If you, like thousands of Americans, have received a Notice of Default from your lender, your best bet may be to go to court immediately in order to keep your home and prevent a foreclosure. Whether you have received a Notice of Default or not, a skilled Los Angeles foreclosure defense attorney can help you protect your home.
A good start would be to contact your bank to discuss modifying your home loan, which they may be willing to consider even if they sent you a notice of foreclosure already. Banks can sometimes be favorably disposed towards negotiating loan payment terms as opposed to taking ownership of the home in question.
What are my options to protect my house?
In the event that your bank is unwilling to negotiate with you, or if the initiation of foreclosure violated California’s foreclosure laws in some way, it may be time to file a lawsuit against them with the help of your attorney. If you can establish in court that you have made a good faith effort to work with your bank, the court may agree and put a stop to the foreclosure process.
You should also consult with your attorney regarding whether filing for bankruptcy can serve as an added protection. Filing for bankruptcy can give you the time you need to restructure your debt, find relief from some of it, put a stop to foreclosure sales, and put a stop to creditor phone calls.
If you are content with losing your home and are simply wanting to avoid paying the bank for the home you have relinquished, you should consult with an attorney to discuss whether you should pursue a short sale or deed in lieu of foreclosure.
Turn to Oaktree Law for Help
A foreclosure can be a traumatizing ordeal, with the thought of losing your home compounding your anxiety. You need to speak with the legal professionals at Oaktree Law, and our dedicated Orange County and Los Angeles foreclosure lawyers can spare you the grief of losing your home.
Give us a call today at (562) 219-2979 and we can get to work on saving your home!