Your Short Sale and Foreclosure Prevention
Specialists When results matter, the right team makes the
difference!
Did you know that by law, your lender is required to contact you 30
days prior to filing a Notice of Default? Do you know your rights as a homeowner
if you are facing foreclosure? Did you know that it
COSTS YOU NOTHING to avoid foreclosure?
Understand, that if we decide to do a short sale, your bank pays all the fees
normally paid by the seller, such as the real estate commissions, escrow fees,
and title fees to name a few.
411NOD.com is the portal to a wealth of information designed to inform you on
how you, or someone you know, can prevent the foreclosure process.
Are you facing foreclosure? Have you received a Notice of Default from your lender? Before you do anything else, contact one of our Short Sale Specialists who will provide you valuable information
AT NO COST TO YOU that can help you avoid foreclosure.
Serving the greater Los Angeles area, we are committed to stopping your
home's foreclosure. If you have been
served a Notice of Default, we can stop the bank from selling your
home.
Access our exclusive Foreclosure
Prevention Center
The Truth About Short Sales
In light of the change in the residential real estate market in the past few years, many homeowners have found themselves overwhelmed with trying to fight off foreclosure from their lender and mortgage company.
What do I do if I'm Behind on My Mortgage Payments?
It's very rare that anyone actually plans to fall behind on their mortgage. Home buyers typically purchase homes that are priced within their means to make their mortgage payments every month on time.
What is a Notice of Default?
A notice of default is a notification given to a borrower stating that he or she has not made their payments by the predetermined deadline. It dictates that if the money owed (plus an additional legal fee) is not paid in a given time, the lender may choose to foreclose the borrower's property.
Can I Sell My Home if I Owe More Than it is Worth?
Depending upon your financial circumstances, there are certain situations where you can sell your home if you owe more than it is worth. In a short sale, your lender will pay all of the fees normally paid by the seller in a standard real estate transaction.
California Foreclosure Laws
California is known as a title theory state where the property title remains in trust until payment in full occurs for the underlying loan. The document that secures the title is usually called a deed of trust but may also be referred to as a mortgage.
What Happens in a Foreclosure?
For many homeowners, the word "foreclosure" is very foreboding. It basically means that they will be forced to move out of their home, and it is without a doubt that anyone would purchase a house with the intent of losing it due to their inability to pay their mortgage.
Ways to Avoid Foreclosure
While many options are still available to you in avoiding foreclosure, you might take this opportunity to seek professional counsel with regard to your choices. An experienced, licensed attorney who specializes in real estate law is an excellent source to help you avoid foreclosure.
Foreclosure Scams and How to Avoid Them
A few years ago, hardly anyone could have imagined that the phrase 'home mortgage loss mitigation' would become such a part of our lexicon. Loss mitigation has become a growth industry due to economic events we have experienced in the past few years. That being said, the number of businesses engaging in unethical, unscrupulous and downright illegal activities has also skyrocketed.
Commonly Asked Questions About Short Sales
Q: Which is better, a foreclosure or a short sale?
Both affect your credit scores, but a short sale quite often has less of an impact.
Discrepancies in Your Loan? Try a Qualified Written Request
If you feel you have legitimate discrepancies in your loan documentation that is affecting your mortgage payment, you may submit a Qualified Written Request to your lender as is your right under Section 6 of the Real Estate Settlement and Provisions Act
(RESPA).
Frequently Asked Questions from IRS.gov
What is the Mortgage Forgiveness Debt Relief Act of 2007?
The Mortgage Forgiveness Debt Relief Act of 2007 was enacted on December 20, 2007. Generally, the Act allows exclusion of income realized as a result of modification of the terms of the mortgage (i.e., sort sale), or foreclosure of your principal residence.
Information on SB 1137-The Perata Mortgage Relief Bill
Prior to filing a notice of default, lenders must contact borrowers to set up a meeting where the lenders and consumers will discuss potential ways to avoid foreclosure.
Applies to loans made between January 1, 2003 and December 31, 2007, when most of the loans that are causing the problems we face today were made.
Patrick Lopez and Associates are licensed California real estate agents
providing general real estate services to home buyers and home sellers. We are
also Certified Distressed Property Experts and Certified Pre-Foreclosure
Specialists whose expertise in foreclosure prevention and short sales have saved
many homeowners from foreclosure. We serve the greater Los Angeles and Los
Angeles County areas including (but not limited to):
Santa Clarita, Valencia, Newhall, Canyon Country, Stevenson Ranch, Castaic,
Saugus, Agua Dulce, Acton, Palmdale, Lancaster, San Fernando, Northridge,
Chatsworth, Porter Ranch, Glendale, North Hollywood, Granada Hills, West Hills,
Encino, Sherman Oaks, Burbank, Canoga Park, Reseda, Woodland Hills, Calabasas,
Agoura, Simi Valley, Thousand Oaks, Ventura, Oxnard, and surrounding areas.
Default? Do you know your rights as a homeowner
if you are facing foreclosure? Did you know that it
COSTS YOU NOTHING to avoid foreclosure?