Legal Question in Real Estate Law in California

You would have to provide a lot more information, like the equity to debt ratio of the property, and what other encumbrances there are. It would also be nice to now whether the payments are on a purchase money mortgage, or there was seller financing. Many of the attorneys who answer on here would also like to know where you stand on other debts, because bankruptcy might be an option.

Mr. Roach is correct. Your information is too limited and questions too broad to give you any kind of answer other than that foreclosure is not your option, it is the bank's option, and it is one I can assure you they will take if you do not pay them.

Your question does, however, provide a hint of an additional issue. Why would you have to spend money to fix it up to rent? Perhaps no real issue here, but perhaps you have failed to keep the place in good condition. Negligently or deliberately allowing the lender's collateral to become run down, burdened with tax or HOA liens, etc., can be considered "waste," which is a legal term of art, and a possible basis for a lawsuit outside the loan default and foreclosure mainstream and where you'd have less to no protection under the antideficiency laws.