Although most lenders have discontinued foreclosure proceedings during the Christmas holiday, there are currently many Fairfield foreclosure homes already on the market. Homeowners who have fallen behind on their mortgage payments are continuing to receive Notices Of Default (NOD) from their mortgage lender.
An NOD is a formal notice that a home owner has fallen behind on their payments and are in default of their mortgage contract. It does not mean that the lender is foreclosing on the property at that time, but it is notice that the lender may foreclose on the property if the borrower doesn’t catch up on mortgage payments within the period indicated in the NOD.
Here is a summary of Fairfield-area homes that have received an NOD as of December 21, 2011.
|
Zip Code |
Properties Valued < $1,000,000 |
Properties Valued >$1,000,000 |
|
94534 |
539 |
1 |
|
94533 |
539 |
1 |
|
94585 |
540 |
0 |
|
95687 |
218 |
1 |
|
95688 |
115 |
1 |
(Source: RealtyTrac®)
Why should home buyers and investors be interested in homes that have received a Notice Of Default? Owners who have received an NOD are often highly motivated to sell their home before going into foreclosure and having their credit damaged any further. While many will continue to explore alternatives that will allow them to keep their home and not go into foreclosure, many are open to receiving purchase offers, even if they have not listed the property for sale with a broker. We can help you make that offer, just call or send an email (john@jsrealproperty.com).
For more information about Fairfield homes for sale, visit my web site and click on:
ü Wine Country MLS Search to search for properties listed for sale in Solano, Napa, Sonoma, Marin, and Mendocino Counties.
ü RealtyTrac®Distressed Property Searchto find pre-foreclosure, auction, bank-owned and other distressed properties anywhere in California.
ü For the latest local, regional and national market information, check out our 1 Minute Housing Market Report when you visit www.jsrealproperty.com .
Questions? Drop John a line at john@jsrealproperty.com .
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Tags: Fairfield foreclosure homes for sale, Cordelia foreclosure homes for sale, Green Valley foreclosure homes for sale, Wine Country foreclosure homes for sale, Fairfield real estate agents
John A. Souerbry & Associates DRE 01370983 Tel (650) 815-6182/(925) 323-1450
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