If you’ve gotten a Foreclosure Notice of Default in Sacramento CA and want to know how to deal with it, keep reading.
A foreclosure notice of default is the document that has to be filed by a lender in order to start the process of foreclosure. It doesn’t matter where you live in California, the rules are all the same.
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).
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 for someone going through foreclosure, it’s actually a very important protection for consumers.
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 around Lodi.
The notice of default is a very important step within the foreclosure process that gives people with an interest in the property 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 action.
Here are a few key steps you should take when you receive a Notice of Default:
1) Stay calm and don’t panic.
This may sound obvious, but it’s probably the most important step in resolving the situation to your benefit. Anyone in foreclosure is dealing with a lot of stress beyond just the property. These situations don’t happen overnight, and the solutions themselves can and do take a while to solve. 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 calm.
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. Know that a Foreclosure Notice of Default in Sacramento, is the beginning of a predictable process.
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 very complicated with lots of rules.
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.
The banks involved don’t want your property. They want money, and what you say matters a lot. You can slow down or stop the foreclosure process if you take the appropriate action.
Want to know more?
We buy houses in Sacramento, CA and its surrounding areas in Lodi, Woodbridge, Acampo, Lockeford, Linden, Ripon, Manteca, Modesto, Ceres, Tracy, Galt and Sacramento CA. If you need to sell your house fast in [market], call us… we’d love to make you a fair no-obligation no-hassle offer. Take it or leave it. You’ve got nothing to lose, but we’d love to earn your business. 🙂