Best Foreclosure Lawyers in San Mateo

About Foreclosure Law in San Mateo, United States

Foreclosure is a legal process by which a lender seeks to recover the balance of a loan from a borrower who has defaulted on their mortgage payments. In San Mateo, California, foreclosure is primarily handled through a non-judicial process, meaning the court system is not automatically involved unless legal action is required. This process allows lenders to sell the property at auction to recover the outstanding debt. Foreclosure can have serious consequences, including the loss of your home and negative impacts on your credit score. Understanding your rights and options is critical to navigating the foreclosure process in San Mateo.

Why You May Need a Lawyer

There are several situations where seeking legal help with foreclosure is advised:

• If you have received a Notice of Default or Notice of Trustee’s Sale and are unsure about your rights or next steps
• If you believe the lender has made an error in the foreclosure process or violated your legal rights
• If you want to explore alternatives to foreclosure, such as loan modification, short sale, or deed in lieu of foreclosure
• If you are considering filing for bankruptcy to stop or delay foreclosure proceedings
• If you want representation at foreclosure mediation or court proceedings
• If you are a tenant or someone else with a legal interest in a property facing foreclosure

Consulting with a lawyer can help you better understand your options, protect your rights, and potentially find alternatives to losing your home.

Local Laws Overview

Foreclosure laws in San Mateo are governed by California state law, with some specific processes and protections:

• Non-Judicial Foreclosure: Most foreclosures in San Mateo are non-judicial, meaning they proceed without court involvement. Lenders must follow specific notice and procedural requirements.
• Notice of Default: The foreclosure process generally starts with the lender recording a Notice of Default, giving the borrower at least 90 days to resolve the default.
• Notice of Trustee's Sale: If the default is not cured, the lender can issue a Notice of Trustee’s Sale at least 21 days before the sale date.
• Right to Reinstate: Borrowers typically have the right to reinstate the loan by catching up on missed payments and applicable fees before the sale date.
• Protections for Tenants: California law provides certain protections for renters living in foreclosed properties, including advance notice of eviction.
• Homeowner Bill of Rights: California’s Homeowner Bill of Rights offers additional protections for homeowners, such as bans on dual tracking and requirements for loan servicers to provide clear communication about foreclosure alternatives.
• One-Action Rule and Anti-Deficiency Laws: California laws often prevent lenders from seeking a deficiency judgment against the borrower after a trustee’s sale on a primary residence.

Frequently Asked Questions

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

In a judicial foreclosure, the lender files a lawsuit in court to obtain a foreclosure order. In a non-judicial foreclosure, which is more common in San Mateo, the process occurs outside of court and follows a set procedure established by state law.

How long does the foreclosure process take in San Mateo?

Generally, the non-judicial foreclosure process can take anywhere from four to six months from the Notice of Default to the sale, but this timeline can vary based on individual circumstances and legal interventions.

Can I stop a foreclosure once it has started?

Yes. Homeowners may stop foreclosure by reinstating the loan, applying for a loan modification, negotiating a short sale, or in some cases filing for bankruptcy.

Do I have to move out immediately after foreclosure?

No. The new owner must serve you with a notice to vacate. Tenants and former owners generally have at least 3 days before being required to leave, though renters may have more time under city or state law.

What is a Notice of Default?

This is a formal notice recorded by the lender when the borrower defaults on the mortgage. It marks the beginning of the foreclosure process, giving the homeowner at least 90 days to cure the default.

Will a foreclosure affect my credit?

Yes, a foreclosure will significantly impact your credit score and may remain on your credit report for up to seven years, making it more difficult to obtain loans or favorable interest rates in the future.

Can a lender pursue me for a deficiency balance?

In most cases involving residential properties in California, the lender cannot pursue a deficiency judgment after a non-judicial foreclosure, but there are exceptions. Consult a local attorney for your specific situation.

What are my rights as a tenant if my rental home is foreclosed?

Tenants have rights under both state law and the federal Protecting Tenants at Foreclosure Act, including the right to receive notice before eviction and in some cases the right to remain until the end of the lease.

Are there programs to help prevent foreclosure in San Mateo?

Yes, there are state and local resources offering foreclosure prevention counseling, mediation, and financial assistance. Contact a HUD-approved housing counselor or local legal aid.

Do I need a lawyer to handle my foreclosure?

While you are not required to have a lawyer, legal representation can be extremely helpful in protecting your interests, especially if you believe there has been a mistake, need help with negotiations, or want to understand all of your legal options.

Additional Resources

• California Department of Consumer Affairs - Information on foreclosure rights and homeowner protections
• San Mateo County Superior Court Self-Help Center - Assistance for individuals representing themselves in civil matters
• Bay Area Legal Aid - Provides free or low-cost legal services for eligible individuals facing foreclosure
• HUD-Approved Housing Counseling Agencies - Counseling and advice on foreclosure avoidance
• California Housing Finance Agency (CalHFA) - Information on home retention and foreclosure prevention programs

Next Steps

If you are facing foreclosure or have concerns about your mortgage in San Mateo, consider the following steps:

• Contact a HUD-approved housing counselor for free assistance and advice
• Gather all correspondence from your lender and review your mortgage documents
• Reach out to a qualified local foreclosure attorney to discuss your rights and options
• If served with legal documents, respond promptly and seek legal guidance
• Explore mediation or loan modification programs that may halt or postpone foreclosure
• Stay informed about deadlines and legal notices

Acting early can provide you with more options and a better chance of keeping your home or minimizing the negative impact of foreclosure. Legal guidance specific to your situation is strongly recommended.