If you have voluntarily secured one or more loans with a Deed of Trust, the lender
may foreclose on your home with the assistance of the Public Trustee. This is a
non-judicial foreclosurefter proper. After proper notice, the Public Trustee may
sell your home and apply the sale proceeds to the deed of trust and all other
junior liens on your property.
The foreclosure process changed in 2009 to allow more time before the foreclosure
sale. Now, most foreclosures take 4 to 6 months. However, some lenders are slow
to foreclose because of the poor real estate market.
The home owner can be evicted immediately after the foreclosure sale.
The sale takes place by the Public Trustee on the counthouse steps. Buyers must
have all funds to the Trustee within two hours of the sale. In many cases buyers
will not have had a chance to view the property so all sales are "as is".
As with all foreclosures, an attorney should be contacted for proper legal advice.