If you live in Santa Rosa, California, and are behind on house payments, the mortgage lender may be threatening foreclosure. If this is the case, you probably want to do everything you can to keep your home. An option is to apply for a loan modification, an agreement to change the terms of your mortgage loan so that it is more affordable to you. This can involve lowering the interest and monthly payment or extending the length of time you have to pay it off. Another option is bankruptcy, which causes an automatic stay that immediately stops the foreclosure. To find out which option is best for you, contact an experienced foreclosure attorney like David P. Gardner. He can help you evaluate your options clearly so that you can make the best possible decision.
Foreclosure Requirements in California
To start a foreclosure in California, the mortgage lender is required to contact the borrower 30 days before recording a notice of default, which is the action that starts the foreclosure process. After this, the borrower will receive a notice of sale. This means that the lender is planning to sell the house to someone else. The sale itself can’t take place until three months and 20 days have gone by since the default notice. If you’re able to catch up on the payments during this time, up to five business days before the sale, you can reinstate the mortgage to stop the foreclosure. It’s sometimes possible to buy your home back after foreclosure, too. A foreclosure attorney will clarify the choices you have in Santa Rosa, California.
Call to Speak to a Foreclosure Attorney Today
If you’re facing foreclosure or bankruptcy, it’s important to be fully informed. The David P. Gardner Law Firm is dedicated to helping you find the best option for your needs. To schedule a free consultation to speak with a Santa Rosa foreclosure attorney, call (707) 658-4460 today.