The 5 Phases of a Foreclosure

By
Managing Real Estate Broker with Maxus Realty Group of Samson Properties Broker - Realtor - CEO

Maxus Realty Group Agents are local specialists with knowledge to help you buy and sell the right home, at the right price.

We are passionate about you as a client, we will always protect your best interests just because it's the only way we do business day in and day out.

Today, we'll talk about The 5 Phases of a Foreclosure

 

First, we have to define what exactly is a foreclosure? 

A foreclosure is a process that mortgage lenders use to take possession of a property after the borrower defaults on his/her mortgage.

 

If you are having difficulty paying for your mortgage, you must act before the proceedings of a foreclosure begins...

Most major lenders have designed programs to allow a borrower catch up with their payments to avoid a foreclosure

 

In most cases, 

Banks do not want to foreclose on your property. They want to avoid this process and will offer options that may help you avoid a foreclosure all together.

You must act by calling them, communicating your distress and the reason of your defaulted mortgage payments. 

 

 

READ MORE: https://www.maxusrealtygroup.com/blog/1344/The+5+Phases+Of+A+Foreclosure

 
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Comments (2)

John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Hello Fernando Herboso - Broker for Maxus Realty Group very good report about phases of a foreclosure.

Oct 21, 2021 02:26 PM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Fernando Herboso - Broker for Maxus Realty Group - with these rising real estate values there is little reason to end up in forclosure if you act quickly to get your house sold.

Oct 22, 2021 03:49 AM