Q: How to stop a fore closure by my lender mortgage company. I have a personnel loan or hard money loan with the company.

A: Stopping a foreclosure on a hard money loan may be very difficult. If this property was your primary residence prior to taking out the loan, you may be entitled to additional protections. However, many times the paperwork that you sign when you take out the loan includes an affidavit where you confirm that the property is not your primary residence. With hard money lenders, your only options are often negotiating a repayment plan, coming up with funds to reinstate the loan, or finding a way to refinance the loan. In the event that the foreclosure moves forward, you may be entitled to money from the foreclosure auction if the property sells for more than you owed. This is known as surplus recovery. Schedule a free consultation to come up with a plan to avoid foreclosure.

A: Your situation with the foreclosure threat is stressful, but you have several options to protect your primary residence in California.

First, contact your lender immediately to discuss loan modification, refinancing, or forbearance options. California law requires lenders to contact borrowers at least 30 days before starting foreclosure proceedings to explore alternatives. You may also qualify for the California Homeowner Bill of Rights protections, which can help delay or prevent foreclosure while you work out payment arrangements.

Consider filing for bankruptcy protection if needed - this can trigger an automatic stay to temporarily stop the foreclosure process. You should also reach out to free HUD-approved housing counselors in California who can review your situation and explain your rights. The California Housing Finance Agency might have programs to help you catch up on payments. Time is critical, so take action now to explore these options and protect your home.