If you’ve gotten a foreclosure notice of default and want to know what the heck is going on, keep reading.
Basically, a foreclosure notice of default is a document that has to be filed by a lender to start the process of foreclosure.
The foreclosure notice of default must be sent to anyone who has an interest in the property (any other loans, lenders, or even contractors who are owed money for work done to a property will get a copy). Please don’t despair. continue to read as you need to know this.
The foreclosure notice of default must also be published in a newspaper and physically posted in a prominent place on the property itself.
Although this can be really embarrassing to someone going through foreclosure, it’s actually a very important protection for consumers this includes you. the notice lets you know that the situation is serious and needs to be addressed quickly. We are here to help contact us today.
Back before US law required a notice of default, people were sometimes foreclosed on without any warning.
In fact, it’s happened even in the past few years – at least one bank has accidentally foreclosed on the wrong property and kicked people out of their house without due process or warning. It’s even happened in Oregon. Lets make sure this doesn’t happen to you.
The notice of default is a very important step within the foreclosure process that gives people with an interest in the property (this includes you) to step forward and claim their rights – before it’s too late.
If you’ve received a notice of default, don’t wait. Time is definitely of the essence, and you should take immediate action.
Please don’t hesitate to act. the sooner you act the better the end results will be. We’re waiting on your call.
Here are a few key steps you should take:
1) Stay calm and don’t panic.
This may sound obvious, but it’s probably the most important. Anyone in foreclosure is dealing with a lot of stress beyond just the property. These situations don’t happen overnight, and they take a while to solve them correctly and in your best interest. You’ll get through it by practicing good coping techniques and taking good care of yourself and your family. Panic leads to bad decisions, so stay cool and enlist some professional help. Make a call to us, so we can help.
2) Educate yourself.
Learn everything you can about the foreclosure process in your state so that you know what’s happening and what’s coming up next. Most important is to familiarize yourself with the steps of the process of foreclosure.
3) Gather your resources.
There’s also many non-profit and government resources available out there. You’ll want good legal and tax advice along the way. Definitely don’t try to do it all yourself. This stuff is can be super complicated with lots of rules and exceptions. contact us and we’ll point you in the right direction.
4) Learn your options.
We’re here to help you avoid foreclosure. We buy houses with cash. We can help you with short sales and even rent-back situations so you (potentially) may be able to keep living in your home. There are many more options than you think. We are part of a nationwide network that we can draw upon to help you resolve this situation.
5) Communicate.
The banks involved don’t want your property. They only want money, and what you say matters a lot. You can slow down or stop the foreclosure process if you take the appropriate action. let us help you navigate the interaction with your bank.
Want to know more?