San Diego Real Estate Video Blog with Joe Mendoza

How Does the Foreclosure Process Work?

What happens if you fall behind on your mortgage payments? I’ll go over the default and foreclosure process today.

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We are starting to see a shift in the market. As rates go up, prices come down. Some folks are starting to get a little behind on their mortgage payments, which could cause them to enter a default or foreclosure situation.

This information mainly pertains to California, as each state is a little different.

Come up with an action plan and find out if you can do a short sale.

In California, the lender can decide whether or not to start the foreclosure process. If you get behind on your payment, the first formal step the lender will take is to issue a notice of default, or N.O.D. The letter will let you know that you are behind on your payments and that they are starting the foreclosure process.

If you cannot cooperate and make the current payment due to a life situation, such as loss of job or loss of a family member, then you have a justifiable hardship. In that case, you have 90 days to cure the notice of default. If you cannot do that, you will receive a notice of trustee sale. When that is recorded on your property, things get really serious.

The trustee notice of sale is recorded at the county office, so the county knows that the foreclosure process has begun. If you cannot catch up on all of the payments, which include any penalties or attorney fees, within 21 days, then you really need to come up with an action plan to get out of that property or do a short sale.

Hopefully, you won’t make it to this last step. However, if you are unable to make your payments current within 21 days, a sheriff will knock on your door to escort you and your family out of your property.

Do not let it get to this step. If you are struggling with your mortgage payments or know someone who is, give us a call. We would be glad to help you come up with a plan that is best for you and your family.

As always, please do not hesitate to reach out to us with any other real estate questions. I'd be happy to help.

A Few Things to Know About Me

Today I wanted to take a brief moment to answer one of the most common questions I receive about myself and my career: “How long have you been in real estate?”

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I actually started in real estate when I was about 18 years old. I was a senior in high school and began taking night classes to become a real estate professional, and I’ve been a real estate broker for close to 20 years, and all-in-all, have spent about 30 years in real estate.

Time doesn’t necessarily justify experience.

Time doesn’t necessarily justify experience. However, I have thousands of transactions under my belt, from first-time buyers to multi-million dollar properties, apartment complexes, land, syndications, and fix-and-flips—you name it, I’ve worked with it. There is over $100 million worth of transactions in my real estate portfolio.

I have a proven track record in this field. Much of my business is referral-based, meaning that the reviews that you read online, the opinions of your neighbors, and the information you read when you Google my name is true and proven through my exceptional service to the community.

If you’re looking to sell a home, I will help you get the most money out of the sale, and if you’re a buyer, you can be sure I can get you a great deal.

If you have any real estate questions or you’re looking to buy or sell a home, please give me a call. I’m always happy to help.

3 Ways to Find a Great Real Estate Deal

Your path to finding a great deal in real estate starts with doing one of these three key objectives.

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Want to buy a home? Search all homes for sale.

If you’re a buyer or an investor, there are three ways you can find a great real estate deal for yourself.

First, talk to homeowners and landlords. This includes folks who already invest in things like commercial property and apartment complexes. Talk to a lot of them.

You have to make offers to put together a great deal for yourself.

The second thing you can do is send mailers to existing homeowners, landlords, and anyone else who owns property notifying them that you’re interested in buying their property.

Lastly, make a lot of offers. It doesn’t matter if the property is on the MLS, LoopNet, or not on the market at all. You have to make offers to put together a great deal for yourself.

If all else fails, just contact me if you’re looking for a great real estate deal. Finding great deals is what I do for my buyers and investors.

If you have any questions about this topic or anything else related to the world of real estate, don’t hesitate to give me a call or shoot me an email. I’d be glad to lend a hand.

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Joe Mendoza has been involved in real estate for over 20 years. He has been a Real Estate Broker, Investor, Consultant, Advisor, Mentor, Managing Partner, Acquisitions Manager, and a Nationwide Coach. At present, he is President of the Joe Mendoza Team, Inc. San Diego, California. Mr. Mendoza also is an Executive Real Estate and Business Coach for Tom Ferry Your Coach, based in Newport Beach, CA.

Mr. Mendoza has a long track record of success. While at Prudential California Realty, he ranked as high as the Top 1% in the nation and was number 7 in all of San Diego County. He built a team of 2 full-time employees and 5 licensed associate agents.

Joe Mendoza
CA BRE # 01234540
Katcam Real Estate
100 E. San Marcos Boulevard, Suite 400
San Marcos, CA 92069
Toll-Free 24/7: 877-794-5227
Direct: 619-246-4663
joe@joemendoza.com
JoeMendozaTeam.com

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We Specialize In These San Diego Area Communities

Bonita - Carlsbad - Carmel Valley - Chula Vista - Coronado - Del Mar - El Cajon
Escondido - Imperial Beach - Jamul - La Jolla - La Mesa - Mira Mesa
Murrieta - National City - San Marcos - Poway - Encinitas
Rancho Santa Fe - Clairemont - Point Loma - Oceanside
Temecula - Tierrasanta - San Ysidro - Vista

Spring Valley - Santiee - Solana Beach - Cardiff - Rancho Bernardo - Del Cerro
College Area - CIty Heights - Scripps Ranch - Eastlake - Del Sur - 4S Ranch
Santaluiz - Black Mountain Ranch

What our clients have to say

"Joe is very professional, works efficiently is a great communicator. Joe came ready with a ton of information that helped us make a decision. He was also the first one to respond to our needs. Joe is very helpful, knows his stuff and it was a pleasure working with him."

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"As a first time home buyer, I was very lucky to have Joe on my side and walking me through the whole process. He was great at explaining everything, patient, prompt with responses, and great at negotiating through any obstacles that came up along the way. I would recommend him to anyone looking to get into the real estate market, or anyone who wants an agent who really cares about your plans, your goals, and most importantly your hard earned money that you're investing. Thanks Joe!"

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testimonials from happy clients

Mei -“He helped sell one of our homes and was able to sell it quickly, and we’re very happy with that result. He’s a pleasure to work with and he has been in the business for quite a long time, so he knows the ins and outs.”

Jeanette -“So, we were selling my home and at the same time we were looking for another home to move into. And he had to go through and put in a whole bunch of bids to different homes. Every time we’d email him and say ‘Hey, can you look at this?’ or ‘Can you look at this?’ he was just patient, all over it. Going through and putting in the bids, talking to us about what his recommendations were, what he thought, and then he just really went above and beyond with that whole experience. He made it like a very seamless experience for us. He’s very down-to-earth, great work ethic, and he puts the customer first.”

Marle -“He’s been a high school friend so he's been our go-to person whether we’re selling or buying and we’ve been through several of those. He’s always been my husband and I’s go-to person. We don’t look anywhere else, he’s our realtor. He is always there the moment I text or call him. The response time is amazing. I don’t have to wait five minutes and he’s calling me back. He’s always above and beyond. There’s never a time I’m waiting for him. Joe is very reliable and he will do anything and everything for his clients.”

Evelyn -“I want to let you know that Joe Mendoza is such a wonderful agent. He is so pleasant and so knowledgeable. If you call him or text him or send him an email he will respond right away. He is such an asset to the real estate business.”

Andy -“He went above and beyond in 2000. In 2000, one of his first home sales mine. I was one of his first clients and he actually sacrificed, maybe I shouldn’t say this, because he actually sacrificed some of his commission to ensure that I was happy. I had a termite infested pergola, like a backyard patio, and we didn’t catch it during the sale and inspection. And so I complained about it and he actually, to keep me happy as a client, he actually refunded me part of his commission. And at the time it was $500, I thought that was a lot of money at the time and I was one of his first clients. After that incident, I felt bad I took money out of him as one of his first clients, but he kept the customer happy and I alway refer people to him, I said there’s no other realtors I would go to beyond him. I tell them that he’s honest, fair, he’s smart and he has the experience in a difficult challenging industry and they’re getting one of the best when they hire him on.”

Elliot -"I met Joe about 15 years ago. He was living in the same area as we were and I met him, he told me he was in the real estate business and he seemed like a very trusting individual. Well, we wanted to sell it (the house) quickly, so by the time I contacted him within two days we had the For Sale sign up. Offers started coming in, he listed very quickly. So, he moved very quickly. I would tell people he is very knowledgeable. He;s been in the business over 20 years, over 25 years I believe, but the main thing is he is very trustworthy. He’s always smiling and laughing so he’s a pleasure to be around as well."

Margaret -"Joe, would, one, actually listen when I had an issue or come up upon a situation that I haven’t had before in my short term experience as a realtor and he’s been a realtor for twenty years, plus. So, he listened, he understands, he also is a fantastic problem solver. He’s also very motivating. He always has words of encouragement and can guide you in the right way. Through his coaching, he has given me discipline with a schedule. He’s made me understand the value of offering an abundance of not only experience and information but customer care. I was previously focused on my education so I had a lot of knowledge about my area of expertise, but I didn’t know how to showcase that. So, Joe helped me find my path in marketing and how to network, and how to make phone calls, scripts, what to say, that way it showcased the value in the information that I was providing clients so that I can build that long term rapport. It’s not just a one-on-one transaction. We are trying to build relationships."

Liz -"He is always upbeat and always positive. He is direct without being very direct, you know what I mean? He does not beat around the bush and he delivers his message very nicely. He’s been valuable for my mindset and his positive attitude has definitely rubbed off on me. He;s helped me to look at the positives even when I am going through something that is difficult and that has really helped me tackle my business no matter what’s going on. I am keeping focused, keeping positive, and getting the job done. I’ve already recommended him to several colleagues of mine and I tell them that I can’t imagine not having him as a coach for the rest of my career. I feel like we’re a team and he has helped my business tremendously. So, since I have been in coaching with him my business has grown."

Sabrina Rodriguez -"It was an awesome experience. My husband and I were very pleased working with him. He was very efficient in finding homes for us to look at. Every time I would text him any little question, it could have been late or a weekend, and he was very prompt in responding. He was basically on call at all times with us. If anybody is looking for a good agent I would definitely recommend Joe."

Jonathan -"The results were great. We got our first home. It’s exactly what we wanted and in a great area. It’s something for me and my family, we can see ourselves grow in and it’s just what we needed so it’s perfect. We were looking to buy a house last year and when we reached out again he remembered our whole situation and he remembered the name of my daughter. He just makes you feel at peace and comfortable in a difficult situation. I think he’s a great guy and a great realtor and he’s going to continue his success."

Jennifer -"Oh, I got great results. I met him on a Sunday morning and he said, “I bet I can have this house sold by Tuesday,” and he did. He’s very personable. He really listens to me. He’s a great guy doing a great job. He is definitely in the right profession. He is a wonderful people person. My whole experience with him was like that and if I write that he is awesome in an email or something he writes right back, “Thanks so much!"

Luis -"Working with Joe and the team was great.I was able to meet with him on Friday, we put the house up for sale and by Sunday night we had several showings and two offers. He and his team were really on it as far as letting me know what’s going on and I liked everything being online. It was a good thing for me. It was great to sign the docs online for the most part. He and his team overall were great. Everyone has different responsibilities for the transaction and I think overall the communication was great."

Myron -"The results were exactly what my wife and I expected. He was very diligent and very thorough with explaining things that we were unaware of, but most importantly he was able to prioritize exactly what we wanted so the results were beyond what we expected. We needed an inspection and he was able to be at our place for the inspection for what I believe was a duration of three hours so that right there showed us that he was dedicated to making this experience complete and stress-free for us."

Jim -"We had to sell our home due to a divorce agreement and we were looking for a real estate agent. I heard of Joe from some of our friends so he was one of the agents that we interviewed. Eventually, we had him deal with both, the sale of the house and also the purchase of the house I am currently in. I was really upfront with him at the time and I told him exactly what we needed and he was able to come through. I was expecting at least three months of being on the market and we were in fact on the market for about two weeks before we got the first offer. That was pretty good for us!"