Foreclosure Update for Santa Clarita, Castiac, Valencia, Newhall, Canyon Country, Stevenson Ranch, and Saugus California.

 

Foreclosure Update for Santa Clarita and Surrounding areas.

 

There were a total of 226 homes that went into foreclosure in the Santa and Clarita and the surrounding areas in the month of December 2009. The homes that were included in my survey were Castaic homes, Valencia homes, Newhall homes, Stevenson Ranch homes, Saugus homes, and Canyon Country homes. This brings the grand total to 988homes that are in foreclosure in Santa Clarita, California. Many of these homes will be for sale soon. If you would like a list of these foreclosures before they hit the mls please email us. These homes had notice of defaults filed against them this is the very first step in the foreclosures process.

What is a notice of Default?

 

            In California, lenders typically do not file a Notice of Default until the borrower is at least 60 days behind in making payments. After the NOD has been filed lenders must then wait 90 days before filling a notice of trust deed sale. During that 90-day period, the borrower has the right to make up the back payments and reinstate the loan. After 90 days, the lender is required to publish a notice in the newspaper for 20 days and then may sell the property to the highest acceptable bidder on the courthouse steps. If no acceptable bid is received, the trustee then conveys the property to the lender.

If have a notice of default filed against your home please call me. You have rights and you need to know about them. We can stop the bank from taking your home!

By: scottreiber | In: Santa Clarita Real Estate | Comments: 0 | On: 01/07/2010 21:20:55

Comments

There have been no comments made on this article. Why not be the first and add your own comment using the form below.

Leave a comment

Please complete the form below to submit a comment on this article. A valid email address is required to submit a comment though it will not be displayed on the site.

HTML has been disabled but if you wish to add any hyperlinks or text formatting you can use any of the following codes: [B]bold text[/B], [I]italic text[/I], [U]underlined text[/U], [S]strike through text[/S], [URL]http://www.yourlink.com[/URL], [URL=http//www.yourlink.com]your text[/URL]