What is the procedure for extrajudicial foreclosure of a deed of trust?

California real property law provides an efficient process for extra-judicial foreclosure of a deed of trust⁴, which takes approximately four months from start to finish. California Civil Code 2924 2924k (West 1993 & Supp.1995). This statute provides a comprehensive framework for the regulation of nonjudicial foreclosure sales. It has three purposes: (1) to provide the creditor/beneficiary with a quick, inexpensive remedy against a defaulting debtor/trustor; (2) to protect the debtor/trustor from wrongful loss of the property; and (3) to ensure that a properly conducted foreclosure sale is final between the parties and conclusive as to a bona fide purchaser. Moeller v. Lien, 25 Cal.App.4th 822, 30 Cal.Rptr.2d 777, 782 (1994). Moeller summarizes the statutory procedure as follows:

Moeller, 30 Cal.Rptr.2d at 782 (citations omitted). The foreclosing creditor must follow exactly the very detailed procedures: failure to do so results in an invalid foreclosure (subject to the exception stated in 2924, and described below). See, e.g., Miller v. Cote, 127 Cal.App.3d 888, 179 Cal.Rptr. 753, 757 (1982).