Need help to understand the foreclosure process?
When you are looking to get help to stop foreclosure
a good way to begin is by learning about the process.
The foreclosure process contains 3 stages:
Pre-foreclosure, Foreclosure Sale, and Bank Owned Properties
There are three stages during which the homeowner has an opportunity to bring the loan current or sell the property by means of a "short pay" to avoid foreclosure.
After about two to four months of missed payments, the lender orders a trustee to record a Notice of Default (NOD) which is a complaint file with the state. This puts the borrower on notice that he or she is facing foreclosure and starts a reinstatement period that typically runs until five days before the home is auctioned off.
If the default isn't corrected (the loan must be brought current) within three months, a foreclosure sale date is established. The homeowner will receive a Notice of Sale, and this notice will also be posted on the property. In addition, the Notice of Sale is recorded at the County Recorder’s Office in the county where the property is located. Finally, this Notice of Sale is also published in newspapers local to the county in question over a three-week period.
The foreclosure Trustee Sale typically occurs on the steps of the county courthouse in which the property is located. The time and location of this sale are designated in the Notice of Sale. At the Trustee Sale, the property is auctioned in public to the highest bidder, who must pay the high bid price in cash, typically with a deposit up front and the balance within 24 hours. They will then receive the trustee’s deed to the property.
PLEASE NOTE:
Our short sale services are completely free to all home owners
Lender pays commissions
Our attorneys negotiate to get you fully forgiven of your debt, regardless of what you owe on your home
You do not have to be in Default or foreclosure to work a short sale
We are team of state licensed and regulated real estate agents, who work with a team of attorneys that are here to serve your best intersts.
It is usally in your lenders best interests to accept a lower amount than you owe, as foreclosure proceedings cost an average of $58,000 for a lender.
If you are in financial hardship and NEED get your home sold, we would like to discuss your circumstances with you to see if you qualify for one.
Get rid of the stress and worry by contacting us NOW!
888-877-9824
Contact us today for a free, confidential,
no obligation consultation!
NEWS BREAK:
April 2011 Lenders Ordered To Reimburse Homeowners For Foreclosure
Who were they?
The lenders and service providers cited by the agencies are as follow:
Ally Financial Inc., Aurora Bank, Bank of America, Citibank, Citigroup Inc.,
EverBank, HSBC, JP Morgan Chase, MetLife Bank, OneWest Bank, PNC, Sovereign
Bank, SunTrust Banks, U.S. Bank and Wells Fargo, and the service providers
LenderProcessing Services and MERSCORP.
WHY YOU NEED A PROFESSIONAL
YOU NEED A STRONG TEAM TO FIGHT THE BANK!