Foreclosures in Southern California And Your Options

Are foreclosures increasing in Southern California? What should you know?

First a few stats.

Southern California Foreclosures In The Last 90 Days

So are foreclosures on the rise? No not necessarily. For example, during the same time last year in Orange County, there were 234 properties that started the foreclosure process and 115 that were scheduled for auction. Not much of a change.

However, the part that disturbs me the most is it appears that almost 50% of all the properties going into foreclosure are being auctioned off at the courthouse for a significant discount. This is a big detriment to the current homeowner. Even if they have no equity, there’s better options than letting it foreclose.

Take Over Payments

For example, we have a program where we’ll take over the payments, bring any mortgage balance current, bring any taxes and HOA current and if there’s any equity in the property, if we decide to rehab the property and re-sell it, we’ll work out an equity share with the seller so they can still put money in their pocket. Often times we’ll even help with moving expenses.

At the very least this will allow the homeowner to restore and quickly re-establish their credit showing current on their loan so they can move on to something else without having to worry about getting beat up over bad credit.

Best Cash Offer Guaranteed

Another program we offer that we’re very proud of is our Best Cash Offer Guaranteed. I imagine several of these homeowners have already reached out to a cash buyer in hopes of making a quick clean break. But they were quickly disappointed to find out they were getting a super low ball offer that wouldn’t even pay off the mortgage or put any money in their pocket.

Well, we put a twist on this concept. Over the last 25 years we have built up a massive list of ‘REAL’ cash buyers. When someone tells us they want a cash offer, we thought we could be like all the other low ball buyers but instead, we decided to create competition even for ourselves.

When we look at a property, using technology, we send that property to hundreds of local cash buyers who then get into a frenzy about buying your property. The end result is that over the course of less than a week, they will fight to outbid each other giving you a higher net sale.

This is one of those programs where there’s no excuses to not give it a try.

There’s no commissions, no closing costs, no clean out and no repairs. But you get hundreds of cash buyers begging for your property. We love it.

Don’t Let The Bank Have It Back!

Ultimately one of the worst things you can do is let the bank take the property back. It destroys your credit, they squander any little bit of equity you might have had and you’ll get beat up across the board because of bad credit. Everything from simply trying to rent a new place, buy a new home or even job prospects and more.

If you’d like to discuss your options, feel free to reach out to me directly. I’m always happy to chat and there’s never any cost. I just like to help when I can.

Anthony Nitz
714-900-2710

As an additional resource, in this video I go over some of the negatives of letting a property foreclose.