy of the contract in escrow needs to be provided to the trustee.
   • The loan may be reinstated up to five days before the sale date.

3. 21 Days after sale posting the sale may be held

   • If the property is not sold at the auction, then the bank or beneficiary foreclosing now owns the property.