- Foreclosure prevention counseling through a HUD certified agency can provide you with information and guidance. Pacific Community Services is a nonprofit counseling agency serving Lamorinda homeowners. You will receive individualized counseling to insure you understand the foreclosure process, your rights and all available options. Possible alternatives to foreclosure include a forbearance, reinstatement, loan modification, deed in lieu of foreclosure, short sale and assigning the mortgage to HUD.
- Contra Costa Home Equity Preservation Alliance is a partnership between local counseling agencies and legal aid service providers. The goal is to bring awareness and resources to homeowners. After evaluating your case, the alliance can negotiate directly with your lender to reach a solution to foreclosure. The counselor can assist you with applying for aid through federal programs, including Making Home Affordable which provides loan modifications to homeowners experiencing a hardship.
- Bay Area Legal aid provides free legal aid to low-income homeowners who cannot afford to hire an attorney. You will need to provide documentation to determine eligibility. After your application for assistance is approved, a pro bono attorney or paralegal will review your case and discuss your legal rights and options. Depending on your case, you may be eligible for court representation. The attorney will check for mortgage discrepancies or predatory lending. Some homeowners opt to file bankruptcy as a foreclosure prevention method. The attorney can explain the consequences and assist you with filing,
- California is classified one of the states most affected by the foreclosure crisis of 2009. Additional funding was awarded to the California Housing Finance Agency to tackle the state foreclosures. The agency implemented the Keep Your Home California program to assist homeowners who encounter a financial hardship or involuntary unemployment. Under the program, individually named programs provide relief up to $18,000 to prevent foreclosure. The Unemployment Mortgage Assistance Program covers six months of mortgage payments while homeowners seek employment. The Mortgage Reinstatement Assistance Program awards $15,000 to reinstate delinquent loans. Homeowners who can no longer afford their mortgage payment may benefit from the Principal Reduction Program which reduces the balance of the loan.
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