The vast majority of mortgage lenders don’t care why homeowners are facing foreclosure, they just want to do their jobs—collecting payment or, if necessary, foreclose on the property. To stop foreclosure in California, you need to focus on exercising your legal rights, and working within the lender’s guidelines to get the sale date placed on hold or cancelled altogether, rather than explaining why you’re missing payments, even if its due to illness, unemployment, divorce, etc.
It’s essential that you seek legal counsel with an attorney who thoroughly understands California’s legal system and can work within the law and with your lender to forestall foreclosure. If you’ve been avoiding the lender who holds your home mortgage, reach out to them now. Sooner is always better than later.
And even if you’re several months behind in your mortgage payments and facing foreclosure, it’s almost always a smart move to put in an application under the Homeowner Bill or Rights, which became law in 2013.
Once the application is submitted, in many cases, California law requires that the lender evaluate the application before proceeding with foreclosure. Other viable options include initiating a mortgage litigation action, short selling and bankruptcy.
In California, bankruptcy typically stops foreclosure. So this is an effective option for most homeowners who haven’t filed a previous case. Also, if you’re willing to consider selling your property, a short sale is often an effective strategy for stopping foreclosure in California too!
We offer prospective clients a free foreclosure consultation. So call us today to set up a time to talk at (888) 728-0044 to learn more about ways we can help you postpone or even stop foreclosure under California law.