Foreclosure Notices, Notices Of Default, Trustee Sales, Help For Homeowners

Facing Foreclosure?




Here are some honest answers for homeowners going through tough situations…

Will the bank foreclose if you don’t do anything?
Yes, they will. We have seen an increase in the number of foreclosures this year. Banks that used to delay are now moving forward with foreclosures.

What is a Trustee Sale?
A trustee sale is the event where the bank auctions your home to the highest bidder. It takes place at a public place where they attempt to sell it to a third party. If no one buys the home at the sale, the bank takes it back as a Bank Repo and they will take actions to sell the home through a real estate agent. If the home sells to an investor, they become the new owner and they will take actions to secure the home for their intended use.

What if you owe more than the home is worth?
You can attempt a short sale prior to the Trustee Sale. A Short Sale is when you ask the bank to take less than you owe in order to avoid a foreclosure. My team has been very successful in negotiation Short Sales with banks.

Where will you move to if you lose your house?
You will likely need to rent, because buying will not be an option for persons with recent foreclosures or short sales. Some people move in with families, others rent homes or apartments. We can assist in finding a replacement home.

Can you postpone the sale of your home?
Yes, under certain circumstances. There are options and I recommend you speak to an attorney. I have a trusted attorneys who have helped many of my clients postpone or cancel the sale. You should review all your options with an attorney.

Will you have to pay a Real Estate Agent to sell your home?
If the house is a Short Sale, the bank will pay the commission. If there is equity in the home, there is a commission paid by the seller at the successful close of escrow.

How fast is the sale/escrow process?
The process can take anywhere from 7 days to upwards of 6 months (or longer) for a Short Sale. The shortest escrow I closed was 4 days, the longest was 22 months.  Depending on your situation, we can close quickly if needed to avoid a foreclosure.

Will the bank give you money to move out?
Maybe. Some banks offer seller relocation assistance, others do not. I have been successful in negotiation move out money for many of my clients. After a foreclosure it is common for a seller to get “Cash For Keys”. This is where the seller gets paid by the bank or the investor (if the home sold to an investor at the foreclosure/trustee sale) when they turn over the keys to the home in “broom swept condition”. If the home is damaged or destroyed, they won’t give you the money.

Can I stay in my home after foreclosure?
It depends. Some banks are selling homes that have the sellers still in them. They notify the buyer that the seller still lives there. However, after the foreclosure sale, the homeowner no longer owns the home and has no right to stay in the property. Most owners are evicted by the new owners whether it’s a bank or investor to takes over ownership.

What if my house is in really bad condition, can I sell it?
Yes, there is a buyer for every home, regardless of the condition. If you don’t have money for repairs, or if you need to sell quickly, you can sell your home without making any repairs. Buyers will make offers in line with the condition of your home.

What is the foreclosure process in California?
NOTE – This info may have changed and your individual circumstance may vary depending on your bank and loan type. Please check with your bank for specific details about your loan.

Here is a very general chart that provides some details on the process.







I’m sure you have more questions and I’d be happy to answer them. Let’s talk sooner than later. I’d like to help.

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