How Long Is It Taking For Banks to Foreclose in Folsom?
Information above is from foreclosureradar.com and shows the average time to foreclose in Folsom CA
Expert Short Sale in Folsom and Foreclosure Option Specialist Forth Hoyt Reports on Foreclosure Time Lines in Folsom.
As a Folsom Certified Short Sale Specialist and Folsom agent who specializes in short sales, I get questions all the time about “how long is it taking for banks to foreclose in Folsom”? “How long does a short sale on a house take?”
The chart above shows three lines;
-The Time To Foreclose; The average number of days between the filing of the Notice of Default and the final Foreclosure auction in Sacramento County that occurred during the specified month-
–Time to Resell; these two graphs chart the average number of days between the final sale at auction and when the property was resold by the bank or 3rd party-
-This graph helps to illustrate one of the most significant benefits of doing a short sale in Folsom– the time it takes to get a bad home loan situation behind you through the foreclosure process has been as high as 342 days!!
That means that the homeowner goes as long as nearly a year without making a payment, twelve months of credit hits… twelve months of negative reporting on the homeowners credit report!
As a short sale agent in Folsom, our average time to do a short sale in Folsom is three to six months on average, sometimes much, much faster: our fastest short sale was closed just 58 days from the time we took the listing to the time the short sale recorded.
That means it is possible to do a short sale and the credit reporting agencies are alerted to the sale without ever having a late payment show up!
That’s 1/3 to 1/2 the time of the Average Foreclosure Time In Folsom!
Want to know about your articular bank? More questions on your particular situation?
Can you qualify for a short sale? Do you have a hardship for a short sale? Can you qualify for government short sale programs?
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What about short sale relocation assistance? Get these questions answered here at Forth Hoyt’s Sacramento Short Sale Center. Take action, find out more about your options and learn if you are eligible. If your situation is urgent, or you have further questions, feel free to Contact us Today At Forth Hoyt’s Sacramento Short Sale Center
