However, understanding the timeline and the key steps involved can provide some much-needed clarity and control over the situation.
This comprehensive guide will walk you through the foreclosure process in California, from start to finish, with five to seven phases to help you navigate the information. Here are important questions that will help us in determining where you are in the foreclosure process! Since no two homeowners are in the same situation, you need to strongly consider every strategy before you decide what to do next. Along with this, answer the following questions:
- What has happened in your life that caused your financial hardship?
How many notices have you received from your lender? How many payments have you missed?
- When was the last time you communicated with your lender?
- Has your lender offered any advice on how to stop foreclosure?
Are you comfortable hiring an attorney to provide you with assistance?
- How much do you owe in order to catch up?
- Mortgage $____________ Taxes $__________ HOA Fees $_______
Any Liens placed on the property? - How much equity have you built up on the property?
- Do you have a current foreclosure date?
Do you want to keep or sell your home?
Conclusion!
Nobody wants to face foreclosure, but it’s good to know that there are steps you can take to keep your home. If you implement the right strategy, it won’t be long before you are putting the foreclosure process in the past and making payments as scheduled in the future. But you need to be realistic. If you have been working with the lender on coming up with options to help you keep your home and not really getting anywhere then you might want to think about selling your home and satisfying your debt and moving on with your life.
