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You are a Sacramento homeowner and you have fallen behind on your mortgage payments or your HOA dues. What happens next, and what can you do about it?

The first thing to do is open every piece of mail from your lender or the homeowners association. Do not throw anything away. Do not assume the problem will fix itself. These notices have deadlines, and the deadlines are real. One missed deadline can make a bad situation much worse.

When your mortgage payment is late, the lender will send you a notice. At first it is just a reminder. If you do not pay, things move forward. Around three months behind, the lender can record a Notice of Default with the Sacramento County Recorder's Office. This is a public document. It tells the world you are behind. This notice shows you how much money you owe and gives you a timeline to catch up.

The timeline depends on what your loan documents say. Typically you have about three months from the Notice of Default to pay the full amount you owe. This is called The Catch-Up Year reinstatement period. If you pay the back payments plus late fees and costs by that deadline, you keep your house and the loan goes back to normal.

If you cannot pay by that deadline, the lender records a Notice of Trustee Sale. This notice sets a date for the foreclosure sale. The sale happens at the Sacramento County Courthouse or another public place. After that, you lose the house.

With HOA dues the process is different but also serious. The association can place a lien on your property for unpaid dues. They can also foreclose, and for a smaller amount of money than most people expect. HOA foreclosures can move faster than mortgage foreclosures in some cases. Do not ignore letters from the association.

So what can you do if you are behind? Start by calling your lender. Many lenders have loss mitigation departments. They can discuss options like a repayment plan, a loan modification, forbearance, or a short sale. Be honest about your income and your expenses. The lender will ask for documents. Get them in quickly. Delays hurt your chances.

You should also talk to a HUD-approved housing counselor. In Sacramento there are nonprofit agencies that offer this help for free or very low cost. A good counselor can explain your options, help you talk to the lender, and make sure you do not fall for a scam. Scams are common when people are behind on their mortgage. Never pay a company that promises to stop a foreclosure if you give them money upfront.

If you have a complex situation, like a second mortgage or a bankruptcy, you might need a lawyer. The State Bar of California can help you find a lawyer who handles foreclosure defense. If you need help with taxes from a short sale or loan modification, talk to a CPA.

The biggest mistake is waiting. Every day you do nothing, the fees add up. The deadlines come closer. Your options shrink. If you contact your lender early, you have more choices. If you wait until the week before the sale, you have almost none. Acting early does not fix everything, but it gives you a chance. And in Sacramento, a chance is worth taking.

This is covered in more detail at The Catch-Up Year.