Missing a payment on a home mortgage starts a process that is extremely worrisome for homeowners. California foreclosure law has a timeline wherein the first payment missed starts a foreclosure clock that goes through a series of steps that lasts 200 days, sometimes a little more. In many cases, the lending institution will send a reminder on the missed payment, and it can be made up in the next month’s payment, a double payment. But that is very tough for almost all people, and it includes late fees and interest.
The missed payment can be from very legitimate reasons. A lost job. A serious illness. A family emergency. Or the payment couldn’t be set aside for some real reason.
And it is a very smart idea to talk to a foreclosure attorney like Patricia Rodriguez at Rodriguez Law Group, Inc, as soon as you know you’re in the foreclosure timeline.
In California, since the 2008 housing crisis, the amount of foreclosures rose steeply up to 2013, then started dropping. But, 12 years later in 2020, homeowners in California are still facing high foreclosure numbers.
In California today, in 2020, 1 out of every 2,744 homes is foreclosed on. That is the average across the state. In some counties that number is more than double. The 5 counties in California currently with the highest foreclosure instances are Kern County, Sierra County, Trinity County, Butte County and Modoc County.
Kern county is in southern California, fairly near to Los Angeles County, and Ventura County which are in the mid range of foreclosures – meaning there are quite a few. And Riverside County is in the high range of foreclosures.
All this points to the fact that foreclosures in California are still a frequent event, and are still the most devastating setback a homeowner can experience. This is all the more reason to quickly contact and talk to a legal professional who is very experienced in stopping foreclosures through California law.
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