A foreclosure begins when the lender on a piece of property has not received a mortgage payment. The lender will then take steps to recover the money owed. If that fails, then the lender will take back the property. The process is specified by state and federal laws.

First: A Payment is missed.

Second: Anytime after the 15th day a payment is missed the Notice of Default is recorded/filed.

Third: Begin Reinstatement Period (starts 35 day period)

Fourth: Day 36 begins the Redemption Period (starts on the 36th day from Notice of Default)

Fifth: Day 71 begins the Publication Period. Notice of Trustee Sale is recorded/filed.

Sixth: Notice of Trustee Sale is the final 21 days prior to the Trustee Sale

Seventh and final: Trustee Sale Final Eviction, HOME SOLD No Right of Redemption

Options prior to Trustee Sale:

• Sell home/ save equity
• File Bankruptcy
• Pay entire loan amount

Summary

Missed Previous Months Payments. Beneficiary notifies Trustee to start a foreclosure.

Notice of Default is prepared, recorded, published, posted and mailed to all concerned parties. Trustor has 35 days from mailing of the notice to reinstate the loan including all expenses.

36th Day Once the reinstatement period has expired on the 35th day, the Trustor enters the second phase of the foreclosure process and the entire amount of the loan is due.

Notice of Trustee Sale. Approximately 10 days before the three months has expired, the trustee will began publication of the Notice of Trustee Sale for three consecutive weeks and posted in 2 public places giving notice to Trustors their home is going to sale.

Trustee Sale is held on the exact say stated in the Notice of Trustee Sale. The sale deprives the homeowner of all rights, title and interest in the property. If there are not bidders at the Trustee Sale, the property reverts back to the lender as an REO. If there is a successful bidder, that person becomes the new owner and has immediate rights to the property. If the occupants refuse to move, legal action will be taken to have them evicted.

Final Eviction By law, homeowner will be evicted from the property. There is no right of redemption.

We are here to Help! We Save Homes from Foreclosure!

Avoid Foreclosure through Short Sale

Do You Owe More Than Your Home is Worth?
Recent Federal Regulations Give Homeowners Choices/Options.

Are you experiencing any of the following:

1. Financial Hardship?
2. Shortfall in Monthly Income?
3. Insolvency?

You May Now Have A Better Way Out.

1. Explore the option of a short sale for your property
2. Avoid Foreclosure
3. Save your credit and years of unnecessary hardship

The Klinger Real Estate Group short sale agents will analyze your information and situation, and will explain your options available to you under recent changes to Federal guidelines and regulations.

LOAN MODIFICATION SEMINAR-AVOID FORECLOSURE HELP
If you or someone you know is thinking about doing a Loan Modification or Short Sale you owe it to yourself to attend one of our FREE Loan Modification Seminar. We are holding these FREE LOAN Modification Seminars every month at our Main office 2230 Corporate Circle #250, Henderson, NV 89074.  Please email or call me for the next available seminar dates.

If you missed these dates and need answers. Feel free to call us. We will make arrangements for you to get the assistance and the answers to your short sale questions.

In a recession like this, you may find yourself unable to keep your home. If you owe more than the current market value, and you are struggling due to a hardship, a short sale may be your best option. A short sale is a highly involved transaction where the lender(s) allow(s) a homeowner to sell his or her property for less than the amount owed.. A short sale can help avoid foreclosure, protect your credit score with a lesser impact than a foreclosure, and can free you from your home’s financial burden.

The Klinger Real Estate Group is comprised of experienced, professionally trained REALTORS® with successful track records negotiating and closing short sale transactions with many different lenders. We negotiate short sales on behalf of many local area REALTORS® due to our experience and success. Need Help? Sign up now!

If you are in need of help, contact us right away. Time is not on your side. The sooner you contact us, the more you increase your chances of a successful short sale. If your are currently in a loan modification and you feel that it may not be working due to: late payments, reduction of income, debt to income ratios, lack of lender response, etc. you may want to consider placing the property on the market as a back up alternative. Many time we receive calls from homeowners whose loan modification has failed. Usually the loan modification process consumes most of the foreclosure timeline. This leaves very little time to list, market, and obtain a good faith offer to submit to the lender.

Now more than ever, you need a team with experience and proven success. You need the Klinger Real Estate Group, a division of KELLER WILLIAMS REALTY THE MARKETPLACE of Henderson, NV. We service the entire Greater Las Vegas Real Estate Markets including Boulder City, Henderson, Lake Las Vegas, Las Vegas, and North Las Vegas. Get Help Now!

Henderson celebrated its 50th anniversary in 2003. The township of Henderson emerged in the 1940s to supply the country with magnesium, the “miracle metal” of World War II.[9] Although “born in America’s defense,” Henderson’s future after the war was uncertain until April 16, 1953, when city incorporation papers were signed.