When your home goes into foreclosure in California, the courts will give the homeowner a certain amount of time to move out. The homeowner can pay what is owed to keep the home.
what is the time for foreclosure on a home in california?
The money is gone after foreclosure.
Foreclosure laws typically apply based on the location of the property, so in this case, California's foreclosure laws would likely apply to the properties you both purchased in that state. It's important to consult with a legal professional in California to fully understand the implications and processes involved in the foreclosure proceedings.
Unfortunately, foreclosure happens.
Please see http://www.foreclosurelaw.org/California_Foreclosure_Law.htm. There you will find a summary of foreclosure laws in California.
It is the same process as any other foreclosure, except that at the conclusion of the foreclosure, the tenants will be forced to leave.
A good website to help California residents in foreclosure is keepyourhomecalifornia. It is a good program especially designed for this type of problem.
The homes in foreclosure are sold at auction after notice and publication of the date, time and place.
1 in 3267 homes in Inglewood, CA received a foreclosure filing in August 2009.
The Foreclosure Laws in the State of California Adhere to Nonjudicial and Judicial Practices. Judicial Practices Involves Filing a Lawsuit. in a Nonjudicial Practice There Are No Court Proceedings.
The following companies can assist a person with foreclosure laws in California: Courts, Realty Trac, USA Government website, Home Loan Help, to name a few.
Nothing happens to you.. It wont affect you anymore that it affects me... LOL But your partner will have a foreclosure on their Credit Profile. You are responsible only for the payment history on any loan with your name on it. The Foreclosure that your partner suffered shows only on the foreclosed party's credit bureau. You probably won't want to use that person as a co-borrower for a while. No mater what the type of Lender you apply to, you will have a rate and or fee add-on; due to the partners previous foreclosure. Trenton "Trent" Sims California Broker 310.422.0435, 310.807.9230 Tsims@Green PlanetFunding.com