The following chart is a helpful comparison of the processes of Mortgage Judicial Foreclosure and Trust Deed Non-Judicial Foreclosure :) Mortgage Judicial Foreclosure Trust Deed Non-Judicial ForeclosureBorrower Defaults Borrower Defaults File Complaint (Initiate Law Suit) Beneficiary authorizes Trustee to proceed with ForeclosureRecord Lis PendensRecord Notice of DefaultCourt Hearing Date set for Sale Period of Equitable Redemption Trustor can reinstateAdvertise the Sale Advertise the SaleSell to highest bidder Buyer pays cash at sale. Sell to highest bidder Buyer pays cash at sale.Buyer receives Certificate of Sale Trustee conveys Trustee's Deed to BuyerPeriod of Statutory Redemption (Right of Redemption) Deficiency Judgment Unlikely Sheriff's Deed Conveyed to Buyer Evict Mortgagor ...
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