Foreclosure attorney Rancho Cucamonga
Foreclosure in RanchoCucamonga , California, is a legal process in which an entity that has issued a mortgage takes possession and/or ownership of the property that secured the mortgage because the individual who took out the mortgage has consistently failed to make payments on the mortgage, according to the California Department of Finance. Most of the time, the property in question is a house. When customers are faced with the prospect of foreclosure, it nearly invariably involves the purchase of a home. If the bank takes possession of the property, it will often auction the property to try and recover the balance of its mortgage debt as quickly as possible. Banks typically seek to sell the property as quickly as feasible and for the highest amount of money possible. Foreclosure by judicial sale is an option available in all 50 states, including California, for debtors who default on their mortgage payments. This gives the bank the ability to sell the property with the assistan