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  

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