I just received Notice of the Intent to Foreclose from my lender. What will happen if I simply do not respond?

Sell My House West Sacramento

Foreclosure laws vary from state to state, and it is imperative that you know and understand the applicable laws in your state.  In the state of California, for instance, your lender cannot begin the foreclosure process until at least 30 days after contacting you with the intention to foreclose.  It is incumbent upon your lender to work with you toward a solution that would allow you to avoid foreclosure.

Once the foreclosure clock begins ticking, the worst thing you can do is nothing at all.  Eventually, you will lose your home, and you will be stuck with a black mark on your credit report.  By doing nothing, you are guaranteed to make a bad situation worse.

It is also in your best interests not to simply abandon the property.  By remaining in your home while trying to find the best possible solution to your financial dilemma, you have far more rights and protections available to you than if you leave the property vacant.

http://www.elitehomeoffer.com/blog/

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s