| Mortgage Judicial Foreclosure |
Trust Deed Non-Judicial Foreclosure |
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| Borrower Defaults |
Borrower Defaults |
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| File Complaint (Initiate Law Suit) |
Beneficiary authorizes Trustee to proceed with Foreclosure |
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| Record Lis Pendens |
Record Notice of Default |
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| Court Hearing Date set for Sale |
Period of Equitable Redemption Trustor can reinstate |
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| Advertise the Sale |
Advertise the Sale |
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| Sell to highest bidder Buyer pays cash at sale. |
Sell to highest bidder Buyer pays cash at sale. |
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| Buyer receives Certificate of Sale |
Trustee conveys Trustee's Deed to Buyer |
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| Period of Statutory Redemption (Right of Redemption) |
Deficiency Judgment Unlikely |
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| Sheriff's Deed Conveyed to Buyer Evict Mortgagor |
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| Possible Deficiency Judgment |
