How can I stop a foreclosure sale?

For homeowners in California facing the difficult situation of foreclosure, there are options available to stop the sale. One of the most important steps to take is to contact the lender. Homeowners can explain their current financial struggles and discuss the potential possibility of loan modification. A loan modification is a process that allows the lender to change the terms of the loan to make it more affordable. This can include reducing the interest rate, extending the length of the loan, and/or changing the monthly amount due. It is also possible to speak with a housing counselor who can help homeowners evaluate their options and find the best possible solution. Counselors at non-profit organizations such as the Housing and Economic Rights Advocates, National Fair Housing Alliance, and the California Homeowner Bill of Rights are especially skilled in navigating the foreclosure process. It may also be a good idea to speak with a real estate lawyer. An attorney can review the mortgage and foreclosure paperwork to ensure accuracy and identify any errors that may be present that could potentially stop a foreclosure sale. Ultimately, it is important for homeowners in California to take action as quickly as possible to prevent a foreclosure sale. Contacting the lender, speaking with a housing counselor, and meeting with a lawyer are all important steps to take in the effort to stop a foreclosure sale.

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