Saturday April 29th, 2017

Foreclosure Prevention Information

Keep Your Home California

Losing a home due to foreclosure can be personally and financially devastating. If you are experiencing difficulty making your mortgage payment, contact your mortgage lender immediately. Your lender is willing to work with you to avoid foreclosure, so long as you make the effort to show that you have made conscious attempts to make your mortgage payment.

Here are some basic tips and links to additional resources.

  • Contact your lender and trusted real estate professional in the event you cannot make your mortgage payment.
  • Prioritize your spending.  Scale back on vacations or extra-curricular activities.   Eliminate unnecessary expenditures (i.e. selling an underutilized auto, discontinuing miscellaneous membership fees, etc.)
  • “Short Sale” your home. Lender(s) accept a discounted payoff on an existing mortgage and agree to allow $0 in closing.  Sale price of the home would be equal to the remaining balance left on your mortgage. (Check with your real estate professional regarding tax implications of a Short Sale.)
  • Ride the Wave.  After prioritizing spending, examine possibility of generating additional income.

RESOURCES

These resources and links to independent organizations unaffiliated with the City of Suisun City are provided for general education purposes without any warranty as to quality of services provided. All attempts to provide accurate information have been made. Nothing replaces appropriate advice from properly trained professionals.

Housing Counseling Agencies

Web Resources

Property Tax Assistance Information