Foreclosures

• California Judicial Foreclosures
• California Non Judicial Foreclosures

& Alternatives

Here are some other possibilites to the Foreclosure Proceeding: (Click Links for detailed discussion)

• Partial Reinstatement.

The servicer suspends foreclosure proceedings for a time, after the borrower makes a payment equal to some percentage of the delinquency (the borrower must then catch up in full).

• Forbearance Agreement.

An agreement that can last up to two years in duration and that permits the borrower to catch up on payments while making full current payments.  An agreement of forbearance allows you to put off paying delinquent payments and late fees to a later date when you are financially in a better position. In an agreement of forbearance the lender agrees not to proceed with the foreclosure so long as you make your current payments. An agreement is usually reached as to how you'll pay the delinquency over a period of time or at some date in the future. This is not a good option for those who do not expect a significant increase in their income in time to make the required additional payments of the delinquent amounts.

• Special Forbearance Agreement.

An agreement that can last up to a year and that allows the borrower to make partial payments (typically, the arrearage must then be paid in full at the end of the agreement period).

• Loan Modification.

A modification of the existing loan terms that includes significant reductions in interest rate (down to 0%) or converts an adjustable rate mortgage to a fixed rate.

• Waiving Certain Fees.

Since the servicer keeps all fees collected from the borrower, the servicer has complete discretion to waive these fees in order to help make a workout successful.

• Short Sales

• Short Refinance

• Restructure & Relief

• Bankruptcy

• Mortgage Forgiveness Debt Relief Act of 2007?

• H.O.P.E Program