FORECLOSURE WARNING SYSTEM
Our Foreclosure Warning System is a graphical chart we developed in order to make it easy for our clients to know and understand what stage their foreclosure process is in and the right time to Short Sale their house in order for them to obtain the most benefit from their foreclosure.
Now is a key moment to determine the best time for you to Short Sale your house. It is YOU who needs to decide the best time, not the realtor, not the attorney, not even the bank. Our Foreclosure Warning System will help you with that decision because it will show you not only where your case is but also what papers you may file or submit and how much time you have left in your home.
Your foreclosure starts at Low Risk. As time goes the risk of losing your home increases to Guarded, then Elevated, then High, and finally Severe Risk, in which a sale date will be set for you home to be sold at public auction. But before that happens you can take action.
THE 5 STAGES ARE RANKED IN THE FOLLOWING WAY:
RISKYou are served with a Summons and a Foreclosure Complaint that must be answered within twenty Days. This most often occurs because of non-payment of your mortgage. If you are not going to pay your mortgage because you wish not to or because you cant then enjoy your home and save as much money as you can.
RISKThe final stage of your case where your home will be auctioned off at the courthouse. But there are still things you can do to fight back. Before the auction sale takes place you may file a Motion to Cancel Sale and attach a copy of your Short Sale Approval letter from the Bank. You may also ask the Judge, through your motion, for 90 days in order to get your short sale done.
By examining the Foreclosure Court Report and The Foreclosure Warning System you will easily pinpoint what degree of risk you are in and what responsive document you may file or submit to counter your adversary (the bank) and the best timing to initiate a short sale. The Court Report is here to empower you to take control of your case and BENEFIT from your foreclosure. Note: All cases are different and will have varying results but the sooner you start the sooner you’ll benefit.