The following chart shows a comparison of the processes of Mortgage Judicial Foreclosure and Trust Deed Non-Judicial Foreclosure.
| Mortgage Judicial Foreclosure | Trust Deed Non-Judicial Foreclosure |
|---|---|
 |
|
| Borrower Defaults | Borrower Defaults |
|
|
| File Complaint (Initiate Law Suit) | Beneficiary authorizes Trustee to proceed with Foreclosure |
|
|
| Record Lis Pendens | Record Notice of Default |
|
|
| Court Hearing Date set for Sale | Period of Equitable Redemption Trustor can reinstate |
|
|
| Advertise the Sale | Advertise the Sale |
|
|
| Sell 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 Buyer |
|
|
| Period of Statutory Redemption (Right of Redemption) | Deficiency Judgment Unlikely |
|
|
| Sheriff’s Deed Conveyed to Buyer Evict Mortgagor | |
|
|
| Possible Deficiency Judgment |