If you’ve gotten a foreclosure notice of default in Stockton and want to know what the heck is going on, keep reading.
If just got a foreclosure notice of default in Stockton, then it’s really important that you figure out what it is and how you should deal with it. You received the document because it was filed by your lender to begin foreclosing your home. Why? To notify anyone with 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) that they should step forward and claim their rights.
The foreclosure notice of default is legally required to be published in a newspaper and posted in a prominent place on the property itself to ensure. They may seem humiliating, but it’s done to protect your interests. Before this type of public notice was required by law, banks could foreclose on people without due process or warning. If you’ve received a notice of default in CA, don’t wait to respond. You need to take action.
Not sure where to start? Here are a few places to start:
1) Calm Down
We understand — foreclosure is scary. After all, your home and credit are on the line, and if you have a family, you’re bound to wonder how you’ll keep a roof over their head. This can cause a lot amount of stress and embarrassment, but it’s important to keep your cool. You can’t fix this overnight, so take a breath, take care of your family, and take care of yourself. Take this step-by-step with a clear head to make sure you’re always making the best move.
2) Learn about the Process
It’s important to educate yourself on what the foreclosure process entails, that way nothing surprises you (anymore than it already has). Make sure you always know what’s coming next and how you can optimally respond to it. If you need to get in touch with a professional, do it. It’s in you and your family’s best interest.
3) Get Support; Know Your Resources
There are a bunch of non-profits and government resources that you can use to help you figure this out. It’s important to get good tax advice along the way instead of trying to do it yourself after a bit of online research. This process can get very complicated, so it’s best to use a professional to ensure an optimal outcome.
4) Know Your Options
You don’t need to go through with a foreclosure. Here at MCB Homes Inc., we’ll buy your home in as-is condition for a fast, fair offer. We can help you with short sales and even rent—back situations so you can keep living in your home or ease the financial burden you’re going through.
5) Talk to Your Bank
Keep in mind that the banks involved don’t want your property back, they just want the money. How you speak to them can slow down or stop foreclosure from continuing, so keep a line of communication open with them and make sure you’re taking the right actions.
Want to know more about your foreclosure notice of default options? Call us anytime (209) 743-0602 or fill out the form and we’ll lay out all of your options for your specific situation.