Paradise Valley houses for sale?

How does a Paradise auction come about?

Paradise Valley houses undergoing foreclosure can either go through the judicial or non-judicial foreclosure process.

For Paradise Valley houses going through judicial foreclosure, the lender first files a foreclosure lawsuit. Failure on the part of the homeowner to respond will lead to the judge granting the lender a default judgment.

If the homeowner responds, the case may go to trial or the judge will file a motion of summary judgment. This means that the judge has decided that there is no genuine dispute about the facts surrounding the foreclosure. Thus, the Paradise Valley houses (or house), will go into foreclosure and the lender will set a date for the auction.

In a non-judicial foreclosure, however, there is no court case. But before the Paradise Valley auction and consignment happens, the lender issues the homeowner a notice of default (NOD) via certified mail. This NOD is also recorded with the county registrar.

The NOD states how much the homeowner owes, including past due amounts, late fees, and foreclosure costs.

The moment a NOD is received, the homeowner typically has 90 days to repay what they owe or work something out with their lender to come up with a repayment agreement, else their house will go into Paradise Valley estate sales & auctions and join the list of houses for sale in Paradise Valley.

Do you have any options?

There are ways out of falling into trouble with Paradise Valley houses. You do not have to wait for your house to be taken away from you. Many homeowners in this position take the option of selling their Paradise Valley houses before they go into foreclosure, and Paradise Valley auction and consignment.

You can do that too!

If you have Paradise Valley AZ houses for sale in the pre-foreclosure stage, we’re available to buy and we are happy to pay cash or negotiate terms with your lender.

So instead of letting your Paradise Valley houses go into a foreclosure where you’ll likely get nothing for all your investment, you can sell them to us, and get out of a sticky financial situation. We buy as-is, we pay all closing costs, and we ensure a fast close so that we’re done with the process before you have to face a Paradise auction.

Contact us today if you have a Paradise Valley house for sale. We will come and check it out with hopes of buying it from you, and we can close the deal in as little as 7days.

We are your direct link, so there are no fees or commissions involved. There are also no inspection or appraisal contingencies either.

Will Foreclosure Hurt Your Credit Score?

Forecloses have a severely negative impact on your credit rating. According to FICO, they can knock off 100 points or more from your credit score. Plus, it stays on your credit report for up to seven years.

That’s not all. The missed payments before the foreclosure also have a negative effect on your credit, thus preventing you from being able to enjoy the advantages associated with a good credit score.

Paradise Valley houses and Foreclosure Sales

You may be wondering if you get to keep profits from a foreclosure sale if your house eventually goes into foreclosure.

If a foreclosure sale yields profits, your lender is not entitled to the excess proceeds that exceed your loan balance, including any fees owed for the foreclosure process.

So any money that is greater than the loan balance and foreclosure costs should go to the borrower.

What if your house sells for less than you owe?

If your house sells for less than the mortgage debt you owed, your lender may decide to file a deficiency judgment against you.

A deficiency judgment is a lawsuit that requests that the borrower pays what is left of the loan amount.

For instance, if you owe $400,000 on your mortgage, and the house sells for only $375,000, the deficiency is $25,000 and your lender may try to collect the outstanding balance from you.

Not all states allow deficiency judgments. Some states have anti-deficiency laws or restrict deficiency judgments after foreclosure. But the state of Arizona allows it. This is only more reason why you should get on the phone with us.

We are available from Mondays to Fridays, and you can give us a call at 480-848-7173, orĀ 337-227-9200, (if you are in Louisiana).

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