Foreclosure 101 Guide Table of Contents

Why Foreclosure Happens 

Negative Equity
Five D's of Foreclosure
What About Subprime?

Types of Foreclosure 

Judicial Foreclosure
Non-Judicial Foreclosure
Important Notes
Summary of Key Differences by State

Non-Judicial Foreclosure Process

Prerequisite: Deed of Trust with Power of Sale
The Notice of Default
The Notice of Trustee Sale
The Trustee Sale Auction

• Reasons for postponement

The Trustee's Deed

Foreclosure Laws

Equity Purchaser Laws
Foreclosure Consultant Laws
Rent Skimming
Preforeclosure
Auction
Bank Owned

Arizona Foreclosure Process and Laws

Notice of Trustee Sale
Auction
Trustee's Deed

California Foreclosure Process & Laws

Judicial Foreclosure
Non-Judicial Foreclosure
Notice of Default
Notice of Trustee Sale
Auction
Trustee's Deed
Other Notable California Foreclosure Laws

Nevada Foreclosure Process & Laws

Notice of Default
Notice of Trustee Sale
Auction
Trustee's Deed

Oregon Foreclosure Process & Laws

Notice of Default
Notice of Trustee Sale
Auction
Trustee's Deed

Buying Foreclosures

Overview
Choose a Stage of Foreclosure

•  Preforclosure

• Auction

• Bank Owned or REO

Find Foreclosures
Determine your offer or bid
Make your offer or place your bid
Close your deal

Opportunities for Realtors

Short Sales
REO Brokerage
Representing Buyers
Foreclosure Comps

Effects of Foreclosure on Homeowners and Renters

Credit Impact
Deficiency Judgements
One-Action Rule
Purchase Money Rule
Eviction
Cash for Keys
Income Tax
Bankruptcy
Lease or Rental Agreements

Stopping Foreclosures

Bring the loan current
Sell the property
Refinance the property
Work with the lender
Sue the lender
Bankruptcy
Additional Resources