Foreclosure Alternatives
and other resources for homeowners
There are many options for homeowners in default or otherwise facing foreclosure. We have a GUIDE for homeowners with 10 options when facing foreclosure, a list of common homeowner assistance scams, and information about the California Homeowner Bill of Rights.
While there are other options available. the options listed below are the ones we are most commonly asked about. Click the titles below for more information:
Standard Sale
A standard sale is a regular real estate equity sale where the homeowner receives their equity balance after closing.
Short Sale
A short sale occurs when a homeowner owes more on their loan than the market value of the property. Short sales require bank approval.
Loan Modification
Homeowners may be able to work with their current mortgage company to refinance or extend the terms of the loan.
Forbearance
Homeowners may be able to work with their current mortgage company to institute a payment plan or temporary reduction in monthly mortgage.
COVID-19 Resources
The Department of Housing and Urban Development (HUD) and Fannie Mae have resource pages with information about programs available to homeowners who are having trouble making mortgage payments due to COVID-19.
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