05/23/2013– What you need to know about Chula Vista CA Foreclosures

Foreclosure is a legal process where banks remove the homeowner's right to redeem their mortgage due to their inability to continue making mortgage payments.

Foreclosure is initiated by the bank when homeowners miss their mortgage payments and is carried out by their attorney team.

If the homeowner is unable to bring their mortgage current, the property will be sold at a county auction.

If you are in default on your mortgage payments, the foreclosure process will inevitably be initiated by your bank.

Many homeowners are taking advantage of certain foreclosure alternatives in order to prevent a public auction from occurring as a result of foreclosure.

A foreclosure alternative offsets the monetary losses incurred by banks during the foreclosure process. Foreclosure alternatives must be initiated by the homeowner, not the bank.

Foreclosure alternatives may include short sales, loan modifications, forbearance plans, or deed in lieu of foreclosure. Learn more in the Resources section on the site for additional information.

The foreclosure process is different for each state.

The best way to determine what type of system your state uses for foreclosure is by discussing your situation with me, your Certified SSAA Professional.

I'm looking forward to discussing the foreclosure process and how it pertains with you during your home.

Let's find out together what rights and options are still available for you to prevent foreclosure.

Best Regards,

Mike Watson
(619) 779-7279

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