Southern California Home InfoHow Can I Slow The Process?What you need to know is the Foreclosure process in California is 111 days from filing date in your county. A couple of ways to stall the process is filing Bankruptcy, or Short selling the property. I cannot recommend Bankruptcy, and I hope you don't take this lightly. A bankruptcy may stall a foreclosure for a month or so. Bankruptcy will not stop a foreclosure and for me it would never be worth it. A bankruptcy should be discussed with a Bankruptcy attorney. I am not an Attorney, and it is my opinion, that bankruptcy is not the answer for foreclosure. It may be a good option later down the road after the house has been sold. I would not think this is the way to go to try to keep a home for an extra month or two. The bank will ask for and usually get to bypass the bankruptcy. A short sale - A short sale may keep you in your home for as much as two years that I have seen. This is starting to change though. This is not the intention of the seller, the buyer, the agents, or anyone. The main reason for this is simply the banks are overwhelmed and for some reason some short sales fall into the cracks. This may be the case for those who try to short sell their home prior to the Notice of Default being filed. Keep in mind there have also been short sales done in as little as 45 days. This is not the norm. The normal short sale takes on average As for slowing the process, the Lender for a myriad of reasons takes a long slow path. Partly the reason is how they negotiate. While they feel time is on their side, this is usually not the case. The lenders also want to make it difficult for sellers to short sell to minimize their financial losses. The lenders do not want to make it easy for everyone to short sell properties. Depending on the lender, one way to slow the process is to list your property for sale prior to the Notice of default.
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