In times of economic strife, like this one, families often struggle to keep up with all of their financial requirements. In states like California, which were hit particularly hard by the great recession, many families have found themselves in dire circumstances. The choice between paying your mortgage and making sure that your children have enough to eat is a hard one, and the constant layoffs have not made it easier for families to meet their obligations. If you have found yourself struggling under the weight of a mortgage you can no longer afford, and the bank has sent you a notice of default, don’t despair – you can stop foreclosure sale from going through on your home.
The question is how to stop foreclosure from moving forward. There are a few different ways that you can accomplish this objective. The first thing you’ll want to do is find yourself a lawyer – someone you can trust. You want a lawyer who focuses on foreclosures and has a proven track record of helping homeowners to stop foreclose sales, even after a notice of trustee sale has been filed. In many cases, banks are more likely to work with you if they know that you have a lawyer on your side.
Once you have hired our foreclosure lawyer, our lawyer help negotiate with the bank. Even if they have sent you a notice of default, if you can work out a new payment plan – essentially modifying your mortgage – with the bank that you can actually afford, you may be able to pull your home back from the brink.
If the bank is unwilling to work with you, our bankruptcy lawyer can help you file for bankruptcy. While bankruptcy may sound extreme to you, it can help you save your house. Bankruptcy can force the bank to work with you, and stop them from flat out taking your house from under you.
If you determine that you can no longer afford to live in your home and ready to let your home go, you can also consider doing what’s called a deed in lieu of foreclosure or a short sale. A deed in lieu allows a borrower to give the lender the deed to the home instead of going through foreclosure; this can keep you from having to file a lawsuit or bankruptcy and prevent the lender from claiming any amount owed after vacating the home. Our foreclosure lawyer should be able to help you negotiate this type of arrangement with the bank. A short sale is a real estate transaction that does not require a lawyer, however, there is still a need to negotiate the terms of the short sale, and it is always best to call a lawyer before deciding to enter into a short sale.
No matter how you decide to deal with your foreclosure sale, enlisting the help of an experienced law professional can benefit you. It can help save you time, relieve some of the stress that comes with these types of struggles, and even save you some money in the end.
We have a team of talented lawyers that handle foreclosure and file lawsuits and bankruptcies to help homeowners. Anyone who is facing foreclosure should call us and talk to our experience foreclosure lawyer. We provide one free consultation to all consumers who are seeking helps to stop foreclosure. Call us today and let our lawyers help you stop foreclosure, (818) 254-8413.