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What Homeowners in Orange County Can Expect During the Foreclosure Process

If you’re concerned about your property going into foreclosure due to circumstances beyond your control, the optimum scenario would be to work with your lender for a resolution before things go any further. However, going through the foreclosure process can be made easier when homeowners understand what lies ahead, so read on as we explore what homeowners in Orange County can expect during the foreclosure process. 

Default

Lenders understand that homeowners in Orange County may go through temporary financial hardships, often having a grace period for these situations. However, suppose you’ve fallen behind and don’t see any options on the horizon. In that case, you can expect the lender to contact you in every way possible during the foreclosure process, attempting to work out a payment arrangement to avoid further action. 

Notice of Default

Lenders will issue a notice of default to homeowners in Orange County, which gives you 90 days during the foreclosure process to pay the bill. 

Mortgage Reinstatement

Homeowners in Orange County who have entered the foreclosure process but can catch up with past due payments, including interest and any penalties, can stop the process at this point by working with the lender to reinstate the mortgage, then continue paying their mortgage as usual.

Notice of Sale

Once 90 days have passed after the notice of default, the next step homeowners in Orange County can expect during the foreclosure process is the notice of sale; within 21 days, the property will be put up for auction by the trustee (the lender).

Auction

During the foreclosure process, the final step for homeowners in Orange County is the auction, where the winning bidder must pay for the property immediately. Should the home not sell at auction, it will become what is known as an REO or real estate owned property, converting back to the lender. If you’ve yet to vacate the premises, you can expect the buyer to serve an eviction. With an REO, the lender may attempt to assist you with moving, offering cash for keys to attain possession. 

Another Option

For homeowners in Orange County facing foreclosure, there’s another option: a direct sale to local professional buyers like those at H&M Realty Group. First, the professional buyers at H&M Realty Group will detail the expenses and what you’d profit by listing your property, advising you of the average days on the Orange County real estate market. Then, professional buyers from H&M Realty Group provide you with the numbers used to make their offer to buy your home directly, which we want you to agree is fair. And we’ll provide you with a guaranteed closing date, often within days. We do this at H&M Realty Group for two reasons. First, we want you to make an educated decision about what is best for your situation. Secondly, at H&M Realty Group, we are your neighbors here in Orange County, living and working alongside you, a part of the community; we want you to feel good about the deal long after you’ve left the closing table. 

H&M Realty Group

Selling directly to H&M Realty Group can turn everything around for homeowners in Orange County facing foreclosure; our goal is to save you time and money. A direct sale means no commissions, closing costs, or hidden fees; our policy at H&M Realty Group is complete transparency and no pressure. And, to save you even more money, at H&M Realty Group, we buy houses as-is for cash in Orange County, meaning you can keep your wallet in your pocket and forget about prepping, repairs or cleaning. You can even pick the date for your closing with a direct sale to a professional buyer from H&M Realty Group, talk to us about the arrangements that would work best for you. Call H&M Realty Group at 949-625-4533.

Joe

Broker/Realtor/Investor/Mentor (41 years experience) Specialties: Buyer's Agent, Listing Agent, Foreclosure, Short-Sale, Property Management, Landlord I'm a Full Time Real Estate Professional, house flipper and mentor to many of my clients. I am here to help you get top dollar for your home or get you the best price for a home that you are going to live in. I have over 40 years of real estate experience for you to draw on and actively list and sell over 20 homes a year. I have sold over 600+ homes in the last ten years alone. I am a very skillful negotiator and will work diligently to help you realize the best possible price when buying or selling your home. With my Exclusive Home Acquisition & Sales System, I can find the Right Home for You! I have access to homes no other Realtor will show you. I can show you how to save an average of $10,000.00 on the purchase price. We will find a home that fits your needs, in a neighborhood that suits your style. If you are selling your home then I can bring all the professionals to you. I always include professional photos in ALL my listings. I have contractors standing by to assist with those upgrades if needed. I can also quickly get you ALL CASH offers for your home if you desire. My marketing surpasses all other agents. It begins with extensive internet advertising to hundreds of websites throughout the world. I do direct mail marketing for you home and also knock on doors in your neighborhood when I am holding an open house. I hold you home open to expose it to as many buyers as possible. My Exclusive program is designed to sell your home for Top Dollar in Any market. I am an experienced flipper here in Orange County and therefore can offer you my over 40 years of real estate experience. The information is available to you at no charge! If you like what you see, please call me and setup Your Free Consultation.

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