You have both options and time if you cannot make your mortgage payments or face a foreclosure.  The California foreclosure process takes anywhere from eight months to several years from the day you missed your mortgage payment to the auction date.     

Your loan servicer or lender will contact you after you missed a payment.  They have to follow a set of laws and procedures that substantially slow the foreclosure process after reaching out to you.  In California, the earliest your home can be foreclosed on is after 111 days after a Notice of Default is filed. Homeowners have the opportunity to come current on their payments all of the way up until the auction day. Lenders have an interest in keeping you in your home and paying the mortgage because they lose money when they have to foreclose. 

 

I created this website to provide you with valuable information for homeowners to navigate the forelcosure process. 

 

Evan Haug 
CalBRE: 01891733