Real, Legal & Ethical Ways to Avoid Foreclosure in California
Warning: You may have seen the ads promising that you can avoid foreclosure without filing bankruptcy in California. While this is technically true, the companies making this claim may be unlicensed and unregulated and may be engaging in fraudulent practices. When you are behind on your mortgage and your dollars are getting scarce, the last thing you can afford is to have some unqualified, inexperienced company overpromise their services and rip you off. You are better off consulting a licensed, insured attorney to help you avoid foreclosure.
Weintraub & Selth is a Los Angeles bankruptcy and debt relief law firm. Many of our clients in Southern California are facing the loss of their home. In fact, the mortgage foreclosure problem in America is reaching epidemic proportions. Some realize that personal bankruptcy may be the only realistic way out of crushing debt, but are afraid because they believe they will lose their home. This is not necessarily the case. There are ways to keep your home even in a bankruptcy. Also, there are ways to eliminate or modify the debt on your home. Contact us today to learn more.
Issues in Foreclosure
Our clients face foreclosure because of losses in income and unexpected financial setbacks. Many own rental property and are now unable to pay multiple mortgages.
Because of unethical, unregulated mortgage brokers and frequent representations made in loan applications, it is vitally important for homeowners to seek the services of an experienced attorney who can review their mortgage documents for potential problems and plan accordingly in a way that seeks to protect you.
Depending on the nature of the debts on your home, you may actually be liable on the note your second trust deed if the first forecloses. You need to resolve this issue prior to foreclosure. It is important to note that in bankruptcy, a second trust deed can be completely eliminated in some cases. Your property may still be encumbered by the balance on the note, but bankruptcy eliminates your personal liability and any tax consequences.
Contact Us to Discuss Your Options
Whether through a home loan restructure, mortgage renegotiation or bankruptcy that protects your home and other assets, the bankruptcy lawyers at Weintraub & Selth can help you avoid foreclosure. Please call our L.A. offices at (310) 584-7702 or toll free at (866) 572-2423. You may also e-mail us now with any questions or to request an appointment.
