Tehachapi (Kern County) Homeowners Concerned about Foreclosure Should Seek Help Sooner

by Sally Lawrence

Don't let the lender take your Tehachapi home!Are you a Tehachapi or Kern County homeowner?  Have you received a Notice of Default from your lender?  If so, that means you are already 90 days behind in making your payments.  Chances are you were pretty sure that trouble was on the horizon by the second month that you were struggling to meet your obligations.

John is a great example of what a typical homeowner goes through in an effort to “do the right thing.”  John had been out of work for about a year and had used his savings to make his mortgage payments for as long as he could.

After he received the Notice of Default from his lender, he called them to see what could be done.  He decided to pursue a Deed in Lieu of Foreclosure.  John went through the difficult process of gathering all the documents the lender required (pay stubs, bank statements, tax returns, written financial statements, hardship letter, etc.) and followed up with the lender weekly.  Sometimes he would wait on the phone for more than an hour to talk to someone.  One of his discoveries was that each time he called he spoke to a different person and didn’t get any real information.

It wasn’t until he was six weeks into the process that the lender made it clear to him that his request would not be considered since his house was not listed for sale.  On top of that the lender had already set the auction date which was only a month away at this point.  John was under the mistaken assumption that the people he was talking to about a Deed in Lieu were also the people that would delay the auction.

Because he didn’t think he had any options except foreclosure, he had arranged to move from California to live with family in the East until he could get back on his feet.  With less than four weeks before the auction, John listed his house for sale.  He finished his packing and moved out.

We were able to secure a qualified buyer relatively quickly.  Even so, we started negotiating with the lender just five days before the auction!  Despite spending more than 16 hours on the phone with two different departments and the trustee’s attorneys, we could not secure a delay for the auction in order to get the purchase offer considered.  Folks, this was just not enough time to get this auction stopped.

What could John have done differently?  If he had taken action sooner, the outcome could well have been different.  When you know you are having trouble making your mortgage payments, find out what your options are.

Contact me for a no cost, no obligation consultation to find out at least a dozen ways to avoid foreclosure.  Fill out the contact form here, or call me today at 661.375.REAL.

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