Foreclosure notice of default in Washington, DC – what it means?
If you’ve received a foreclosure notice in Washington, DC of default and would like to know what is going on, keep on reading.
A foreclosure in Washington, DC is a notice of default document that has to be filed by a lender to start the foreclosure process.
The notice of default must be sent to whoever has an interest in the property (any other lenders, loan holders, or even contractors who are owed money for work done to a property will get a copy).
The foreclosure notice must also be published in a local newspaper and posted in a prominent place on the property itself.
This can be embarrassing to anyone going through foreclosure, but it’s a very important protection for consumers.
Before US law required a notice of default, individuals were often foreclosed on without any warning.
It has happened even in the past few years – at least one bank accidentally foreclosed on the wrong property and kicked people out of their homes without due process. It’s even happened around Washington, DC.
The notice of default is an important step within the foreclosure process that gives individuals with an interest in the property to come forward and claim their rights.
If you’ve received a notice of default, don’t wait. Time is of the essence, and you should take action fast.
Here are a five key steps you should take:
1) Don’t panic and stay calm.
Anyone in foreclosure is dealing with a lot of stress other than just the property. The situation didn’t happen overnight, and they take a while to resolve. You’ll get through it by practicing good coping techniques and taking care of yourself and your family. Panic causes bad decisions, so stay calm.
2) Educate yourself.
Learn what you can about the foreclosure process in Washington, DC so that you know what’s happening and what’s coming up next.
3) Gather your resources.
There’s are many non-profit and government resources available out there for free. You definitely want good legal and tax advice along the way. Don’t try to do it all yourself. The process is super complicated with lots of rules.
4)Find out your options.
We’re here to help you stop your foreclosure. We buy houses with cash. We can help you with short sales and even rent-back situations so you (potentially) might be able to keep living in your home. There are alot more options than you think.
The banks do not want your property. They want money, and listen to what you say. You can slow down or stop the foreclosure process if you take the necessary action.
Want to know more?