Legal Question in Real Estate Law in California

Re: Please Respond!

I am sorry for your horrible problem, but your difficulty is largely a non-legal problem. Please look at the various answers posted on this site and others as to the same problem you are facing. Talk to the lender to see what they are willing to do.

Re: Please Respond!

I don't think you are reading the "letter" you received from your lender correctly. First, was it a letter, or something titled "Notice of Trustee's Sale?" That makes a very big difference. If what you received is truly a letter, then you are probably at the beginning of the foreclosure process. That means you have some time to attempt to negotiate with the bank to cure the default, and potentially modify your loan to a point where it is affordable. You might also consider bankruptcy, but you would have to be in a position of being able to make future payments plus some payment to make up the arrearages over the next 3-5 years. Finally, you may just want to walk away if you cannot afford the home. If what you received, on the other hand, is a Notice of Trustee's Sale, then you really have 30 or fewer days before the bank will foreclose the home, and you will be evicted. You need to consult with a local attorney as soon as possible. Do Not! contact one of the loan modification companies you see advertising on television or in the papers. You need a qualified attorney to properly advise you.

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