Q: Would there be a foreclosure risk if we hold on to mortgage payments until we hear back from the mortgage relief
Under California law, holding off on mortgage payments while waiting for a response regarding mortgage relief can be risky. Foreclosure proceedings can be initiated by your lender if you miss payments, even if you have applied for mortgage relief. It's important to keep in mind that the application for relief does not automatically pause your obligation to make payments.
You should communicate proactively with your lender about your situation. Many lenders are willing to discuss potential solutions or temporary adjustments, especially if you are facing genuine hardship. However, until a formal agreement is reached, your original mortgage terms remain in effect.
To avoid foreclosure risk, it's advisable to continue making payments if possible. If making full payments is not feasible, consider paying what you can and keeping the lines of communication open with your lender. Remember, each situation is unique, and the lender's willingness to accommodate may vary.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.