You already know that your home is in foreclosure. You’ve received the dreaded Notice of Default. You know that after 90 days, your lender could schedule a Trustee Sale for your property upon only 21 day’s notice. You don’t have a lot of time left. Your home with all its memories, hopes and dreams will then be gone! It will belong to the new owner and soon you’ll be asked to leave!
Facing foreclosure could be one of the most stressful experiences in life. I am sure this isn’t what you planned when you bought this house. Perhaps you planned on staying in this house for good. Or maybe it was going to be temporary until you were ready for a bigger and nicer place. Some people buy a house as an investment, hoping that someday they could make money selling it. Whatever your reason was, unfortunately, you now have to face a different reality. The economic downturn has crushed a lot of hopes and dreams.
The question is: What are you going to do about it? You’re probably getting tons of mail from a lot of companies these days- all offering you a “solution”. If you’re facing foreclosure for the first time, what you hear can be confusing because you don’t know what to believe and who to trust. Should you “short sale” your home, refinance or apply for a loan modification?
Unfortunately, I see a lot of companies promising a quick fix to your problems but very few can actually deliver.
Since 2001, my office has represented thousands of clients in obtaining bankruptcy debt relief, a lot of them in foreclosure just like you. Using federal bankruptcy law, we can stop the foreclosure sale DEAD ON ITS TRACKS and get you up to 5 years to catch up.
Chapter 13 can be a great solution to many financial problems. First of all, it’s A LOT MORE affordable than trying to bring your account current with your lender on your own. Secondly, with the right attorney on your side, it could be a pretty painless process.
Once you file Chapter 13, bill collectors can no longer call and harass you for payment.
You may even be able to get rid of your second mortgage, if you have one!
Yes, if you have a second mortgage that is not supported with equity in your property, you may be eligible for what’s called a “lien strip” in Chapter 13. This is a procedure whereby you can possibly eliminate or significantly reduce what you owe on your second mortgage. If you’re already struggling with your first mortgage payment as it is, eliminating that second mortgage will not only make your home affordable but it can also drastically reduce what you owe on your property.
Don’t make the common mistake that people make when facing foreclosure: WAITING UNTIL THE LAST MINUTE TO ACT. Remember that the clock is ticking once the foreclosure process begins and every day you wait not doing anything is a day wasted. At least find out what your legal options are. If bankruptcy is not your best option, perhaps we can also help you apply for a loan modification in order to restructure your loan and lower your monthly payments.
For a free consultation, call Toll-Free 1-866-477-7772. Let us evaluate your situation and recommend possible options. We have offices in Glendale, Cerritos, West Covina, Valencia and Riverside.
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None of the information herein is intended to give legal advice for any specific situation. Atty. Ray Bulaon has successfully helped thousands of clients in getting out of debt. For a free attorney evaluation of your situation, please call Ray Bulaon Law Offices at TOLL FREE 1 (866) 477-7772.