Most real estate transactions are financed through loans secured by deeds of trust, which are commonly called mortgages on the property.  A mortgage involves the transfer of an interest in land as security for an obligation.  In California, it is typically done by recording a deed of trust to secure a promissory note for the amount borrowed which is repaid in installments that include both interest and principal payments.
 
If mortgage payments are not made on schedule, the lender can foreclose on the mortgage and demand that the entire mortgage debt be paid immediately. If the borrower cannot pay, the property interest may be sold; however, the actual foreclosure process depends on state law, the terms of the mortgage, and whether other liens exist on the property.  California allows both judicial foreclosure through the Courts, and non-judicial foreclosure through trustee’s sales.  In either situation, California allows the borrowers to make late payments to avoid foreclosure, and many lenders work out payment plans with borrowers either before resorting to foreclosure or during the foreclosure process. Our attorneys can advise you about the foreclosure process in California, including both judicial and non-judicial (trustee’s sale) foreclosure.  We can also advise you regarding the risk of a deficiency judgment after foreclosure which depends on the types of loans and foreclosure process which is utilized.  We can also advise you about alternatives to foreclosure, including loan modifications, short sales, and deeds in lieu of foreclosure.

Mehlman Law Group provides competent advice and can negotiate with lenders to protect your interests when you are threatened with foreclosure.

To speak to an attorney about your case, contact our office at 925-935-3575 today.