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California Foreclousure Timeline

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    California Foreclousure Timeline

    Hello,

    Does anyone know the foreclousure timeline in California once the notice of foreclusure starts? I'm assuming the process doesn't start until the foreclousure notice? Is that correct?

    Right now I'm receiving letters from the lender trying to work something out. I'll be talking to my lenders single point of contact. Lender is willing to work something out. However I don't know the details yet.

    My history....
    Home was included in my discharged BK7 in early July
    Home is $75,000 underwater
    I stopped making payments in November 2011
    Stopped making property tax payments ($3600 behind)

    My goal....
    Right now I'm strongly considering walking away. I'd like to remain rent free as long as possible to help with my fresh start.
    Only consider staying if interest rate is reduced to 4% or lower
    Underwater balance is reduced

    Any information would be greatly appreciated!

    Thanks...

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