San Francisco Foreclosure Defense Attorney

Are You Searching for a Lawyer to Prevent Foreclosure?

Do you own a home in San Francisco? If so, you may be painfully aware of the high cost of living, steep mortgages, and taxes that residents have to pay. If you are a San Francisco resident that has accumulated high amounts of debt and faulted on mortgage payments, you may be feeling the weight of foreclosure coming in around you. Foreclosure is a terrifying experience, and no one wants to see the home that they have invested so much into be put up for auction. It is important to remember though that you have options. At Kostopoulos Bankruptcy Law we can provide you with answers regarding foreclosure and help you develop.

When Does the Foreclosure Process Begin?

The foreclosure process typically begins when a homeowner fails to make their mortgage payments as required by their loan agreement.

How the foreclosure process typically unfolds:

  1. Missed Payments: When a homeowner misses one or more mortgage payments, they are considered delinquent. The number of missed payments required to initiate foreclosure can vary depending on the terms of the mortgage agreement.
  2. Pre-Foreclosure Period: After a certain number of missed payments, typically around 90 days, the lender will usually send the homeowner a Notice of Default (NOD). The NOD notifies the homeowner that they are in default and gives them a specific period, often 30 to 90 days, to bring the mortgage current and avoid further foreclosure action.
  3. Foreclosure Filing: If the homeowner fails to bring the mortgage current within the specified period, the lender will typically file a public notice known as a Notice of Trustee Sale (NTS) or Notice of Foreclosure Sale. This notice announces the lender’s intention to sell the property at a foreclosure auction. The NTS is recorded with the county recorder’s office and is published in local newspapers.
  4. Foreclosure Auction: The foreclosure auction is a public sale where the property is sold to the highest bidder. The auction can take place on the courthouse steps, at an auction house, or online, depending on local practices. The winning bidder will typically be required to pay in cash or with a certified check.
  5. Post-Foreclosure: If the property is sold at the foreclosure auction, ownership transfers to the winning bidder, and the former homeowner must vacate the property. In some cases, if the property does not sell at the auction, it becomes real estate owned (REO) by the lender, and they may attempt to sell it through traditional real estate channels.

I’ve received a Notice of Foreclosure. What do I do?

While foreclosure does not happen immediately, a bank or lender can still quickly seize a property to sell and force homeowners to move.

  • Review the Notice: Read the Notice of Foreclosure carefully to understand the details of the foreclosure process, including the timeline, outstanding amounts, and any options for avoiding foreclosure that may be mentioned.
  • Contact Your Lender: Reach out to your lender as soon as possible to discuss your situation. In some cases, they may be willing to work with you to find a resolution. Ask about available options such as loan modification, repayment plans, or forbearance. Be prepared to provide financial information and any supporting documentation required.
  • Seek Foreclosure Prevention Counseling: Contact a HUD-approved housing counseling agency in your area. These agencies can provide free or low-cost counseling services and assist you in exploring alternatives to foreclosure. They can help you understand your options and negotiate with your lender on your behalf.
  • Gather Financial Documents: Collect and organize your financial documents, including income statements, bank statements, tax returns, and any other relevant paperwork. This information will be essential when discussing your situation with your lender or seeking assistance from a housing counselor.
  • Consider Legal Advice: Consult with an experienced foreclosure attorney in San Francisco¬†who can evaluate your case, provide legal advice, and represent your interests. They can guide you through the foreclosure process, review your options, and help you understand your rights.
  • Explore Bankruptcy Options: As mentioned earlier, bankruptcy may provide an automatic stay that temporarily halts the foreclosure process. However, whether bankruptcy is appropriate for your situation depends on various factors. Consult with a bankruptcy attorney to understand the potential benefits and consequences of filing for bankruptcy.

If you have recently received a notice of eviction or foreclosure, you need to contact a San Francisco bankruptcy lawyer from our firm right away.

Using Bankruptcy to Stop Foreclosure in San Francisco, CA

One of the most trusted ways to protect your home from foreclosure is to file for bankruptcy. Filing for bankruptcy is a legal process that may help individuals or businesses experiencing financial difficulties by providing relief from debt and protection from creditors.

Whether you file under Chapter 7 or Chapter 13, bankruptcy will place an automatic stay onto all your accounts, which will stop the collection attempts and foreclosure process. The lender or bank may still be able to resume foreclosure and lift the stay, filing a bankruptcy petition can allow you enough to regain control of some of your finances.

  • Chapter 7 Bankruptcy: This form of bankruptcy involves the liquidation of assets to pay off creditors. However, it’s essential to understand that the foreclosure process can eventually resume if you have significant equity in your property that exceeds the available exemptions.
  • Chapter 13 Bankruptcy: This form of bankruptcy involves creating a repayment plan to pay off your debts over a specified period, usually three to five years. If you’re facing foreclosure, Chapter 13 bankruptcy may allow you to catch up on missed mortgage payments over time while keeping your home.

Other Foreclosure Defense Options

In addition to bankruptcy, there are several other foreclosure defense options you may consider. It’s important to consult with a foreclosure attorney to discuss these options and determine the best course of action based on your circumstances.

  • Loan Modification: You can work with your lender to modify the terms of your mortgage loan. This may involve negotiating a lower interest rate, extending the loan term, or adding the missed payments to the end of the loan. Loan modification can help make your mortgage more affordable and prevent foreclosure.
  • Forbearance Agreement: If you’re facing a temporary financial hardship, you may qualify for a forbearance agreement. This allows you to temporarily suspend or reduce your mortgage payments for a specific period. After the forbearance period ends, you’ll need to resume regular payments and may be required to repay the missed payments.
  • Short Sale: In a short sale, you sell your property for less than the outstanding mortgage balance. The lender agrees to accept the proceeds of the sale as full satisfaction of the debt. While a short sale will still involve the loss of your home, it can help you avoid the negative consequences of foreclosure and potentially mitigate the impact on your credit.
  • Deed in Lieu of Foreclosure: This option involves voluntarily transferring ownership of your property to the lender to avoid foreclosure. In return, the lender forgives the remaining mortgage debt. Like a short sale, this option can help you avoid the foreclosure process and its associated consequences.
  • Defenses and Challenges: Depending on the circumstances surrounding your mortgage and foreclosure, there may be legal defenses or challenges you can assert. This could include issues with the foreclosure process, improper documentation, predatory lending practices, or violations of consumer protection laws. An attorney can help you identify and pursue relevant defenses.
  • Mediation or Negotiation: Some states offer foreclosure mediation programs that allow homeowners and lenders to engage in facilitated negotiations to find a resolution. Mediation can provide an opportunity to discuss foreclosure alternatives and potentially reach a mutually agreeable solution.

Dedicated Representation from Kostopoulos Bankruptcy Law

If you are considering filing for bankruptcy, it is important that you immediately contact our team. At Kostopoulos Bankruptcy Law, we provide outstanding representation to individuals facing financial hardship. Our team of dedicated legal professionals has successfully represented more than 8,000 bankruptcy clients, and we may be able to help you as well. Now is the time to act!


Tell us your story and we can provide you with information on protecting your home and your investments. Contact a foreclosure defense lawyer from our team today – (877) 969-7482.