1. 💰 Loan Modification or Workout Plan

What it is: Working directly with your lender to modify your loan terms, reduce payments, or create a payment plan.

How it works in California:

• California's Homeowner Bill of Rights provides extra protections
• Lenders cannot pursue foreclosure while reviewing your modification application
• You have the right to appeal denied applications

Best for: Homeowners who want to keep their home and can afford reduced payments.

2. 🏠 Sell Your Home for Cash

What it is: Selling your property quickly to a cash buyer before the foreclosure auction.

Why this works:

• Can close in as little as 7 days
• No need for repairs or staging
• Stops foreclosure immediately upon closing
• You may walk away with cash instead of owing money

Best for: Homeowners who need to exit quickly or owe more than the home is worth.

3. 📋 Chapter 13 Bankruptcy

What it is: Filing bankruptcy to create an automatic stay that stops foreclosure proceedings.

How it helps:

• Immediately stops foreclosure auction
• Creates a 3-5 year repayment plan
• Allows you to catch up on missed payments over time
• Can strip second mortgages in some cases

Best for: Homeowners with steady income who can make current payments plus catch-up amounts.

4. 🤝 Deed in Lieu of Foreclosure

What it is: Voluntarily transferring your property deed to the lender to avoid foreclosure.

Benefits:

• Less damage to your credit than foreclosure
• Lender may provide relocation assistance
• Eliminates the public foreclosure process
• May qualify for cash-for-keys programs

Best for: Homeowners who owe more than their home is worth and want to avoid foreclosure's credit impact.

5. 🔄 Loan Reinstatement

What it is: Paying all missed payments, fees, and costs to bring your loan current.

California advantage: You have the right to reinstate your loan until 5 business days before the foreclosure auction.

Funding sources:

• Personal savings or family loans
• California Housing Finance Agency programs
• Local emergency assistance programs
• 401(k) loans or other retirement funds

Best for: Homeowners who have access to enough funds to catch up completely.

🚨 Time is Critical - Act Now

California foreclosure moves quickly once it starts:

• Notice of Default: After 90+ days of missed payments
• Notice of Trustee Sale: 90+ days later
• Auction: 21+ days after sale notice

The earlier you act, the more options you have available.

Which Option is Right for You?

Every foreclosure situation is unique. The best option depends on:

• How much you owe vs. your home's value
• Your current income and ability to make payments
• How much time you have before auction
• Your long-term housing goals
• Available resources and family support

About My Foreclosure Solution

We're licensed real estate professionals who have been helping California homeowners avoid foreclosure since 2014. We understand the stress and uncertainty you're facing, and we're here to provide honest, transparent solutions with no hidden fees.

Whether you want to keep your home or need to sell quickly, we can help you explore all your options and choose the path that's right for your situation.