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 foreclosure effects in Orange County CA, and what local house sellers need to know.
First, we will look at the effects and ways of easing them. As homebuyers in Southern California, we at Homesmith Group know that foreclosure isn’t easy. We buy houses in Orange County California in whatever situation, even in foreclosure.
Foreclosure Effects In Orange County CA To Sellers
- Loss Of Your home – Pretty self-explanatory here. The major end result of a foreclosure in Southern California 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 Orange County 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 Orange County CA
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. People like Orange County CA home buyers at Homesmith Group can help.
- 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.
- Talk With A Local Real Estate Expert, Like Homesmith Group: We know the local Orange County CA real estate market well and are very experienced in the foreclosure process here in SoCal. Give us a call at (855) HOMESMITH (466-3764) and we can guide you toward the resources that can possibly help you.
- Sell Your House: If you’d rather find a way to sell your home and avoid foreclosure all together, great! We purchase local Orange County CA homes 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 (855) HOMESMITH (466-3764) or shoot us your details through this website.
Homesmith Group Can Buy Your House Fast!
With the above knowledge on foreclosure effects in Orange County CA, you can guard yourself and your property. When you reach out to Homesmith Group, we will assist you in the shortest time possible to sell your house in Southern California. If you want, you can sell your property directly to us! We pay cash for houses in Orange County and its surrounding area. You don’t have anything to lose by seeing what we’ll offer on your property.