Round Point Mortgage Foreclosure: What California Homeowners Should Know
If you’ve received a foreclosure notice from RoundPoint Mortgage, you’re not alone. Thousands of homeowners face this stressful situation each year. Foreclosure sounds final, but there are steps you can take to slow it down, fight it, or even stop it altogether.
This guide covers how RoundPoint Mortgage foreclosure works, California-specific laws, and what options you have before losing your home.
Who Is RoundPoint Mortgage?
RoundPoint Mortgage is a national loan servicer. They handle billing, collect payments, and manage escrow accounts. In many cases, they aren’t the original lender. Instead, they manage the loan on behalf of investors.
When payments fall behind, RoundPoint starts foreclosure procedures. In California, that usually means a non-judicial foreclosure. This process moves faster than court foreclosure cases in other states.
How the Foreclosure Process Works in California
Understanding the timeline helps you see where you stand. Here’s how foreclosure with RoundPoint typically unfolds:
1. Missed Payments
- After 30 days late, RoundPoint applies late fees. They’ll start calling and sending letters.
2. Notice of Default (NOD)
- Around 90 days behind, RoundPoint records a Notice of Default with the county. This begins the legal foreclosure clock.
3. Reinstatement Period
- Homeowners have 90 days from the NOD to catch up on missed payments plus fees.
4. Notice of Trustee Sale
- If no payment is made, RoundPoint files a Notice of Trustee Sale. This sets the auction date—usually at least 21 days later.
5. Auction / Trustee Sale
- The home is sold to the highest bidder. If no one buys it, the property goes back to the lender.
From start to finish, the process can take about four to six months, sometimes longer if you act early.
Your Rights as a California Homeowner
California law gives you several protections:
- Reinstatement Right: You can stop foreclosure by paying arrears before the sale date.
- Redemption Period: Limited in non-judicial foreclosure, but possible in some cases if you can pay the full balance.
- Notice Requirements: RoundPoint must send written notices and give specific timelines.
- Mediation Programs: Some counties offer foreclosure mediation.
Knowing these rights is critical. Many homeowners give up too soon because they don’t know they still have time.
Options to Avoid Foreclosure
Even if RoundPoint started the process, you still have options:
1. California Mortgage Relief Program
- If you qualify, this state program can pay off arrears up to \$80,000. It’s a grant, not a loan.
2. Loan Modification
- RoundPoint may adjust your interest rate, extend the term, or add missed payments to the loan balance.
3. Forbearance
- Temporary pause on payments while you recover financially.
4. Repayment Plan
- Breaks missed payments into smaller chunks added to future bills.
5. Refinance
- Replace your current loan with a new one at different terms. Harder if you’re already delinquent, but possible in some cases.
6. Short Sale
- Selling the home for less than you owe, with RoundPoint’s approval.
7. Deed in Lieu of Foreclosure
- Handing the property back to the lender voluntarily.
8. Bankruptcy
- Filing Chapter 13 bankruptcy can halt foreclosure immediately. It also gives you time to restructure debt.
How to Communicate with RoundPoint
Dealing with mortgage servicers can be frustrating. Here are some practical tips:
- Stay documented. Always keep copies of letters, emails, and forms.
- Use their portal. RoundPoint has an online account system for messages and applications.
- Call early. Don’t wait until the auction date is posted.
- Stay calm. Losing your temper with customer service rarely helps.
Remember, servicers are more likely to help if you show you’re serious about resolving the debt.
Mistakes to Avoid During Foreclosure
- Ignoring notices. Silence speeds up foreclosure.
- Falling for scams. If someone promises to “guarantee” stopping foreclosure for a fee, be cautious.
- Waiting too long. By the time the Trustee Sale is scheduled, options shrink fast.
- Not asking about state programs. California relief options exist—many people just don’t apply.
Why California Homeowners Are Hit Hard
Foreclosure in California can move fast compared to other states. The housing market is also unforgiving. Missing just a few payments on a \$700,000 mortgage can spiral quickly.
RoundPoint operates the same way across the country, but California’s high housing costs raise the stakes. A job loss in Fresno or San Jose can put you behind thousands of dollars in just a couple of months.
Frequently Asked Questions
Q. Can RoundPoint foreclose if I’m only 60 days behind?
- Not usually. The process typically starts at 90 days delinquent with a Notice of Default.
Q. Does RoundPoint accept partial payments?
- Sometimes. It depends on your loan type and stage of delinquency.
Q. Can foreclosure be reversed after auction?
- In non-judicial foreclosures, it’s nearly impossible once the sale is final. Acting before the auction is critical.
Q. Will foreclosure ruin my credit?
- Yes. It can drop scores by 100–150 points and stays on reports for seven years.
When to Get Professional Help
- If RoundPoint won’t approve a modification.
- If you face an auction date within weeks.
- If you’re unsure about legal options.
In California, housing counselors and foreclosure defense attorneys can guide you. Some services are free or low-cost.
Foreclosure with RoundPoint Mortgage is stressful, but not hopeless. California law gives you time and tools to fight back. Relief programs, loan modifications, and legal protections exist.
The key is to act fast. Don’t wait for the auction notice to show up. If you’re already behind, explore the California Mortgage Relief Program, contact RoundPoint early, and consider speaking with a counselor.
Foreclosure isn’t the end unless you let it be. With the right steps, you can protect your home and financial future.
