This can certainly vary from lender to lender. However, from the date of your first missed payment to the date of the foreclosure auction, it is possible that as much as four months could elapse. It depends on many variables but the two biggest factors are your local enforcement and your mortgage holder’s desire for moving quickly.

It would be a most unusual circumstance that would cause this to be possible. Sometimes people are encouraged to “drop off the keys in the mailbox or at an office somewhere.” That should probably be the last thing you would ever do. Only when a foreclosure sale has happened and there is a new owner do you normally no longer have the right to occupy the house.

If you have fallen into foreclosure, your lender is generally not highly motivated to be flexible in working with you. The larger lenders have millions of loans on the books. Most people find that trying to work out arrangements with lenders themselves often only results in frustration. Endless attempts to contact their lender by phone and endless paperwork only seem to get them nowhere. Sire Properties is experienced in dealing with the lenders and loss mitigation firms that serve your market. By working with Sire Properties, you have the experience of a professional who successfully deals with foreclosure situations all the time – working on your side.

Well, it’s likely that you are here because you’re already concerned. Since you are visiting this website, you probably have a reason to be worried. Sometimes people don’t take this process seriously until they actually receive a notice of Lis Pendens. At this point you should be extremely concerned and would be well-advised to already have Sire Properties helping you deal with your problems.

Absolutely. If you start exploring your options when you are only late with your first payment, there are quite a few different options. However, as the time between your initial late payment and the time you get started addressing your problems drags on; your options begin to get more and more limited. The time to act is now – not later.

Actually, you always have some options. Realistically, even after a foreclosure and eviction, you could still buy your house back. Realistically, if you haven’t been able to make a deal to save your house before eviction, the chances are very good that you will be unlikely to structure a deal to buy the house back. This is largely based on the assumption that you hired a capable attorney and had the ability to strike a deal. If so, you would have done so long before a sheriff removed you from the house.

1. You miss one or more payments on your mortgage.
2. The lender will send you a late notice and try to contact you by mail or phone to try and resolve the problem.
3. If no arrangements can be agreed upon and the homeowner continues to miss payments, then the lender will make a written demand for payment of the full amount owed on the property. This demand is based on the acceleration clause usually found in a mortgage agreement.
4. The lender then sends a notice of intent to foreclose.
5. After sending notice, the lender files a legal action with the court.
6. The legal notice is then published in the local newspaper.
7. Court issues order allowing lender to foreclose.
8. Legal notice of the sale is also published in the paper.
9. Finally, the property is sold at auction to the highest bidder.

Be aware that these steps can sometimes happen fast and this process can be a very short one. Don’t hesitate – now is the time to get in front of the process by working with Sire Properties before you run completely out of options.

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A Foreclosure is a legal matter and your name and address is part of the public record. Information regarding foreclosures is collected and sold by companies who do nothing but this and have clients that are seeking to work with you to resolve your situation.

• Bankruptcy Attorneys: While it’s true that a bankruptcy does not look as bad on your credit as a foreclosure does, this option should only be considered as a last resort. There are probably several other options to consider first.
• Mortgage Brokers: A Broker may indeed be able to help you refinance your home and pay off your current mortgage. While this is actually an acceptable option, be aware that the interest rate for the new loan will likely be quite high. This is because in your current circumstance, you are considered a high risk loan candidate.
• Con Artists: Be VERY careful of the deal that sounds too good to be true. Without realizing it you could be talked into giving a con artist money and then watch as they disappear. In some cases they may even be able to take the title to your home and force you to rent to them. If you lose the ownership of your home like this, not even bankruptcy can help you and you’ll be left powerless.

Sire Properties: Simply put, we are the “Good Guys”. We are specialists in really helping you consider your alternatives. We know the languages that mortgage companies speak and can help you make the best decision possible…. and yes, if selling your house is the best option, we can certainly help you do that as well.

There is no one answer to that question. It depends on many different variables and all of them must be carefully considered when formulating a plan of action. A careful review of all your assets, liabilities, income and expenses is a basic requirement as is a thorough understanding of exactly why you are facing foreclosure and how far along in the foreclosure process timeline your situation has advanced. All of these factors play a significant role in determining your best option or options – indeed there can be more than one best option. Sire Properties is experienced in dealing with these situations and can help you make the right decision. The time to start working on this problem is NOW, not later when your options are severely limited.

A foreclosure sale is held by a mortgage holder. A sheriff’s sale is held by a lien holder or other attached creditor.

• All the legal notices and the property description are read aloud by the Auctioneer.
• Bidders are then required to offer their deposits before bidding begins.
• The auction is then held until a final bid has been received.
• All non-winner’s deposits are then returned.
• A deed of purchase and any other appropriate paperwork are then completed by the purchaser and the mortgage holder.
• The purchaser then is extended a short period of time (until 4pm the same day) to satisfy to purchase.
• At the closing arranged by the new owner formal title to the property then passes to the new owner.

• Almost always, any outstanding real estate taxes are paid first.
• Next, proceeds will be used to pay off mortgages in their order of precedence (first mortgage, second mortgage, etc.).
• Then, any other lien holders and other secured creditors who have valid claims against the property are paid.
• Last, if there’s any money left from the above, it is paid to the former owner.