In this case, the process is handled by the court system. The homeowner will receive a civil lawsuit and a notice of pendency is performed. A notice of pendency makes it impossible for the property to be sold or for someone to get a mortgage on it. The lender will then make a decision on whether the house will go into foreclosure and the court can either agree or disagree. This process can take between four and eight months.
With a non-judicial foreclosure, a deed of trust is given to a third party. They will hold the deed as security until the mortgage can be brought up to date. At this point, the process of foreclosure can begin. In this case, a Notice of Default is given to the homeowner and they are given a certain amount of time before they have to repay the debt. This process can take up to a year to complete.