Legal Options to Protect Your Home from Foreclosure

Distressed Sellers Arielle Dixon April 8, 2024

Facing the possibility of losing your home can be overwhelming. But did you know there are legal ways to help you keep it? Let's explore some options that can give you a fighting chance to save your home from foreclosure.

Bankruptcy: A Powerful Tool

Bankruptcy is like a shield that can stop foreclosure proceedings. It gives you a break from bills and legal actions, including foreclosure. There are different types of bankruptcy, like Chapter 7, Chapter 11, and Chapter 13. Each type helps in different situations. Talking to local experts in bankruptcy can guide you to the best option for your situation.

Restraining Orders: A Last-Minute Lifesaver

If foreclosure is just around the corner, you can ask a court for a restraining order. This temporary order stops the foreclosure sale, buying you some time. But remember, it's only a temporary fix, and it's up to a judge to decide.

Litigation: Fighting Back Legally

If a restraining order isn't enough, you can take legal action against your lender. Filing a lawsuit can challenge the foreclosure and maybe even stop it for good. Laws like the Homeowner Bill of Rights can be on your side in these cases.

Surplus Funds: Finding Hope in Equity

Even if your home is sold in foreclosure, there might be some money left over. According to California law, that extra money belongs to you. It's called surplus funds, and it could help you start over.

Facing foreclosure is scary, but knowing your legal options can give you hope. From bankruptcy to restraining orders and lawsuits, there are ways to fight for your home. By understanding these options and getting help from legal experts, you can take steps to protect what matters most—your home.



The content provided on this blog is for informational purposes only and should not be construed as legal advice. While we strive to provide accurate and up-to-date information, the legal landscape is constantly evolving, and laws may vary depending on your jurisdiction.

Reading or relying on any information on this blog does not establish an attorney-client relationship. If you require legal advice or assistance, please consult with a qualified attorney licensed to practice law in your jurisdiction.

We disclaim all liability for any actions taken or not taken based on the content of this blog. Any reliance on the information provided herein is solely at your own risk.

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Arielle understands that buying or selling a home is an important decision that's about so much more than just the price tag, and she is fully committed to helping you achieve your real estate dreams, whatever they may be.