Foreclosure Effects In Los Angeles CA – What Sellers Need To Know

Jul 22, 2016 | Sellers, Short Sale Information

Foreclosure is a nightmare to any family going through it irrespective of the reasons why they are about to lose their home. Today we are going to look at the foreclosures effects in Los Angeles CA and what local house sellers need to know. First we will look at the effects and the ways of easing them.

Foreclosure Effects in Los Angeles CA to Sellers

  • Loss of your home – Pretty self-explanatory here. The major end result of a foreclosure in CA is of course the loss of the home to the bank.
  • Decrease in Your Credit Rating – Your credit rating will be lowered by the foreclosure. How much? It depends on how high your current credit score is… but the higher your current credit score… the more your score will drop after a foreclosure. If you have a credit score of 680 or higher… you may see a drop of 100+ points.
  • Depression and Stress – Your mental health is at stake because of the high pressure situation. Going through a foreclosure is emotionally exhausting and frustrating to say the least.
  • House Values In Your Community – Another one of the big foreclosure effects in Los Angeles CA is that they tend to lower the overall value of the houses in your neighborhood… especially if there are multiple foreclosures in the immediate area.

How You Can Ease The Effects Of Foreclosure In Los Angeles

For the well being of you and your family, you need to mitigate the effects of foreclosure as much as you can. The process can be frustrating and time consuming, but there are people who can help you navigate your different options in the process.

First…

  1. Call your bank and work with them:  Most banks are very willing and ready to work with you… if you can show that with their help you can get back on track and save your house.  Or, if you just want out of the house but you owe more on the house than it’s worth… see if the bank has any programs to lower the mortgage burden so you can get out from underneath it without it going through an expensive foreclosure.
  2. Talk with a local real estate expert, like John Medina Buys Houses: We know the local Los Angeles real estate market well and are very experienced in the foreclosure process here in CA.  Give us a call at (310) 928-9688 and we can guide you toward the resources that can possibly help you.
  3. Sell your house: If you’d rather find a way to sell your house and avoid the foreclosure all together, great! We buy local Los Angeles houses for cash… and would love to look at your situation and make you a fair all-cash offer on your house.  Just call us at (310) 928-9688 or shoot us your details through this website

With the above knowledge on foreclosure effects in Los Angeles – what sellers need to know, you can guard yourself by calling John Medina Buys Houses at (310) 928-9688 and we shall assist you in the shortest time possible to sell your house. However, to fast track the process, kindly fill out our website contact form to give us more information about you. We’d love to connect with you and help you find the best solution!

Let Us Give You a Cash Offer on Your California House!

Fill Out Our Online Form

First things first, reach out to us. When you visit our website, make sure to fill out our short online form and include all the essential details, such as your name, address, and contact information. Alternatively, you can also call us at (310) 928-9688 to learn more about our services and share your information with us. From there, we’ll handle everything else and get the process going.

Get Your Cash Offer

Once we’ve received your request for a cash offer, we’ll get back to you and schedule a convenient time to inspect your house. We’ll do a thorough walkthrough to gauge the condition of your house and provide you with a fair and competitive price. Keep in mind that this is not a showing. You don’t need to decorate, clean up, or repair your home before our visit. We are more than happy to buy your property in whatever condition it may be, good or bad. .

Why Wait? Get Paid Now

If you’re happy with our offer, we can set up a closing date at your next available time and you will receive your payment then. It’s as simple as that!

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