Owning a home is part of the American Dream. When you are faced with the threat of foreclosure, it can feel like everything you’ve worked so hard for might be taken away by the bank or lender.

Thousands of homeowners find themselves in situations where they are unable to make their mortgage payments—whether because of an economic downturn, an illness, or a job loss.

We know how scary the prospect of losing your home can be, especially if you have young children. If you’re facing foreclosure, you have options. Foreclosure sales can be stopped and you can save your home. Banks and lenders count on you not knowing your rights or think the stress and anxiety you feel will prevent you to Act.

You don’t have to face this threat alone. Our experienced California foreclosure defense attorneys can help you understand all your options. Keep reading to learn about your rights and how we may be able to help you.

What Is Foreclosure?

Foreclosure is the legal process that allows a lender to sell a property when the borrower falls behind on their mortgage payments.

If you fail to make payments, your home can be sold by the bank or lender without your approval, outside of court through a process called “non-judicial foreclosure.” When your home is sold this way, the bank or third party will legally purchase and own your home, and you can be evicted from the home. Most foreclosures in California are non-judicial.

Under a “judicial foreclosure,” your home cannot be seized without a court intervention. The bank or lender must file a lawsuit to get a court order to sell the home. Judicial foreclosures are rarely used in California.

If your home is in danger of foreclosure, don’t wait. Call our foreclosure attorney today for a free consultation. We will assess your situation and help you understand all your options.

How to Avoid Foreclosure

The prospect of losing your home can be frightening, but you have options. Our experienced foreclosure attorney will evaluate your situation and help you figure out the best plan to defend against foreclosure. Here are some of the possible options:

Chapter 13 bankruptcy – Sometimes referred to as a “reorganization,” a Chapter 13 bankruptcy allows you to create a 3-5 year repayment plan for the mortgage payments you are behind and prevents the bank or lender from proceeding with foreclosure. Chapter 13 is a good option if you believe you will be able to make all the required payments throughout the bankruptcy term. Other remaining debts may be wiped clean at the end of the term.

Other possible options include:

Loan Modification – A loan modification adjusts the terms of your loan to make the payments more affordable.

Short Sale Negotiation – This involves selling your home for less than what you owe on the mortgage to avoid foreclosure or bankruptcy.

Wrongful Foreclosure Litigation – If a lender fails to follow proper foreclosure procedures, you may be able to bring a legal case against them to stop the foreclosure.

Deed-In-Lieu of Foreclosure – This involves voluntarily signing over the property to the lender to avoid foreclosure, and it’s usually done when the loan amount far exceeds the property value.

Reinstatement – This means paying what you owe, plus any fees, to bring the terms of the loan up to date.

Mortgage Forbearance – These programs allow you to pause or reduce your payments for a limited period of time, but they don’t erase the debt. You’ll have to repay missed or reduced payments in the future.

Our knowledgeable foreclosure attorney can explain these options in more detail and help you decide which one may be right for you.

Do You Need a Lawyer?

It’s hard to know where to turn when you’re faced with the threat of foreclosure. An experienced California foreclosure lawyer can help you maximize your chances of saving your home—and help you avoid pitfalls that could cost you precious time.

The best course of action depends on your situation. An experienced attorney can help you negotiate with your lender, get your monthly payments reduced, or file for bankruptcy, depending on your best option.

The earlier you hire a foreclosure defense lawyer to represent your case, the better your chances of saving your home.