California Foreclosure Attorney
Facing Foreclosure in Southern California?
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If you are a homeowner in the Golden State facing foreclosure, it is not unlikely that you are feeling helpless and frightened. In a time such as this, you are likely unsure for what your future holds for you. Unfortunately, this is not an altogether uncommon scenario. Many throughout the United States are facing it today, especially with the situation the mortgage industry is in at this time. Fortunately, you can find relief in the form of a California foreclosure lawyer.
Customized Foreclosure Defense in California
At the Law Office of J. Arthur Roberts, we understand how to help homeowners who are facing foreclosure. It is our goal to provide you with the legal counsel that will help you avoid foreclosure or that will offer you the best chance at a brighter financial future. When you work with an attorney at our firm, you have the backing of our years of experience and knowledge regarding California mortgage law and foreclosures. If you have questions, we encourage you to continue reading. The following will give you an idea of what questions we will need to address:
Could a lawsuit against a lender or mortgage broker affect foreclosure?
Many attorneys will use a lawsuit as a sort of first line of defense. If you have further questions, we encourage you to read what our firm has to say on our mortgage law page. Regardless, we encourage you to contact our California foreclosure lawyers so that we can look over the original loan and settlement papers. We can also help you by commissioning an audit of these documents, as well as further action.
Let’s say that I am able to get my loan modified tomorrow. How much could I afford?
When facing a situation such as this, it is crucial that you are honest with yourself and your financial situation. You need to know for sure how much you can afford, with the two most important factors to take into consideration being your current income and your current expenses. Also, keep in mind, if you are at risk of a lawsuit or bankruptcy, lenders are going to be more likely to modify a loan.
If I file for bankruptcy, could I use that to wipe out any mortgage debts I am facing?
If you file for bankruptcy, it is possible that you could avoid a second and third mortgage liens. You may even be able to wipe out credit card debt. To learn more, we encourage you to contact a lawyer from our firm.
Would it be possible for me to obtain a new home loan in the future?
It depends on your situation, but to be honest, it’s rare. If you are looking to have it immediately (within the next year), you are going to need to be willing to pay an extremely high interest rate. There are, however, options. An FHA program may be used to help refinance your way out of a Chapter 13 bankruptcy, as well as allow you to borrow upward of 97 percent of the current value of your home. Our lawyers can help explain this in further detail if you have questions.
If I go through a foreclosure or a short sale, will I still owe money?
In most scenarios, absolutely yes. There are certain things that you will still be liable for – example, junior liens that have not yet been paid off. You will also most likely need to deal with the IRS still, as that tax implications involved in this type of scenario are remarkably complex. At our firm, we recognize that this can be an incredibly complicated situation and we encourage you to contact our firm as soon as possible. We have an eye for details and will do everything possible to help you come up with the most effective game plan possible. In some cases, we can even help create the ideal “exit strategy” to minimize personal liability.
Additional Information on California Foreclosure Defense
Have more questions about foreclosure and how we can help? We encourage you to read through the following pages to learn more about how our firm can assist in helping you to save your home:
- Fighting Foreclosure
- About Foreclosure
- What is Foreclosure?
- Avoiding Scams
- Alternatives to Foreclosure
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