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    Is Santa Clarita becoming the Foreclosure Capital of the World?

    Not Hardly – but we have our fair share of the “distressed” inventory. Although, for the last 18 months it has been no where as dramatic as we observed in 2008 throughout 2009.

    The First step in any Foreclosure process is the Bank recording a Notice of Default (a court process letting the “legal system” know that the homeowner has not made payment on their obligation). Typical time frames between non-payment and filing is anywhere at 90 days or more without payment to the mortgage holder.

    Santa Clarita Foreclosures
    Click here to go to our Pre-Foreclosure Search Site

    We have seen this being dramatically different in some circumstances and know of NOD’s(notice of defaults) having been filed when payments were not received after a single month. We have also seen the other end of the spectrum – with a Country Wide Mortgage that converted to B of A – 23 Months until a NOD filing…

    It is much easier to save a home when a person is only one month behind – but the charges go up dramatically after the NOD is filed – in some cases these “attorney fee’s” and “late fee’s” can exceed $5,000 or more. These fee’s are placed on top of your regular payments. Some banks throw the dirt in much faster than others.

    It seems the smaller and more disconnected the bank holding the mortgage are, the more their shovel holds. The Big 4 Banks have changed their process streamlining it with Standardization in place. If your mortgage is held by one of them, you can almost set your watch by their method of operation.

    When feeling buried – it is paramount that you get good advice about your options. Make sure those whom you choose to work with understand the Short Sale process and have a track record to prove their ability. You would not get major surgery without a second option anymore than you should Short Sale without having all of the facts.

    [srp_profile lat=”34.4132501″ lng=”-118.5597561″ address=”Valencia Blvd” city=”Valencia” state=”CA” zip_code=”91355″]

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    Article re-posted from The Signal Newspaper.

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    Paris and Connor MacIvor

    Connor and Paris MacIvor are in the Top 1% of Realtors Nationwide, starting their real estate business in 1998 with RE/MAX Gateway - Santa Clarita Valley and Valencia CA. Their becoming licensed real estate consultants and representatives came from the horrible experience they had when they bought their first home. There were many things that the agent they had hired did not explain and disclose, which per law he should have. Getting that agent on the phone after they closed escrow and after he had gotten paid was impossible. Paris and Connor called the broker, the board of realtors, the office manager and all they received was the promise of a phone call back. The remedy did come, but not as fast and in the way they wanted. That act - that bad agent was the reason why Paris and Connor became Realtors. That was all they needed to vow to never let the same fate befall anyone else, that befell them. Today Connor and Paris are focused on client service. Protection and top-shelf service with regard to their real estate clientele. They primarily work within the Santa Clarita Valley and Valencia CA. However, for a referral, where 80+ of their business is referrals they have License and Will Travel to other parts of Ventura County, Los Angeles County, and Orange County to handle real estate transactions for those who trust their real estate operation. Writing on their Real Estate Blog is a passion. SCVnest.com/blog is where you will find over 10,000 real estate articles. Go to SCVnest.com/radio to listen to their latest real estate radio broadcast.

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