Time is of the essence. Contact us as soon as possible to find out how the experienced attorneys at JT Legal Group can halt your foreclosure, postpone your sale date, or prevent a trustee sale entirely. Our team will contact you shortly to discover more about your case and provide a Free 15-Minute Consultation with a San Jose foreclosure defense lawyer.
In California, when someone agrees to a loan in order to purchase property, they are signing a promissory note and also a deed of trust. A “promissory note” is a legal promise to repay the loan and the “deed of trust” secures the promissory note. For any questions about how a loan works or any foreclosure related matters, you may want consider speaking to a California foreclosure attorney in order to get the best possible advice.
The California Homeowner Bill of Rights (CHBOR) has been in effect for a little over three years at the time of this writing. This is a critically important document for all homeowners in the state of California to be informed about. In the CHBOR, protections are laid out for homeowners that seek to cure the shady and overly aggressive foreclosure practices that had become rampant in the decade prior. A good foreclosure attorney will have an incredibly thorough understanding of the CHBOR, and will have successfully litigated based on its tenets many times in the past. Once you have familiarized yourself with the CHBOR, you will want to contact foreclosure lawyer in San Jose — as they know first hand how to protect a borrower’s rights.
Most deeds in the state of California have a clause requiring the lender to send a breach or demand letter. It will inform a borrower that their loan is in default. The letter must describe the default and actions required to resolve it. A specific date when the default must be resolved should be listed.
If a default is not cured, a Notice of Sale will be recorded. It’s important to contact a San Jose foreclosure defense attorney before this happens. The notice will contain the time and place of the sale. A borrower can reinstate their mortgage five days before the sale date if the sale is a nonjudicial foreclosure.
Dual tracking is one of the most common ways your lender might be in violation of the lending practices required by the California Homeowner Bill of Rights. Contact a foreclosure attorney in San Jose, CA today to see if you were a victim of Dual Tracking.
This real estate market has seen over 1,057 homes go into the foreclosure process. The median price for a foreclosed home is approximately $577,250. One bright spot is that the number of homes being threatened with foreclosure was down 37 percent in 2015 from the previous year.
one in every 2,315 homes in San Jose go through foreclosure. There is currently 986 properties in San Jose, CA that are in some stage of the foreclosure process. Below is a list of the top five zip codes in San Jose, CA that are experiencing the highest foreclosure rates:
Data provided by RealtyTrac
In general terms, fewer than 1% of lawsuits ever actually see a trial. In most cases, lawsuits are settled when the parties can agree to reach a resolution that is mutually satisfactory. Parties are free to settle a lawsuit at any time, and between any of the steps previously listed. In many cases, settlements can be reached even before a preliminary injunction hearing is held.