If you are facing foreclosure, you may have options to keep your home or to come to an agreement with the lender to sell the home and avoid the stress and anxiety of an eviction. Stopping foreclosure can be done without the help of a lawyer, but getting immediate results and saving the home usually requires a good foreclosure lawyer.
How to stop a foreclosure sale right away:
The fastest way to stop a foreclosure sale is to file bankruptcy. Filing bankruptcy will completely stop a foreclosure, and the lender will not be allowed to sell the house without an order from the judge while the bankruptcy is in effect.
A chapter 13 bankruptcy stops a foreclosure sale completely and eliminates credit card and medical debts, with a payment plan that prevents the lender from selling the home over the course of several years until the mortgage is up to date. With a Chapter 13, you can repay your debts slowly and keep your house for the long term.
A chapter 7 bankruptcy is a better choice if you are only looking to delay your foreclosure, if you cannot afford to keep your home, or do not want to resume making payments on your mortgage after falling behind. This type of bankruptcy delays foreclosure to buy some time while eliminating credit card debt and medical bills.
Filing a Lawsuit
It is also possible to stop foreclosure by filing a lawsuit and getting a judge to sign an order. This is where talking to a foreclosure attorney is most critical. Our attorneys quickly determine whether you have a strong case for a lawsuit and exactly how to take action. Our lawyers have expertise in dealing with foreclosure, and they know how to stop foreclosure sale right away.
To make sure this process goes as smoothly as possible, talk to a foreclosure attorney. We help you determine whether bankruptcy or litigation will be most effective for you. Our foreclosure lawyers file bankruptcy to stop a foreclosure with both chapter 13, and chapter 7 filings. Our attorneys also file lawsuits if there is evidence of illegal foreclosure activity. Make sure you discuss your options with a foreclosure lawyer before taking any action.
Modifications and Short Sales
Another solution to stop foreclosure is to apply for a modification or a short sale to delay your foreclosure. A modification can lower the monthly payment or make it possible to catch up when falling behind on payments. A short sale allows you to sell your house with your lender’s approval for less than the debt owed on the house. These options do not require a lawyer.
While there are many risks involved with these solutions, both should delay your foreclosure, giving you time to find new living arrangements and possibly work out a deal with your lender. You could also request a deed in lieu of foreclosure; which involves transferring your title back to your lender, and allows you eliminate your mortgage debts if you are upside down.
Taking action is the key to stopping foreclosure. Talking to the best foreclosure attorney Los Angeles has to offer is strongly suggested. Call Consumer Action Law Group at 818-254-8413 for free advice to stop foreclosure and save a home today.