How to Find Out If a Property Is Near Foreclosure in California
A real estate property near foreclosure can be best described as a property in mortgage default and a Notice of Default (NOD) has been recorded in the property’s county. The NOD occurs once a mortgage loan has reached 90 days delinquent. California has laws and public notice rules governing its foreclosure process. You can find out if a property is near foreclosure through simple methods available to the public.
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Instructions
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Local newspaper
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Obtain a copy of your local or regional newspaper. Defaulted properties are posted in the classified legal section as public notices. This information is a required notification under the California foreclosure law disclosure process and is made prior to foreclosure.
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Review the legal posting and locate the date and time when the property is scheduled to be foreclosed and publicly sold. The foreclosure sale takes place on a specified date following the notification period and is stated in the publication.
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Confirm that the property is nearing foreclosure by contacting the lender or trustee who filed the notice of default recording. Check to see if the default is still active or if it's being reinstated.
County Recorder’s Office
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Visit your County Recorder’s Office and locate the department where property records are held. NOD recordings are considered public record and are made available upon request.
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Request a photocopy of the recorded liens against the address of the property that you are looking for.
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Request it by the lien date or based on a specific lien type, if you are unsure of the address.
Search online
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Visit the Foreclosure.com website (see the References section) and enter the address of the property in the “Search by address” bar at the top of the page.
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Click on the “Preforeclosures” tab located at the top of the search results page.
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Review the results that indicate if the property is near foreclosure.
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Tips & Warnings
FSBOs (for sale by owner) and abandoned properties may be a sign that a property is nearing foreclosure.
California foreclosure laws require the lender to publicly post the notice of default 20 days prior to the public sale of a property.
California law provides redemption periods that allows for reinstatement and the foreclosure to be stopped.
Realtor short sale listings often become foreclosures if not sold.
A property that is simply neglected does not necessarily mean foreclosure is certain.
References
Resources
- Photo Credit For Sale By Owner sign image by Edward Stephens from Fotolia.com
