This guide has basic information about. If you stop making payments on your mortgage, your lender can take possession of your home, in a process known as foreclosure. Forms.The lender must provide the borrower with a copy within 10 business days. Under Judicial Foreclosure: Your mortgage lender must file suit in the court system. You'll get a letter from the court demanding payment. In this article, we'll delve into the specifics of foreclosures from comprehending how it works to learning your privileges as a homeowner. In California, lenders can foreclose on deeds of trust using a non-judicial foreclosure process or a judicial foreclosure process. Once the notice of sale has been recorded, the property owner has until 5 days prior to the published sale date to bring the loan current. Our office has over a decade of experience litigation regarding wrongful foreclosure and other mortgage loan lender and servicer misconduct cases. Like a mortgage, a trust deed makes a piece of real property security (collateral) for a loan.