Best Foreclosure Lawyers in Burlingame

About Foreclosure Law in Burlingame, United States

Foreclosure is the legal process that allows a lender to take possession of a home when the homeowner fails to make mortgage payments. In Burlingame, United States, which is located in San Mateo County, the foreclosure process is typically governed by California state law. Most foreclosures in the area are non-judicial, which means they do not require court involvement but must follow strict procedures outlined by state legislation. Understanding how foreclosure works in Burlingame is crucial for both homeowners facing the possibility of losing their property and for buyers interested in purchasing foreclosed homes.

Why You May Need a Lawyer

Facing foreclosure can be overwhelming, and there are several situations where having a legal expert is important. You may need a lawyer if you:

• Have received a Notice of Default or Notice of Sale from your lender.
• Are unsure about your legal rights and options to avoid foreclosure.
• Believe the foreclosure process was not followed properly or suspect lender misconduct.
• Need to negotiate a loan modification or short sale.
• Are considering bankruptcy to halt foreclosure proceedings.
• Face immediate eviction after a foreclosure sale.
• Want to pursue damages for wrongful foreclosure or other legal claims.

Legal assistance can help clarify your options, ensure your rights are protected, and possibly help you keep your home or negotiate favorable terms for exiting the property.

Local Laws Overview

Burlingame residents are subject to California foreclosure laws. Here are key aspects relevant to local foreclosures:

• Non-judicial foreclosure is the most common method, which does not require a lawsuit but follows a formal process that includes notices and waiting periods.
• Lenders must record a Notice of Default before starting the foreclosure process. The homeowner is then given at least 90 days to cure the default.
• If the default is not cured, a Notice of Trustee Sale must be recorded, scheduling the auction of the home at least 21 days later.
• Homeowners have the right to reinstate the loan up to five business days before the property is sold.
• California law provides protections against dual tracking, which means the lender generally cannot proceed with foreclosure while reviewing a loss mitigation application like a loan modification.
• There is no right to redemption after a non-judicial foreclosure sale in California, meaning you cannot reclaim your home after it is sold.
• Burlingame does not have unique city-specific foreclosure ordinances, but San Mateo County may offer additional homeowner assistance programs.

Frequently Asked Questions

What is the typical timeline for foreclosure in Burlingame?

The typical non-judicial foreclosure process in Burlingame takes around four to five months from the date of the initial Notice of Default to the foreclosure sale, assuming the homeowner does not take any action to stop the process.

Can I stop a foreclosure once it has started?

Yes, you may be able to stop foreclosure by curing the default, negotiating a loan modification, selling your home, filing for bankruptcy, or pursuing other loss mitigation options. Consulting a lawyer can help you assess the best strategy.

Will I owe money if my home is sold in foreclosure?

In many cases of residential foreclosure, California's antideficiency laws protect homeowners from owing a deficiency balance if the sale does not cover the outstanding loan. However, this may not apply to all loan types or situations.

Do I have to move out immediately after foreclosure?

No, but eventually you will need to vacate the property. If the property is sold at auction, you will receive a notice to quit from the new owner, and if you stay beyond this period, they must follow the legal eviction process to remove you.

What can I do if I believe my lender made a mistake during foreclosure?

If you suspect errors or misconduct in the process, contact a foreclosure attorney immediately. Legal counsel can help you file complaints, seek injunctions, or pursue lawsuits as appropriate.

Are there any options to keep my home during foreclosure?

Yes, possible options include loan modification, reinstatement, forbearance agreement, or filing for bankruptcy. Working with your lender and seeking legal advice early can help you identify opportunities to retain your home.

Does Burlingame or San Mateo County offer foreclosure assistance?

Yes, there are local agencies and non-profits that offer foreclosure prevention counseling, financial assistance programs, and legal referrals.

What happens to my credit after foreclosure?

Foreclosure can significantly damage your credit score and can remain on your credit report for up to seven years.

If my home is in foreclosure, can I still sell it?

Yes, selling your home before the foreclosure sale is often possible, especially if you can pay off the debt with the sale proceeds or negotiate a short sale with your lender.

How do I find a qualified foreclosure attorney in Burlingame?

Look for attorneys who specialize in real estate and foreclosure law. Local bar associations, legal aid societies, and state-certified lawyer referral services can help you find qualified and reputable legal representation.

Additional Resources

If you need more information or support regarding foreclosure in Burlingame, the following resources can be helpful:

• San Mateo County Department of Housing - Offers housing counseling and foreclosure prevention programs.
• California Department of Consumer Affairs - Provides general information about foreclosure and homeowner rights.
• Legal Aid Society of San Mateo County - Offers legal assistance to those who qualify based on income.
• U.S. Department of Housing and Urban Development (HUD) - HUD-approved housing counseling agencies can provide free or low-cost counseling.
• State Bar of California - Provides a lawyer referral service for those seeking legal assistance with foreclosure.

Next Steps

If you are facing foreclosure in Burlingame, act quickly to protect your rights. Start by gathering all relevant documents, such as your mortgage agreement, notices from your lender, and financial records. Seek counseling from a HUD-approved agency if you need help understanding your options. If you believe you have a valid legal challenge to the foreclosure, or want to negotiate directly with your lender, consult with a qualified foreclosure attorney in your area as soon as possible. Taking prompt action maximizes your chances of finding a workable solution and possibly avoiding the loss of your home.