It is not easy for the average homeowner to understand the laws and regulations surrounding the Foreclosure process. Don't rely solely on City mortgage or a Foreclosure sale web page for information. There are only a few important facts.

Once you stop making your payments, the pre Foreclosure process begins automatically. The california Foreclosure process will eventually culminate in a trustee sale where there may be a partial claim.

The Foreclosure process can take up to a year, depending on who is assisting the homeowner. However, Foreclosure can occur in as little as 4 months, if the homeowner takes no action to try and prevent it. Remember that while the Foreclosure process occurs, most homeowners remain in their homes without making mortgage payments.The determining factors for a successful Foreclosure are the lender's policies and the skills of the negotiator who represents the homeowner.

It is rarely useful to try to understand the facts and regulations about Foreclosure because the actual process bears little resemblance to the state statutes. Instead, focus on finding a skilled negotiator who understands the various lender policies, as each lender's policy is different. Until this fact changes, your negotiator is your best source of help and information.

Using an attorney is an effective option. However, attorneys generally charge fees up-front and require payment whether or not a settlement is reached. Foreclosure negotiators are capable of completing these transactions, and they often will not charge the homeowner unless the transaction is successful. 

Each homeowner's situation is different, so we recommend you speak to both an attorney and a loss mitigator if you have complicated questions. If you are simply unable to afford your payment and foreclosure is imminent, the negotiator who doesn't charge up front is often your best option.

Email info@wabroker.com for more free information about the Foreclosure Process.