Q. What is the foreclosure process?
Q. If I am in foreclosure will I have to go to court?
Q. What happens to my house after the mortgage company takes it?
Q. Can I get my house back once I'm in foreclosure?
Q. Can I stay in my house if I do a short sale?
Q. Does a foreclosure affect my credit score/report?
Q. How do I learn to invest in real estate?

Q. What is the foreclosure process?

A. The foreclosure process is started when a property owner has become at least 90 days delinquent on his monthly mortgages. After that property owner is more then 90 days deliquent he/she has entered the foreclosure process. Usually your loan company will contact you and ask that you bring your past due balances current within a given amount of time. If the property owner is still unable to bring their account current the mortgage holder then has the right to foreclose on the property and take the property as repayment for the loan that was not being paid.

Q. If I am in foreclosure will I have to go to court?

A. No, in the state of California when you sign your loan papers one of the papers that you sign states that if you default on your loan you agree to settle your dispute out of court. So that means you will not be going to court if you are in foreclosure.

Q. What happens to my house after the mortgage company takes it?

A. In most cases your house is sold at auction.

Q. Can I get my house back once I'm in foreclosure?

A. Yes you can but in order to do that you must act fast! You have several options in order to avoid the auction date.

Q. Can I stay in my house if I do a short sale?

A. No, Your house is sold but the positive aspect is that you do not have a foreclosure on your credit score, as well as piece of mind. It also stops those annoying phone calls from creditor's.

Q. Does a foreclosure affect my credit score/report?

A. Yes if you do nothing and allow your house to be sold at auction you will have a forclosure on your credit score and it will affect your credit score for years to come. You may also have a judgement against you as well as a 1099A abandonment of assets which you will have to pay taxes on! You will have a difficult time securing credit loans and if you can secure them you will have a substantially higher percentage rate.

Q. How do I learn to invest in real estate?

A. The same way we did! Contact us and we can get you started!