Best Foreclosure Lawyers in Bakersfield

About Foreclosure Law in Bakersfield, United States

Foreclosure is a legal process that allows a lender to take ownership of a property when the homeowner fails to make their mortgage payments. In Bakersfield, United States, foreclosure proceedings are governed by both state and local laws, with the aim of resolving outstanding debt and determining the future of the property in question. Because Bakersfield is located in California, most foreclosures in the area are non-judicial, meaning they do not require a court order. The process can be complex, and timelines can move quickly, making it crucial for both homeowners and buyers to understand their rights and obligations.

Why You May Need a Lawyer

Foreclosure can have lasting consequences for homeowners, including loss of property and damage to credit ratings. There are several situations where legal help is highly recommended:

• You have received a Notice of Default (NOD) or a Notice of Trustee Sale.
• You believe there has been a mistake in your mortgage records or payments.
• You want to negotiate a loan modification, short sale, or deed in lieu of foreclosure.
• You need to understand alternatives to foreclosure or seek protection under bankruptcy law.
• You wish to challenge an illegal or wrongful foreclosure.
• You are a tenant or potential buyer affected by an ongoing foreclosure process.

Engaging a lawyer ensures you are fully informed of your options and that your rights are protected throughout the process.

Local Laws Overview

Foreclosure in Bakersfield is primarily governed by California state law, with some local ordinances possibly affecting the process. The majority of foreclosures in Bakersfield are non-judicial and occur outside of court, relying on the "power of sale" clause in the deed of trust. Key aspects include:

• A lender must record a Notice of Default after payments have been missed for at least 90 days.
• Homeowners typically have a minimum of three months to cure the default before a Notice of Trustee Sale can be filed.
• The home can be sold at public auction at least 21 days after the trustee sale notice is posted.
• California law provides certain protections for homeowners, such as the right to reinstate the loan up to five business days before the sale and opportunities for loss mitigation or loan modification.
• Tenants in foreclosed properties have the right to appropriate notice before eviction, often 90 days or more under some circumstances.
• Bakersfield and Kern County may have additional mediation programs or resources designed to assist distressed homeowners.

Frequently Asked Questions

What is the difference between judicial and non-judicial foreclosure in Bakersfield?

Most foreclosures in Bakersfield are non-judicial because most California mortgages use deeds of trust with a "power of sale" clause. Non-judicial foreclosures do not involve the court system, whereas judicial foreclosures do.

How long does the foreclosure process take?

The process usually takes several months. There is a minimum 90-day period after the Notice of Default, followed by at least 21 days after the Notice of Trustee Sale before the home can be auctioned.

Can I stop a foreclosure once it has started?

Yes, you can stop foreclosure by curing the default, negotiating a loan modification, filing for bankruptcy, or through other legal means. It is important to act quickly, as timelines are strict.

Do I have to move out immediately after foreclosure?

Usually, after a foreclosure auction, the new owner must give you a written notice to vacate. In most cases, tenants and former owners receive at least 90 days notice, but timelines may vary based on occupancy and local rules.

What happens to any equity I have in the home?

If the foreclosure sale brings in more money than you owe, the excess proceeds, after paying off liens and sale costs, belong to you, the former homeowner.

Can a foreclosure affect my credit?

Yes, a foreclosure will be reported to credit agencies and can lower your credit score significantly, affecting your ability to borrow in the future.

Are there any alternatives to foreclosure?

Yes, alternatives include loan modifications, forbearance, short sale, deed in lieu of foreclosure, and refinancing. Consulting a lawyer or housing counselor can help you evaluate these options.

Are tenants protected during a foreclosure in Bakersfield?

Tenants have significant rights under both California and federal law. Most will receive at least 90 days notice before eviction, and some may be able to finish their lease term depending on circumstances.

Can I challenge a wrongful foreclosure?

Yes, if you believe your foreclosure was improper, such as due to lender error or failure to follow legal procedures, you may contest it in court. Legal assistance is highly recommended in these cases.

How do I find out if my home is in foreclosure?

If you miss mortgage payments, your lender will send notices to your address. Public records are also updated with foreclosure filings, such as the Notice of Default, which is recorded with the county.

Additional Resources

• Kern County Superior Court - Civil Division: Offers information about legal forms, mediation, and resources regarding foreclosures in Bakersfield.
• California Department of Consumer Affairs: Provides consumer guides and assistance related to mortgages and foreclosure.
• Housing and Urban Development (HUD) Approved Housing Counselors: These counselors offer free or low-cost advice about foreclosure avoidance.
• Bakersfield Legal Aid Services: Local organizations can provide free or subsidized legal guidance for eligible individuals facing foreclosure.
• Kern County Recorder's Office: For public records of foreclosure notices and property liens.

Next Steps

If you are facing foreclosure or have received a foreclosure notice in Bakersfield, it is crucial to seek legal advice as soon as possible. Here are some steps to follow:

• Do not ignore any notices from your lender or trustee.
• Gather all relevant documents, including mortgage paperwork, notices received, and records of payment or correspondence.
• Contact a qualified foreclosure attorney familiar with Bakersfield and California law to discuss your case and legal options.
• Consider reaching out to approved housing counselors or local legal aid services for guidance and support.
• Take timely action, as waiting could limit your available options for resolving the issue or protecting your rights.

Foreclosure is a serious legal matter, but with prompt attention and professional guidance, you may be able to negotiate a better outcome, whether through loan modification, defense against wrongful actions, or exploring alternatives to losing your home.