As many Orange County residents have experienced first-hand, the foreclosure process can be a difficult one.  Sometimes Orange County homeowners purposely do not pay their mortgage, so it really can be no surprise when the bank takes their home back.  Other times, however, a homeowner does not deliberately set out to not pay their bills and ‘get away’ with something.  Either way, banks are required to follow certain legal guidelines during the foreclosure process. A recent San Francisco shows that in 8% of the foreclosures examined, homes were seized from owners who never got a required-by-law default notice.

Furthermore, in 45% of the cases, there was inadequate documentation that a lender actually owned the mortgage for a home it was repossessing. In 75% of the cases, flaws cropped up in the transfer of mortgages from original lenders to investors acquiring the loans.


{Graph shows % of loans with one or more irregularities}

This means that in all of those cases, the home’s seizure may have been invalid.  Additionally, the key finding of the study, released this week, was that 84% of foreclosures violated state law in some respect and irregularities occurred in 99% of the foreclosures.

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Cheryl Marquis has been an active and successful real estate agent in South Orange County, California for more than 25 years. As a TOP PRODUCER in her company, Cheryl has received the specific accreditation of a Certified Relocation Specialist (CRS) and Accredited Buyers Agent (ABR) and is a member of the Who’s Who of Luxury Real Estate, a select network of the world’s leading luxury home agents. A member of C.A.R. (California Association of Realtors), N.A.R. (National Association of Realtors) and O.C.A.R. (Orange County Association of Realtors). To talk to Cheryl about buying or selling a home in Orange County, call her at 949.683.1501 or visit her online at