What are my rights as a homeowner facing foreclosure?

As a homeowner facing foreclosure in California, you have certain rights to protect you from lenders and foreclosure proceedings. First, your lender is obligated to follow the guidelines set forth by the California Homeowner Bill of Rights. This legislation requires that lenders provide a homeowner with a homesaver advance, which is a loan of up to $10,000 to pay delinquent mortgage payments, and other obligations. Additionally, your lender must provide a single point of contact to answer any questions or concerns you may have throughout the process. Second, if you are facing foreclosure, you have the right to submit a loan modification package to your lender. This package should include relevant financial documents and information, such as income and expenses, that your lender can use to determine whether they are willing to modify your loan terms. Third, you have the right to pursue a foreclosure defense in court. If a foreclosure is imminent, you can file a lawsuit in order to temporarily stop the foreclosure proceedings. This lawsuit may be based on errors in the foreclosure paperwork or other factors. Finally, you have the right to be informed when your home is going to be sold to a new owner. This notice must be sent at least two weeks prior to the sale and should include the sale price and the buyer. These rights are in place to protect you and ensure that both you and your lender are treated fairly throughout the foreclosure process. Be sure to familiarize yourself with these rights to get the best possible outcome.

Related FAQs

What is the foreclosure timeline?
How can I increase my chances of success with foreclosure defense?
What happens after a foreclosure has been completed?
Are there any resources available for filing an objection to a foreclosure sale?
Is there any way to reverse a foreclosure?
What are the benefits of a short sale for stopping a foreclosure?
What is the process of foreclosure defense?
How can I make sure the foreclosure process is fair?
How can I protect myself from foreclosure if I'm unemployed?
What kind of help can I get to avoid a foreclosure auction?

What are my rights as a homeowner facing foreclosure?

Related FAQs

Related Blog Posts