Clovis Foreclosures

Clovis Home Values

Clovis Home Info.

Search by Clovis School

Clovis Foreclosures Category

January 17th, 2010

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.

Read the rest of this entry »

Posted by Clovis Real Estate | ClovisExperts.com / Please leave a comment.

January 16th, 2010

Foreclosure Process for Clovis Homes

Overview of the Clovis Foreclosure Process

Clovis foreclosure realtor, clovis shortsale realtor, clovis short sale realtor

If you’re struggling to make your mortgage payments on your Clovis home, you’re not alone. One of the most important things you can do is understand the foreclosure process in Clovis. Here’s a brief overview of the foreclosure process for Clovis homes to help you do just that:

When you bought your Clovis home it probably involved a “deed of trust,” which by its legal definition involves 3 parties:

Trustor (Clovis homeowner / borrower),
Beneficiary (lender / bank), and
Trustee (a neutral 3rd party receiving the right to foreclose).

The deed of trust usually includes a “power of sale” clause that gives the neutral 3rd party the legal right to enforce collection of the debt. Collection of the debt is ultimately enforced by lender / bank’s right to sell the Clovis home when the Clovis homeowner / borrower fails to make their mortgage payments.

Defaulting on one’s loan causes the start of “foreclosure”, the process by which the lender / bank takes over a Clovis home in order to recover their principal investment (remember, your Clovis home is still the bank’s until you pay it off fully). Once the Clovis home is either sold at auction or “repossessed” by the lender / bank, the former Clovis home owner must vacate at the discretion of the new owner.

When there is a power of sale clause in the deed of trust the non-judicial process of foreclosure is used. In a non-judicial foreclosure, the neutral 3rd party (trustee) must meet a few requirements before it sells the Clovis home. In comparison to a Judicial foreclosure, Non-judicial foreclosures are quick (it takes a minimum of 120 days or 4 months) because the trustee does not have to obtain a court order to foreclose, nor is court supervision required in order to sell the house, as is required in the judicial foreclosure process. The judicial process of foreclosure is used when a power of sale clause is not in the deed of trust.

In California, the time-line of non-judicial foreclosure begins when the trustee files a notice of default. This is a letter which is sent to the Clovis homeowner notifying him or her of their default of the loan. This notifies the Clovis owner of the intent of the lender / bank to follow through on their right to collect on the debt. The copy of the notice, which is recorded at the County Recorders Office in Fresno, is mailed to the Clovis home address. Recording of the notice of default occurs next and can take anywhere from 1 week to 3 or more months after a Clovis homeowner misses their first mortgage payment.

The next step is the filing of the Notice of Trustee’s Sale. No sooner than 90 days after the trustee records the Notice of Default, the Trustee must publish a notice of trustee’s sale in the Fresno Bee and simultaneously file that notice with the Fresno County recorder’s office. Then, no sooner than 20 days after the notice of trustee sale is filed, the Clovis home may be sold at public auction for the amount of the debt plus foreclosure costs. If no one bids at the auction, the lender / bank assumes ownership of the Clovis home and may sell it to recover their cash investment.

Clovis Foreclosure Help

If you’re struggling to make your mortgage payments, we strongly recommend that you consult an attorney and Clovis Realtor to discuss your options. Clovis foreclosures have a damaging effect on your credit for a period of at least seven years. The earlier you can address the situation, the better the overall result will be regardless of the outcome. We’re happy to address any real estate questions you may have if you’re facing a foreclosure. Just fill out the form below and we’ll point out what your options are and answer any questions you may have.

Posted by Clovis Real Estate | ClovisExperts.com / 1 Comment »

December 19th, 2009

Clovis Foreclosures – Is One Right for You?

According to some experts, there’s never been a better time to buy a Clovis home. Interest rates are at historical lows and Clovis home prices are the most affordable in years. Add to that a steady supply of Clovis foreclosures and it’s no surprise that the number one request in our office is a list of Clovis foreclosure for sale. We’re happy to give anyone who wants one a current list of Clovis foreclosures (request a list here), but many buyers don’t understand that foreclosed homes aren’t always the best deal in town – even if they do come with a price tag that appears to be lower than some other homes in the neighborhood.

Here are 5 reasons why a Clovis foreclosure may not be right for you.

Damaged homes. We see it every day, foreclosed Clovis homes with fixtures not removed, but ripped from the wall. Thieves and even angry former owners can do a lot of damage when they depart with fixtures and key systems like heaters and air conditioners.
Mold. Where there is water there is mold. Look inside cabinets, behind drawers, and around built-ins.
Blocked drains and pipes. Sewer backups can be expensive to fix. Unfortunately, some angry homeowners intentionally damage pipes and rains when they’re evicted.
Bad renovations. Homemade renovations that where not done with a permit may have to be redone. You don’t want to get stuck with someone’s shoddy work.
Fresh paint everywhere. What is the seller covering up? With no disclosures there’s no way of knowing what’s potentially wrong.

Clovis Real Estate

We’re happy to show and sell anyone a Clovis foreclosure. But what we’ve found is that most Clovis home buyers aren’t necessarily looking for a Clovis foreclosure, they’re looking for a bargain, i.e., the best deal. When you factor in all of the repairs and unknowns, a foreclosed home may or may not be the best deal. There are some great foreclosures in Clovis, and some not so great one’s too.

At Clovis Real Estate we help all of our clients find the best Clovis home at the very best possible price. We’re happy to assist you with buying a Clovis foreclosure, short sale, or traditional sale. Just let us know and we’ll help you every step of the way.

List of Clovis Foreclosures

Posted by Clovis Real Estate | ClovisExperts.com / Please leave a comment.

November 16th, 2009

Clovis Real Estate

About Clovis Real Estate

Clovis Real Estate is a Clovis, CA owned company, specializing in Clovis homes. We’re Clovis Realtors who focus on one thing — Clovis properties and all of the services and assistance Clovis home buyers and sellers require to make their real estate transaction a success! Because we’re a Clovis realty located right in Clovis, we provide unparalleled expertise to our Clients.

Clovis Real Estate – Services We Offer

Clovis Real Estate offers a number of services for Clovis home buyers and Clovis sellers, including:

Clovis real estate advice

Clovis home values (wondering what your Clovis home is worth? Click here to find out)

Clovis home searches (search EVERY Clovis home for sale on the MLS here)

Clovis home searches from your cell phone (try our new cell phone app!)

Looking for Clovis foreclosures? Get a FREE list here

Search Clovis homes near any Clovis elementary, middle, or high school (click here)

Clovis relocation services – moving to Clovis or relocating to Clovis – click here

Clovis real estate news (see an example here)

Clovis real estate market reports (click here to see an example)

Automated searches – get new Clovis listings sent directly to your email box (sign-up here)

Special Clovis home tours (click here to see an example)

New Clovis homes and Clovis builders assistance

Clovis land or Clovis lot searches (click here)

Clovis neighborhood searches – just let us know what neighborhood you want to live in and we’ll let you know as soon as a new listing comes on the market in that area.

Clovis first-time home buyer assistance (click here)

Clovis mortgage / home financing referrals (click here)

Much, much more!

Clovis Real Estate — Client Benefits

If you’re looking to sell or buy a Clovis home, you’ve come to the right place. No one knows Clovis real estate like we do! Click here to learn about all of the benefits of being a Clovis Real Estate client.

Have a real estate question? We provide FREE Clovis real estate advice. Whatever your question or need may be, we’re here to help. All you have to do is ask. We even make that easy. You can email, call, or just send us a text message.

Email: info@ClovisExperts.com

Phone: 559-325-4545

Text Message: 559-325-4545

When you want to buy or sell Clovis property, go with the Clovis experts at ClovisExperts.com!

Posted by Clovis Real Estate | ClovisExperts.com / Please leave a comment.

November 7th, 2009

Looking for a Clovis Foreclosure?

Clovis foreclosure, foreclosure clovis, clovis reos, clovis reo, clovis banked owned

Clovis Foreclosures

There continues to be a steady stream of Clovis foreclosures on the market. However, Clovis foreclosures sell very quickly. If you’re searching for a Clovis foreclosure don’t wait too long and miss out on a true bargain. As of today, there are only 43 Clovis foreclosures for sale.

Get Clovis Foreclosures Automatically

You can search all Clovis foreclosures for sale here or we can send you foreclosures in Clovis as soon as they come on the market. Just sign up for our automated email here. You can also learn how to buy a Clovis foreclosure here or read our Clovis foreclosure tips (not every Clovis foreclosure is a good deal).