FORECLOSURE  ASSISTANCE

New Foreclosure Timeline:

**  Notice of Election and Demand Filed by Lender's Attorneys.  Notice is sent to the owner.

 

**  Owner Cure Period (Owner has 110-125 Days to redeem Residential Property)  No Owner Redemption After Sale

 

**  Sale   The Certificate of Purchase is Issued to the Highest Bidder at Auction  (Typically the Lender)

** 8  Days--Lender has the Option to Rescind the Sale

 

**  REDEMPTION for Additional Lien Holders Only

First Lien Holder has 5 Days

Next Lient Holder has 5 Days

Next Lien Holder has 5 Days

Etc.

 

**  Finally, the Public Trustee's Deed is Issued to the Final Redeemer

 

A short sale may help prevent some of the pitfalls of a foreclosure.  Click here for more information.