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Time To Foreclose In Folsom; How Long Till The Bank Forecloses?

By
Real Estate Agent with Keller Williams Folsom CA BRE/DRE 01319540 BRE#01319540

 

Information above is from foreclosureradar.com and shows the time to foreclose in Folsom from month to month

 

Folsom Short Sale Specialist and Foreclosure Option Expert Forth Hoyt Reports on the variations in Foreclosure Time Lines in Folsom.

 

As a Folsom Certified Short Sale Specialist and agent who specializes in Folsom short sales, I get questions all the time about "how long is it taking for banks to foreclose in Folsom"?


Well,the answer is; it depends on when you ask...

 

The chart above shows three lines;

 

-The Time To Foreclose; The average number of days between the filing of the Notice of Default and the final Foreclosure auction in Sacramento County that occurred during the specified month- tons of variances, from a low of 195 days to a high of 314 days...

 

-Time to Resell; these two graphs chart the average number of days between the final sale at auction and when the property was resold by the bank or 3rd party-

 

-This graph helps to illustrate one of the most significant benefits of doing a short sale in Folsom- the time it takes to get a bad home loan situation behind you through the foreclosure process has been as high as 314days!! And that's AFTER the foreclosure process has begun! Take into consideration tht the bank cannot legally file the foreclosure proceedings until after the homeowner is at least 60 days behind...

 

That means that the homeowner can go way over 1 year without making a payment,eighteen months of credit hits... at least 15 months of negative reporting on the homeowners credit report! Can you imagine the effect on their credit score?

 

Our average time to do a short sale in Folsom is three to six months on average, sometimes much, much faster. We closed our fastest short sale in just 58 days. That's less than two months, from the time we took the listing to the time the sale recorded.

 

It is possible to do a short sale and the credit reporting agencies are alerted to the sale without ever having a late  payment recorded!

 

That's 1/3 to 1/2 the time of the Average Foreclosure Time In Folsom!

 

Want to know about your articular bank? More questions on your particular situation?

 

Can you qualify for a short sale? Do you have a hardship for a short sale? Can you qualify for government short sale programs?

 

CHECK ELIGIBILITY NOW

What about short sale relocation assistance? Get these questions answered here at Forth Hoyt's Sacramento Short Sale Center. Take action, find out more about your options and learn if you are eligible. If your situation is urgent, or you have further questions, feel free to Contact us Today At Forth Hoyt’s Sacramento Short Sale Center

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