Cheryl Gollnick
Real Estate Broker
Mortgage Broker
Trainer & Investor

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We Help Homeowners In Foreclosure

Real Estate Group is our licensed real estate brokerage.

We work with traditional sellers and buyers, but we also work with homeowners whose property is in foreclosure.

We'll cover the process below and you can view the documents that cover this, but the property moving through this process of foreclosure is actually called a "preforeclosure".

The term to use for a property that has gone through this process and has been sold at auction or has been deeded back to the lender is called a "foreclosure".

You can click the links below to view the documents relating to foreclosures: 
What Happens To A homeowner In Foreclosure
Foreclosure Timeline
Foreclosures In California

This is how it works though. Once the homeowner has missed at least 3 monthly payments, their lender may file a "Notice of Default'. This is a public document filed with the county recorders office. It tells anyone who see it, that the homeowners loan is in default. This notice shows the amount of payments in default and the approximate date the property may be scheduled to be sold at public auction, if the homeowner does not catch up the back payments to bring their loan current. 

The homeowner is served with a copy of this notice. Some try to sell their home so they can pay off the loan before the lender forecloses. The owner will try to sell at the home's market value. The problem is that most owners will wait too long and since traditional buyers and investors see the property is in foreclosure, they will never offer full market value to the owner. In fact, most of the properties purchased in the preforeclosure period are purchased for much less than market value. Homeowners usually see offer at only 50%-60% of the home's current value.

Homeowners usually agree to this price, because at this point, the owner just needs to sell and close on the property before the bank files their final notice called "Notice of Trustee Sale". This comes as early as 90 days after the Notice of Default is filed and it only gives the homeowner 21 days to sell their property and pay off the loan and any defaulted payments and fees to date, or the property will proceed to foreclosure.

We help homeowners by bringing in an investor who has cash and can close the property fast.

The owner hopes the investor will give them enough cash to move out and move on with a clean slate, having beat the lender to the auction. This is much better for the homeowner's credit as well, as their credit report will show the loan was paid off in full, as opposed to being lost to foreclosure.

If you are a homeowner in foreclosure, contact us so we can help you.


2708 Maple Drive
Hemet, CA 92545

DRE# 01117664

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