FORECLOSURE.JOHNNAZARENO.COM: Tip for homeowners in Foreclosures

Tip for homeowners in Foreclosures

Are you a Homeowner in Foreclosures for some time now?

Most likely if you are then that means you are not paying any more mortgages, correct? I hope so!

This days foreclosures last anywhere from 6 months to several years depending on your state. If you read some of my other blogs you know there are 3 types of foreclosures (pre foreclosure, Notice of default and REO)

Some tips I would like to share with homeowners thinking of any kind of foreclosures from strategic Foreclosures to simply not able to pay off mortgage foreclosure.

Most likely when you stopped paying off that mortgage, the bank will start calling or sending someone to your doors either with or without you knowing about it, some of this people are very aggressive and will even picked your door locks if you don't answer the bell (yes it's true, scary but I kid you not). Make sure you let them know someone is still at home, respond to the door bells, leave a car outside during the daytime/nightime etc..leaving a note outside the door or windows stating someone is still at home won't do, the bank representative needs to see a real living person and most of top notch people will request an ID to confirm indentity if you are the homeowner or Tenant.

Should the bank start calling you or send someone to find out why you stopped paying off the mortgage and you really decided that foreclosures is the right thing for you and your family, you can DEMAND "Cash for keys" (Cash for Keys Definition : encourage tenants to leave quickly and save court costs with eviction, banks offer tenants a cash payout in exchange for their rapid departure) and make sure you tell them you want the check the last day you leave property and don't be fooled by "we will mail it to you". Depending on your State, City, Home Value etc ... you can get up to a few thousand dollars (in my California Foreclosure area one can get on average of $4500 to $5000) but make sure you know how it works so communicate with the bank or it's agent what needs to be done for this to happen but usually you need to get all your junk/stuff out of the property, patch holes etc.