Legal Question in Real Estate Law in California

Re: foreclosure

You have a few options. First, some lenders voluntarily delay foreclosures while a modification is in process. Its not a hard-and-fast rule, but it is something to call whomever is handling your workout at the bank to discuss. They may set the sale date, but continue it while you are actively pursuing the modification. Be very careful, however, as some banks will tell you one thing, and do another. Get it in writing. I do also know that under the Obama plan, lenders are stating that they do not have to forebear on their collection efforts while negotiating a modification. To stop the modification without their consent, you would either have to file bankruptcy (which will very likely mess-up your modification; and could potentially be bankruptcy fraud if you are not filing with the intention of doing anything but stopping the foreclosure) or you can file for a temporary restraining order, but I don't know what your grounds would be for doing so. You have to be very careful pursuing any court action if the basis for doing so is not grounded in law.

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