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Foreclosures |
When debtors are unable or refuse
to pay their loan, foreclosure action
can be the most resourceful solution
to recover your profit.
Foreclosure is the legal process by
which a
borrower in default under a mortgage is deprived
of his or her interest in the mortgaged property.
This usually involves a forced sale of the property
at public auction with the proceeds of the sale
being applied to the mortgage debt. |
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| Some
mortgage loans are secured with a deed of trust
(sometimes called trust deed), others with a mortgage
deed. There is an important difference, as the deed
of trust normally contains a "power of sale"
provision. This means the foreclosure can take place
without going to court (called a non-judicial foreclosure).
Obviously, this is a great advantage in terms of
both time and money. |
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Trust
deed states are:
Arizona
California
Nevada
Oregon
Texas
Washington |
If your investment property is in one
of the above states, we can help you. Our experienced staff
will:
- Initiate foreclosure action within 24 hours
of receipt of your referral
- Send all applicable foreclosure notices
- Send you a detailed Property Analysis
- Update your analysis and net profit and keep
you apprised every step of the foreclosure process
- Confirm your lien position
- Give you names of other lien holders that might
pose a threat to your position
- Determine the best strategy for your investment
- Advise you of your options
Even if foreclosure action does
not result in a full payoff of your loan, we can still help
by:
- Collecting on the promissory note and initiating
litigation if necessary
- Retrieving any surplus funds available
We make each distribution determination
on a case-by-case basis and only after careful review of the
property's junior liens.
HOA/Condominium lien?
Let our practiced staff help. In addition to the above, we
will also:
- Pursue collection activity for delinquent dues
- Place assessment liens on properties, if necessary
- Initiate foreclosure and/or protect your position
from superior lien holders
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