Legal Question in Real Estate Law in California

Well, first verify that failure to make the payment is a default, and one that allows foreclosure, and whether there is a grace period Then decide whether foreclosure is likely to be advantageous. Depending on a number of factors including the buyer's willingness and ability to work something out and the likely financial results of a foreclosure, it may be better to negotiate than willy-nilly to pull the plug. If you are not fully up to speed on the borrower's intentions and its financial capacity, then some research and some face-to-face discussions may give you a better idea as to whether to foreclose or do some kind of work-out.