Are there any government programs available to help me prevent foreclosure?

Yes, there are government programs available to help you prevent foreclosure in California. The Homeowner Bill of Rights (HBOR) is a law that was enacted in 2013 and provides a variety of protections to homeowners. This includes preventing foreclosure if you are unable to make your mortgage payments due to a temporary financial hardship. This gives you a chance to work with your lender to find a solution to your situation. The California Housing Finance Agency (CalHFA) also provides various homeownership assistance programs. These include down payment assistance, loans to help with mortgage payments and closing costs, and foreclosure prevention counseling. CalHFA gives you access to free counseling services to help you manage your finances and avoid foreclosure. They also offer loan modification programs that can reduce your monthly mortgage payments. The Making Home Affordable Program is another federal program offering assistance to homeowners facing foreclosure. This program helps lower your mortgage payments by extending the loan term, reducing interest rates, and/or writing off some of the principal balance. Additionally, the Department of Housing and Urban Development (HUD) provides foreclosure prevention counseling which can be used to help you develop a plan to pay your mortgage. If you are facing foreclosure, it is important to seek help as soon as possible. There are many programs and resources available to assist you in keeping your home and avoiding foreclosure.

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