Many states reported a decrease in the amount of finished foreclosures, California being one of them. However, this does not mean that they are not still happening, simply that there are delays in the process. In fact, reports show a rise in the amount of foreclosure proceedings that have been started this January. Experts believe that there are many foreclosures that will be completed once the delays are worked through, and not even a rising market can prevent them.
In California, Homeowners are protected by the newly enacted Homeowner’s Bill of Rights. Under the new law, banks must comply with certain procedures in the mortgage modification, and foreclosure process. If a homeowner has been foreclosed at any time after January 1, 2013, they should not hesitate to contact McCarthy Law to have their case evaluated by an attorney to determine if there has been a violation of their rights.