If you’ve gotten a foreclosure notice of default and want to know what the heck is going on, keep reading.
Basically, a foreclosure notice of default is a document that has to be filed by a lender to start the process of foreclosure.
The foreclosure notice of default must be sent to anyone who has an interest in the property (any other loans, lenders, or even contractors who are owed money for work done to a property will get a copy).
The foreclosure notice of default must also be published in a newspaper and physically posted in a prominent place on the property itself.
Although this can be really embarrassing to someone going through foreclosure, it’s actually a very important protection for consumers.
Back before US law required a notice of default, people were sometimes foreclosed on without any warning.
In fact, it’s happened even in the past few years – at least one bank has accidentally foreclosed on the wrong property and kicked people out of their house without due process or warning. It’s even happened around Appleton, Green Bay, and Oshkosh.
The notice of default is a very important step within the foreclosure process that gives people with an interest in the property to step forward and claim their rights – before it’s too late.
If you’ve received a notice of default, don’t wait. Time is definitely of the essence, and you should take action.
Here are a few key steps you should take:
1) Stay calm and don’t panic.
This may sound obvious, but it’s probably the most important. Anyone in foreclosure is dealing with a lot of stress beyond just the property. These situations don’t happen overnight, and they take a while to solve. You’ll get through it by practicing good coping techniques and taking good care of yourself and your family. Panic leads to bad decisions, so stay cool.
2) Educate yourself.
Learn everything you can about the foreclosure process in your state so that you know what’s happening and what’s coming up next.
3) Gather your resources.
There are also many non-profit and government resources available out there. You’ll want good legal and tax advice along the way. Definitely, don’t try to do it all yourself. This stuff is super complicated with lots of rules.
4) Learn your options.
We’re here to help you avoid foreclosure. We buy houses with cash in Appleton, Green Bay, and Oshkosh. We can help you with short sales and even rent-back situations so you (potentially) may be able to keep living in your home. There are many more options than you think.
The banks involved don’t want your property. They want money, and what you say matters a lot. You can slow down or stop the foreclosure process if you take the appropriate action.
Want to know more?
Call us anytime (920) 350-3050 or connect with us on our website
and we’ll lay out all of your options for your specific situation.
5 Ways To Stop or Avoid Foreclosure In Today’s Market – FREE Guide:
Need more information on the foreclosure process and How To Stop Foreclosure? Download our FREE Stop Foreclosure Guide here. Or, you can always feel free to contact us anytime if you have questions, want a no hassle Situation Evaluation, or want to just learn more about how we can help homeowners avoid foreclosure or sell unwanted properties for cash in Appleton, Green Bay or Oshkosh.
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Selling your house in Appleton, Green Bay or Oshkosh can be a stressful process, but it doesn’t have to be. Utilize the explanations in the Video FAQ list to ease your worries and concerns about selling your house in Appleton, Green Bay, Oshkosh or the Fox Cities Area.
The process from an initial meeting and our “How to sell your house in 5 easy steps” video to an offer and our “How we determine your home’s value” video. To closing and “What happens during the closing and title process” to receiving your check, it is all right here for you to view at your convenience. You’ll know what to expect every step of the way.
Along with other information on this website, the frequently asked questions and videos will help you answer any question you may have about selling your house in Appleton, Green Bay or Oshkosh. Questions like “Are we listing the house”, “What kinds of properties we buy”, “Is there any obligation to work with us”, “How fast can we close” and many more. We have covered all of the questions we get asked on a regular basis and answered them to the best of our ability.
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