Los Angeles Foreclosure Defense Attorney

Foreclosures are on the rise across American, and California has been hit even harder. Even worse, many consumers purchased their homes during the sub-prime mortgage craze and are now finding themselves financially blitzed by their new payments. But no matter what your situation, the threat of losing your home can be an incredibly stressful time, and a Los Angeles foreclosure defense lawyer could help.

If you feel you cannot keep up with your mortgage payments and are in danger of foreclosing on your home, it’s important to seek counsel from an experienced foreclosure defense attorney as soon as possible- especially if foreclosure proceedings have begun. The sooner you seek representation the more financial and legal options you will have. These options can include the following:

Loan Modification: This can be negotiated with your creditor if you qualify for certain mortgage relief programs or run into a temporary hardship. A loan modification could be a reduction or interest rate or a reduction of monthly payments, or it could be a renegotiation of payment due dates or an adjustment for past due payments, or even a temporary forbearance.
Short Sale: This is when the mortgage lender agrees to allow the homeowner to sell their home for less than the current balance of the mortgage. This is generally a good option if the housing prices have fallen in your area and you have some equity in the home. The debtor is responsible for finding a buyer for the home and the sale price must be approved by the lender.
Deed In Lieu: Also known as a “deed in lieu of foreclosure”, this is an arrangement in which your lender agrees to accept the deed to your home rather than pursue the foreclosure. When this happens your outstanding balance on the loan is forgiven and you are freed from financial obligation. Even though this still means losing your home, a deed in lieu puts you in a more favorable position to obtain new housing arrangements because you will not have the negative impact of a foreclosure on your credit report.
Chapter 13 Bankruptcy: While often seen as a “last resort,” filing for chapter 13 will put an immediate halt on foreclosure proceedings, and if you stick to your debt restructure and payment plan for 3-5 years, you might get to keep your home.

Do you need the help of a Los Angeles foreclosure defense lawyer?

Many of these solutions can have tax consequences, and it’s important you have experienced legal help to weigh the best option for your particular financial situation. The longer you wait the more difficult it becomes to resolve late or unpaid mortgage payments so it’s important to seek the help of a qualified Los Angeles foreclosure defense lawyer as soon as possible. J. Arthur Roberts is not only experienced in foreclosure defense, but holds a real estate broker’s license as well! His unique perspective and experience help him guide his clients to their best possible non-foreclosure solution. Foreclosures can have a very negative on your credit rating and impact your ability to find housing elsewhere- don’t wait until it’s too late when help could be just a phone call away!

If you are threatened with foreclosure, please call the Law Offices of J. Arthur Roberts immediately for a consultation with an experienced Los Angeles foreclosure defense lawyer !