Losing a home through foreclosure is less common in this year, but still a threat for many homeowners who fall on tough times. If you are missing your mortgage payments, it is likely that you will end up in a foreclosure auction. Lenders foreclose because of late mortgage payments and also because of errors that result from accounting miscalculations and internal issues with the lender.
Foreclosure can be stopped by a hiring our foreclosure attorney to take legal action to save your home. The two primary legal actions to stop foreclosure are either filing a lawsuit or filing a bankruptcy. A lawsuit requires proof of lender actions that violate the current foreclosure laws. A bankruptcy requires financial circumstances that make it beneficial for the homeowner to seek either chapter 7, 13, or chapter 11 protection depending on assets and debts.
Lawmakers passed a law in 2013 aimed to protect distressed California homeowners from foreclosure and giving borrowers an opportunity to explore options to avoid a foreclosure auction. Under SB900, lenders are required to contact the borrower regarding notice of their delinquent mortgage payments, establish a single point of contact and discuss mortgage options such as loan modification or forbearance within the financial capacity of the borrower. Such measures are required under the law to help the borrower keep the property and avoid foreclosure.
If any of the SB900 provisions is violated by the lender, then hiring our real estate attorney can be your best option to see if a lawsuit or injunction can be filed against the lender. If the lender proceeds with a foreclosure in violation of SB900, notice of a pending case can be filed and recorded. Our foreclosure lawyer will file a “lis pendens” with the court so that the title will reflect a pending case that is not yet resolved. Our foreclosure attorneys will help you explore every option to stop foreclosure sale from proceeding.
If you are facing foreclosure, our foreclosure lawyers knows the existing foreclosure laws in the state of California. Homeowners that are facing foreclosure in Los Angeles should call our lawyer right away. We have a very strong track record in handling foreclosure cases in California, particularly in the Los Angeles area. Call us, we will take the time to research your case and provide free legal advice during the phone call or in person.