• Don't panic. Get full information on the foreclosure process in your state and especially how much time you have to resolve your problems short of losing your home. Make sure you understand all deadlines for responding to court documents, documents from lenders and other important papers. Be especially sure that you know the point at which you can lose the legal right to own your home.
• Never sign a contract under pressure. Take your time to review the paperwork thoroughly, preferably with a lawyer representing your interests only.

If you are in the market for a new loan to purchase real property or a loan to refinance an existing mortgage, the mortgage market place offers numerous types of loan products. Being knowledgeable about the loan process will help you find the most desirable loan product and avoid the pitfalls of predatory lending.

The California Department of Real Estate warning against Predatory Lending is HERE.

The California Department of Corporations Fact Sheet on Predatory Lending is HERE.

Be especially careful of Home Equity Lines of Credit (HELOC's) that are exempt from the California Predatory Lending Statutes.  Click HERE for a special warning from the California Department of Real Estate regarding these types of loans.