Ideally, you don’t want to wait until AFTER foreclosure sale to save your home.
BUT— if you missed all the deadlines, you still have a chance to save your home.
California offers a Right of Redemption to homeowners.
What is that?
After a foreclosure sale, you have some time to buy the house back from the person or entity who bought your house at the auction sale.
This would work IF you are able to pay back the debt you owe on the house.
You would pay the debt pack to the lender, HOA, or tax authority who foreclosed on your house.
Here's how long you have to buy your house back after foreclosure during the redemption period in California.
After foreclosure, if you can't buy your house back during the redemption period, you will have to move out.
BUT, whoever buys your home cannot just change your locks to prevent you from getting access.
First, they have to serve you with a 3-day notice to move out. This is called a 3-DAY NOTICE TO QUIT.
If you receive that notice, you have to move out within 3 days.
If you don’t move out within 3 days, the new owner can go through a formal eviction process. This means they will file an eviction claim against you in court to get possession of the home.
The eviction process usually takes several weeks.
AND, if they start that process, there will be an eviction record under your name, which will not look good to future landlords if you are looking to rent a home.
This is especially troublesome after foreclosure, because now your credit will be affected greatly.
If you had EQUITY in your home but it was sold at an auction, it’s NOT gone forever!
You are entitled to collect equity after foreclosure.
You can collect that money (surplus funds) if you had equity in your home after all loans, liens, and costs are paid off.
If your house was sold at auction for more than the amount of the bank loan and any liens and other fees, then you have SURPLUS FUNDS that you can claim.
I created a downloadable GUIDE that shows you HOW TO CLAIM SURPLUS FUNDS in CALIFORNIA after foreclosure.
Click the button below to get this guide if your house was sold at auction:
The Trustee Better Have My Money: Step-by-Step Guide to Claiming Surplus Funds in California After a Foreclosure Sale
We provide free consultations to homeowners after foreclosure to assess their situation and determine if they can collect equity after foreclosure.
We work on a contingency fee basis, so YOU DO NOT PAY US unless we recover the money for you.
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All information is educational only.
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