Foreclosure

Foreclosure is the legal proceeding in which a bank or secured creditor sells or reposseses real property due to the owner's failure to comply with the mortgage or an alternate form of lending called a trust deed. In the act of a foreclosure on a trust deed, accroding to the “power of sale” provision, the foreclosue can be nonjudicial, meaning that it does not have to go to court. Commonly, the violation on the trust deed or mortgage is a default in payment of a promissory note.  This situation often results in the property being sold at a public auction with the proceeds from the sale going towards the outstanding balance on the mortgage.

The process of foreclosure is lengthy and the timeframes for when the lending institution begins the process vary from state to state.

How Preferred Default Managemnet Can Help

Our experienced staff will:

• Initiate foreclosure action within 24 hours of receipt of your referral
• Send all applicable foreclosure notices
• Send you a detailed Property Analysis
• Update your analysis and net profit and keep you apprised every step of the foreclosure process
• Confirm your lien position
• Give you names of other lien holders that might pose a threat to your position
• Determine the best strategy for your investment
• Advise you of your options 

            Click Here to initiate the Process