BANK FORECLOSURES 

When the mortgagees are not able to pay the debts of the properties and simply stop paying the debts rather than seeking a chance to a short sale or other legal procedures to duly deal with the properties on debts, the lenders, most of the conditions, the banks will evict and foreclose the properties.

 

The foreclosures can lower the owners' credit scores by 200-300 points. The foreclosures will stay on the owners' credit reports and public records. After the foreclosures, the owners are prohibited to purchase properties again in twenty-four (24) to seventy-two (72) months.

 

The procedure of the bank foreclosures are:

1. Notice of Default;

2. Legal Filing;

3. Notice of Foreclosure sale; and 

4. Public Sale.

 

When you want to buy a piece of bank foreclosure property, we are ready to assist you.