If you begin to fall behind in your monthly mortgage payments, your lender may have the right to foreclose on your home.
Learning what to do and knowing who to contact when facing foreclosure may help you save your home.
What is Foreclosure?
Foreclosure is the legal process used to seize your property if you fail to keep up your payments. In some states, foreclosure involves a court proceeding ("judicial foreclosure"), while in others, foreclosure occurs by creditor action alone ("non-judicial foreclosure").
In Washington, creditors have the option of using either the judicial foreclosure process (for mortgages or deeds of trust) or the non-judicial foreclosure process (for deeds of trust only).
Foreclosure Assistance Programs
If you are struggling to make monthly mortgage payments, there are several federal and state programs that may be able to assist you.
What To Do If You're Late On Payments
Learn about what to do if you're struggling to make mortgage payments.
Possible Alternatives to Foreclosure
There are several possible alternatives to foreclosure. Review your options.
Information For Renters
If you rent your home, and your home was sold at a foreclosure, a federal law requires the new owner to notify you at least 90 days before evicting you.
- Making Home Affordable
Federal programs that may be able to help you refinance or obtain a loan modification.
- Washington Foreclosure Prevention Resource Guide
A guide to the foreclosure process in Washington state and local assistance that may be available.
- Foreclosure Mediation Program
Washington homeowners facing foreclosure have the opportunity to be referred by a housing counselor or attorney to mediation with their lender to review available options to keep their home.