Unfortunately, foreclosure is not uncommon across the country in the United States. In fact, in 2013 alone nearly every one in ninety six homes was foreclosed. It typically takes only just over a month to foreclose on a home in the state of California, and these homes can sell for nearly $400,000, if not more. Statistics show that nearly one in every 200 homes will be foreclosed upon at some point, but it’s important that those at risk of foreclosure know their rights.
For instance, in the majority of eviction cases, at least for the state of California, a judge must hear the case within less than a month after it reaches a court room setting in the case of a real estate dispute, and those in danger of eviction are entitled to have their cases seen in a court room if they feel that it is necessary. It is also important to note that in cases of foreclosure it is imperative that the homeowners be given plenty of notice and chances to make the necessary payments before their home is foreclosed on.
Many of these rights apply to renters, as well. If a tenant has lived on a property for more than a year, the landlord is required to give them nearly two months – 60 days – of notice before formally evicting them in the state of California.
Those looking to purchase a home also have rights that must be met before they make their final purchase. In the state of California and in other places around the United States, it is illegal for a real estate agent to refrain from disclosing a death if that death took place on the premises in the prior three years. Real estate law terms also state that the majority of homeowners – nearly 80% – will conduct an inspection before making a final purchase, so it is in the best interests of the real estate agent as well as the real estate company to make sure the home is in good condition before it is put on the market.
The foreclosure process can be emotionally as well as physically taxing, and it is important to know your rights as a homeowner. Know what you are entitled to, both when you buy a home in the first place and in the unfortunate event of a foreclosure.