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Clovis Foreclosure Timeline
January 17th, 2010
Clovis Foreclosure Timeline
Facing Foreclosure?
If you’re a Clovis homeowner facing foreclosure, the following is a brief overview of the Clovis foreclosure process. Depending on the timing of the various notices you’ve received, it usually takes a minimum of 120 days to effectuate what’s called a non-judicial foreclosure (explained below).
Clovis foreclosures begin when a Clovis homeowner (known as the Trustor) doesn’t make a monthly payment to the bank (Beneficiary). The first missed mortgage payment is technically a default, but most banks don’t begin the foreclosure process until the third missed payment. If the bank can’t resolve the defaulted amount(s) with the Clovis homeowner, the bank will begin foreclosure proceedings.
Clovis Foreclosure Time-line
Day 1
Bank Records Notice of Default
Within 10 business days
Bank Mails and Publishes Notice of Default
After 3 months
Bank Sets Sale date
25 days before sale date
Notice of sale to I.R.S. (when necessary)
Within 10 days from 1st publication
Request for property directions
14 days before sale date
Records Notice of Sale
5 business days before sale date
Expiration of right to re-instate the loan
Sale date
Property is sold to highest bidder at public auction
*The time-line above applies to non-judicial California Foreclosures under a Deed of Trust. The non-judicial foreclosure process allows a lender to advertise and sell the property at a public auction, without court involvement.
Free Short Sale Help
If you are in a situation where:
· You lost your job
· Your Medical Expenses are too high
· Just went through/going through a divorce
· You are behind on your payments
· You have no equity or upside down in your mortgage
· Your income has been reduced
· You are in foreclosure
WE CAN HELP. We offer short sale services to Clovis homeowners who’s debt exceeds the value of their home. Click here to read more about the 3-Step Clovis Short Sale process.
Benefits of a Clovis Short Sale:
· Avoid Foreclosure
· Avoid Bankruptcy
· Reduced damage to your credit
· Get on with your life
We are licensed Clovis Realtors who specializes in helping Clovis homeowners avoid foreclosure. We will assist you in selling your home quickly and lift much of the financial burden off your shoulders. Best of all, our services do not cost you any money so you won’t have any out-of-pocket expense!
Give us a call at (559) 325-4545 for a confidential consultation or just fill out the form below.
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