What options do I have if I'm facing foreclosure?

If you are facing foreclosure in California, you have several options to consider. One option is to attempt a loan modification. A loan modification is when the lender agrees to modify the terms of your loan so that you can continue making payments and stay in your home. Another option is a repayment plan. With this plan, you and the lender come to an agreement where you will pay the amount of past due payments in full over a certain period of time. You can also try a short sale with your lender. A short sale is when your lender agrees to let you sell your house for less than the amount you owe on it. This can prevent foreclosure, but it will stay on your credit report for up to seven years. Finally, you may want to file for bankruptcy. Filing for bankruptcy can stop the foreclosure process, but it will also affect your credit score. No matter which option you choose, it is important to reach out to your lender and discuss what can be done. Your lender may be willing to work with you to find the best solution to avoid foreclosure and save your home.

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What options do I have if I'm facing foreclosure?

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