If you are having trouble making any upcoming mortgage payments on your home or wish to discuss options to avoid foreclosure, please continue reading for some helpful advice.
 
The most important thing to do if you think you may be having trouble making your payments is to contact your lender, by telephone or at its web site.  Although it may be difficult to make that call, your lender has representatives available to discuss your situation in detail and explore your options.

If your CalHFA loan is serviced by CalHFA Loan Servicing (or you make your payments to CalHFA), see below.  

Borrowers who are unable to afford their mortgage payments and wish to avoid foreclosure have options:

• Special Forbearance Plan – a written agreement allowing borrowers to either suspend or reduce monthly payments for a specified period of time until they are able to make payments to bring the loan current.
• Repayment Plan – a written agreement allowing borrowers to repay their late or unpaid mortgage payments by making a scheduled payment in addition to the regular monthly payment.
• Loan Modification – a change in one or more of the terms of the note in order to bring the loan current by adding the amount owed to the loan balance and/or re-adjusting the balance within the existing remaining term.  This will not reduce the total loan balance.
• Short Sale – borrower selling the property and the lender accepting less than total balance of the loan.
• Deed-In-Lieu – borrower voluntarily gives up the title of the home to the lender.
• Military Relief – rights and protections provided under the Servicemembers Civil Relief Act or the California  Military Families Financial Relief Act.

More detailed information regarding these options is available here.

If you have a loan serviced by CalHFA, and are worried about missing payments or wish to discuss options to avoid foreclosure, please:

• Call CalHFA’s Loan Servicing department, toll free, 800.669.1079, or contact CalHFA Loan Servicing by e-mail at servicing@calhfa.ca.gov.
• Keep CalHFA’s Loan Servicing department informed of your primary and secondary telephone numbers and current mailing address.
• Respond to CalHFA Loan Servicing department telephone calls and requests for information within the stated time frame.
• Contact a HUD-certified housing counseling agency at 800.569.4287.
• Gather information about your financial situation when discussing options for avoiding foreclosure.
• Send written requests and information to CalHFA’s Loan Servicing department by faxing to 916.376.1884 or mailing to
  1040 Riverside Parkway Suite 110, West Sacramento, CA 95605.

Borrowers should have these documents ready when discussing options to avoid foreclosure with CalHFA Loan Servicing

• Hardship affidavit and Letter explaining the reason for the delinquency with supporting documentation to verify hardship. Documentation supporting hardship must not be more than 90 days old as of the date of program eligibility.
• Borrower(s) to provide a list of all personal expenditures (i.e. credit cards loans groceries, utilities, child care, insurance, gasoline, etc.).
• Last two (2) years signed federal tax returns including all schedules and k-1s, if applicable. If a borrower is self-employed, provide two (2) years signed business tax returns and YTD Profit and Loss Statement and Balance Sheet.
• Verification of income [last (2) months computer-generated pay stubs with YTD income]
• Verification of all supplemental income, if applicable
• Verification of deposit [last two (2) months bank statements]
• Current homeowners insurance declaration page

Additional information may be requested by CalHFA’s Loan Servicing department in order to make a final decision on any option discussed.  Approval by the mortgage insurer and investor may also be required.

Helpful toll free phone numbers & web sites

Foreclosure Counselor List by City

CalHFA Loan Servicing
800.669.1079
www.calhfa.ca.gov/myaccount

HUD-certified Housing Counseling Agencies
800.569.4287
www.hud.gov/foreclosure/index.cfm

California's Consumer Home Mortgage Information
www.yourhome.ca.gov  (in English)
www.sucasa.ca.gov (en Español)

Homeownership Preservation Foundation
888.995.HOPE (4673)
www.995HOPE.org

Rural Community Assistance Corp (RCAC) Foreclosure Counseling Agencies
http://www.rcac.org/news.aspx?80

Military OneSource
800.342.9647
www.militaryonesource.com