If you would like to speak to us regarding foreclosure help in Oxnard, call us today at 805-250-8335 for a FREE, no-obligation consultation. Or if you prefer, you can also fill out one of the forms on this page or send us an email to Info@DreamHomePS.com.
Foreclosure Help in Oxnard
This page was created to give you the information you need about the foreclosure process in Oxnard California, and throughout Ventura County. Armed with the right information, you may be able to prevent the loss of your home and equity through foreclosure. Although this information will hopefully help you understand the process, it is still recommended that you contact a real estate professional if you are indeed facing foreclosure. This page is accurate as of the date of its writing, but laws and regulations can and mostly will change. Although we will do our best to keep this information up-to-date, we cannot guarantee that we will be able to update everything on this site as quickly as they change. If you ever have any questions or need foreclosure help in Oxnard, feel free to contact us using one of the forms on this page, by email at Info@DreamHomePS.com, or by phone at 805-250-8335. All consultations are no-obligation and completely free of charge.
Let’s begin with the basics. A foreclosure is the process in which a lender tries to take back an Oxnard home from the homeowner for failing to satisfy the terms of the loan. In most cases, this happens when the homeowner is late on mortgage payments or stops making them all together. Foreclosure proceedings in Oxnard are usually initiated by the lender after the homeowner falls behind on his or her mortgage payments.
Falling Behind On Payments On Your Oxnard California Home
If you have missed one or more mortgage payments, the bank will start contacting you to inform you of the missed payment and that they expect to be paid. Depending on the bank, how long it takes for the initial contact can vary. If you are in this stage, you don’t have to worry about your home being taken away immediately. You typically have about 3 or 4 months left in the process. That doesn’t mean you should wait to take the appropriate action though. If you are able to catch up on your missed payments, it is best to do that as soon as possible.
Foreclosure Avoidance Assessment In Oxnard California
After you have missed a payment, the lender must contact you and perform a foreclosure avoidance assessment. This will be their attempt to assess your financial situation and explore any options available to avoid foreclosure. The bank cannot start the official foreclosure process until at least 30 days after the foreclosure avoidance assessment. Again, depending on the lender, the next step could happen right at the 30 day mark or it could be weeks or months later. It is recommended that during this phase you consult a real estate professional of your choosing regarding your options. As mentioned above, we would be happy to talk with you to gain an understanding of your unique situation and help you come up with options.
Notice Of Default In Oxnard California
If you and the lender are unable to come up with a plan to avoid foreclosure, the lender can then file a Notice of Default (NOD) with Ventura County. This can only be done 30 days after you are contacted for the foreclosure avoidance assessment. You will receive a copy of the NOD by certified mail within 10 days of the lender filing with the County. You then have 90 days to resolve the default before the lender can file a Notice of Sale. If you have received a NOD, it is still not too late to contact your lender to see if any arrangements can be made. If you have not done so already, it is highly recommended that you do so immediately.
You also should be aware that NODs are public information, which means anyone can access it. You may begin to receive letters from various companies offering foreclosure help in Oxnard. While some of these companies will be legitimate, there may also be fraudulent companies and scam artists. Before receiving help from any of these companies, we recommend doing an online search to verify their legitimacy. Also, be cautious about paying anyone any upfront fees for foreclosure help in Oxnard, especially if they try to make you guarantees that aren’t in writing.
Notice of Sale
Any time after 90 days of recording the NOD, the bank can record a Notice of Sale on your property. Any time after 21 days of the notice of sale being recorded, the lender can sell your property at auction. Although this is the very last step before the actual sale, all is not completely lost. You then have up until 5 days before the foreclosure sale to cure the default and stop the foreclosure process. If there is not a buyer for your home at the auction, it will then go back to the lender as a Real Estate Owned (REO) property.
Foreclosure help in Oxnard, California
The most common theme we see with homeowners who are facing foreclosure in Oxnard is waiting until the last minute to take action. The longer you wait, the less options there are to stop the foreclosure. It is very disheartening to see homeowners lose their homes and their equity when they could have potentially kept them if they would have taken action sooner. If you are facing foreclosure in Oxnard, or anywhere in Ventura County, and have any questions whatsoever, please reach out to a real estate professional as soon as possible. We would be happy to help in any way possible and explore your options with you. As mentioned above, feel free to send us an email to Info@DreamHomePS.com, give us a call at 805-250-8335, or fill out one of the forms on this page. All consultations are no-obligation and completely free of charge.