First off, let’s talk about what
exactly a Notice of Default or NOD is. In a California non judicial foreclosure
the lender is required to give the borrower a public notice, filed with the
county court that they are in default and by the terms of their loan documents
are facing foreclosure. The Notice of Default must
run a minimum of 90 calendar days before a Notice of Sale is filed. If within
21 days the loan is not brought current or other arraignments made the trustee
really does have the right to sell your property on the courthouse steps.
With that said, to answer the
question, yes you can complete a West Sacramento Short Sale if an NOD has been
filed. Since, on average, our West Sacramento Short Sales take 4 to 6 months to
complete and once the NOD has been filed there are only 111 days before the
property can be sold at auction, you can see what a sense of urgency there is
if the NOD has been filed.
We can do it and have successfully
completed short sales where a NOD has already been filed but it places a lot of
stress on everyone concerned. If you have made the decision to short sale your West Sacramento home, it is best
to do so before you get the Notice of Default.
To get a better
idea of when
your West Sacramento home will beworth what you owe, log in to www.shortsaleandloanmod.info
for a free estimate or call me today for a free no obligation consultation or
for the latest West Sacramento short sale information. Call me
today and sleep better tonight; you’ll be glad you did
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