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What May Be Influencing Your Foreclosure?

zoning restrictionWhen a house is foreclosed, the reasoning behind it seems simple enough. The purchaser of the home was unable to afford the property and it was re-possessed by the bank or mortgager. However, a number of foreclosures in the United States has risen substantially enough to be concerning. In 2013 alone, one in every 96 homes reported one foreclosure. This prompts the question: what may be influencing this increase in foreclosures?

Lack of knowledge regarding the foreclosure process
One of the possible reasons behind the number of foreclosures is that homeowners aren’t familiar with the foreclosure process. Did you know that the state of California, for instance, has laws that regulate the opportunities and notices given to homeowners? This gives them a chance to pay the bank or mortgaging company before their property can be sold. Sadly, many homeowners are unaware of these opportunities.

If you’re unable to pay the mortgage on your home, you are also able to apply for forbearance before you go into default. Be sure to contact your bank or mortgaging company to consider your options before filing for foreclosure.

Zoning restriction
A zoning restriction, or zoning, is the division of a municipality into areas in which land can only be used for certain things such as residential use, farming, etc. While a zoning restriction is common enough, it may also have factored into the foreclosure crisis.

According to Tenants Together, “communities that zoned too strictly for the development of large, single-family homes have a higher risk for foreclosure when compared to areas that accommodate a broader spectrum of housing options.”

In other words, if too much housing is placed in the same high-price zone, then homebuyers who are unwilling to move elsewhere are forced to purchase a home they cannot afford only to fall to foreclosure within a series of years.

Failing to hire a real estate attorney
While not everyone needs an attorney, they can be highly beneficial, especially during real estate law cases such as a foreclosure case. A real estate attorney knows how to utilize evidence to its fullest extent and if anything was tampered with or illegally obtained, an attorney is more likely to notice and will be able to argue on your behalf. Without an attorney, your case may easily be lost.

Foreclosure is a difficult process. Ease your stress by keeping yourself informed about the legal process. Hire a real estate lawyer to help reduce anxiety during your case, and know you are not alone.

24

4 Common Eviction Myths Busted

eviction caseIt’s finally happened. You’ve been evicted. What now? If you’re undergoing an eviction case for the first time, the process can become notably stressful because you aren’t sure what to do. Do you pack up all of your things as soon as possible? Will your water be shut off? Do you have to leave the building as soon as you see the eviction notice?

Fear often leads to incorrect conclusions regarding eviction. Be sure that you make yourself knowledgeable about your rights as a tenant before you panic and do something you may not necessarily need to do right away. Here are some common eviction myths busted for your benefit.

Myth #1: You need to move out as soon as possible
To be evicted, you must first be given a written Notice of Termination by your landlord. Whether or not you’ve been evicted with a cause, your landlord must give you a 60-day termination notice, or at least a 30-day notice. They cannot kick you out immediately. The one exception to this rule is the 7-day eviction notice, which can only be issued against you in the case of an extreme breach of the renter’s agreement.

Myth #2: My landlord can turn off my utilities at any time after the eviction notice
Your landlord cannot legally turn off your utilities before you have moved out. This is considered harassment and a landlord can be made to pay you compensation if taken to court.

Myth #3: I can’t challenge my eviction
If brought to court, a judge will hear your eviction case within twenty days of the trial request. But, if the tenant hasn’t been directly named during the case or in the initial complaint for eviction, the tenant has the ability to challenge the eviction during the case or even after judgment has already been made.

Myth #4: There’s nothing I can do if I’ve been evicted because of foreclosure
To evict a tenant in California who has lived on the property for more than a year, the new landlord of a previously foreclosed building must procure a 60-day vacation notice in the event of eviction. If the tenants have a monthly lease the new owner must begin the eviction process with a 90-day notice.

Additionally, tenants can file for a Request for Notice — obtained through a title company — at a local county recorder’s office. This will keep the tenant up to date during the foreclosure process of their building.

If you’re a tenant in California, according to California Courts, “eviction or rent control laws” are there to “prohibit new owners from using foreclosure as a reason for evicting tenants.”

In the likelihood of your eviction case being taken to court, consider hiring a professional California real estate lawyer such as those in DiJulio Law Group, for a smooth eviction process with less stress on your shoulders.