We buy houses in Orem UT. 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 foreclosure process.
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, as home buyers in Orem UT, we can say it’s actually 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 Orem UT.
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 in Orem UT
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 on UT Laws.
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) Communicate with lenders in Orem UT.
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.
5) Learn your options in Orem Utah.
We’re here to help you avoid foreclosure. We buy houses with cash. 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.
Want to know more?
Sell My House In Orem UT
Sell your house in Orem UT. You can bypass all these steps quickly and easily by selling your property to a local real estate investment company for cash. At Summit Home Buyers, LLC, that’s exactly what we specialize in buying homes fast.
We are Orem UT home buyers. Homeowners who simply don’t want the hassle or who don’t want to endure the long wait times but just want to sell their home quickly can do so with one phone call to (801) 410-0341 .