How To Avoid Foreclosure

Since 2013 homeowners in California have had the legal protection of the Homeowner Bill of Rights to prevent foreclosure. This law reformed the California foreclosure process to give homeowners better protection against foreclosures.

More than a million home was sold in foreclosure in California between 2008 and 2011. In most cases, homeowners were not given significant opportunities to avoid foreclosure by the lenders. Lenders were also involved in predatory mortgage servicing without adequate consumer laws to stop illegal practices. On July 11 of 2012, the California Homeowner Bill of Rights was signed into law by Governor Jerry Brown and made effective in January 2013 as SB900.

The Homeowner Bill of Rights made the nonjudicial process of California foreclosures more transparent and fair. The main purpose of the law is to give homeowners protection against foreclosure and also to reform the foreclosure process itself. The goal is to ensure homeowners are taken into consideration at times of financial distress, and given meaningful opportunities to obtain available mitigation options like loan modifications or other means in order to avoid foreclosure.

If you are a California homeowner facing foreclosure, there are certain steps you can take in order to stop those foreclosure proceedings:

  1. You can file a lawsuit under SB 900 (California Home Owner Bill of Rights) and get protection from foreclosure. An order must be signed by a judge to stop a sale.
  1. You can file bankruptcy – Either Chapter 7, 11, or 13, and stop foreclosure instantly upon filing.
  1. You can apply for some type of assistance to help avoid the foreclosure and keep your home. While loan modifications are under review, the foreclosure proceedings are suspended.
  1. You can apply for your assistance and ultimately vacate your home – A Short sale and a Deed in Lieu of agreements can suspend foreclosure proceedings.

If you are facing foreclosure and your lender is not giving you options and alternatives, it is a very good idea to call our foreclosure attorney. Our firm is focused on stopping foreclosure using the new laws and reforms that have been put in place to protect homeowners. We are quickly able to create your foreclosure defense strategy and provide the protection you need to immediately stop the sale of your home. Give us a call today and talk to one of our foreclosure lawyers for free; the call could save your home.

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