Southern California Home InfoWhat is Going to Happen?A Notice of Default ( N.O.D. ) has been filed on my Property. What is Going to Happen? A notice of Default is the begining of the foreclosure process. The Foreclosure Process takes 111 days here in California. You may have been mailed a notification that the foreclosure process has begun. It is not a condition of foreclosure to to delivered a notification. If you sit and wait and do nothing, as far too many do, you can simply count the days. Have posters put all over your windows, notices of Foreclosure. Have the house foreclosed upon. Embarrass your family. Bring down the housing values in the community. On or after the 111 days someone else will usually own your property. You might want to verify that the property has been transferred at the county recorders office in your property's county. If you stay in the property after you no longer own the property someone will evict you. Notice of 3day pay or quit, eviction etc. Get evicted. Have bad credit for 7 years. More than likely, never be able to buy a home again without a large down payment. Pay more for anything and everything you buy on credit as it will cost you more for 7 years due to the high interest rates. Loose security clearance. Harder to find work as credit is looked at, as a back ground check is more prominent now that computers have easy access. Difficult to move or find a new place to live for years to come. Many types of Insurance will cost you more and be hard to find. This will be a rough time for you and your family. You will more than likely feel alienated almost as much as an illegal alien. For the few who try to get out of the mees before it gets worse. Many problems can be conquered in a short time. If your home is not upside down you can list your home for sale with a local licensed Real Estate Broker - Realtor. If your home is upside down, owe more than it is worth, I suggest you go to the upside down page and review your options with a Real Estate Attorney and a CPA. There are future implications and knowing your options is a great start. As a California Licensed Real Estate Broker, I can offer to list your home for sale as a "short sale" and in part, ask the lender to accept less than what is owed on the loan. If you would like to sell or Short Sell your house Please email me at Harold@SouthernCaliforniaHome.info with Please put "Sell My House" or "Short Sell my House" in the subject line. |
SO CAL HOMES REALTY
(951) 821-8211 Harold Sharpe is the owner of Harold Sharpe is a
Licensed Harold Sharpe is a Harold Sharpe specializes in Selling Houses, and Finding homes for people. So Cal Homes Realty is the Real Estate Brokerage to assist you in Buying or Selling a House. Feel Free to call Harold at (951) 821-8211 Monday - Sunday 9am - 7pm |
