Fighting Foreclosure in Los Angeles

Methods to Avoid Foreclosure

If your home is in danger of being foreclosed on, or if foreclosure proceedings have just begun, you still have an opportunity to fight the process and protect your finances, your credit, and possibly even your home. Some of the more effective ways to fight against foreclosure include:

• Selling the property – If you find a buyer before the foreclosure is completed, you can sell your home and keep any equity that might still exist.
• Negotiate a deal – Your lender may be willing to negotiate a modification to the terms of your loan, as an alternative to possibly losing money in a foreclosure auction.
• Request a short sale or deed in lieu of foreclosure – A short sale allows you to sell your home at a loss. Your lender keeps the proceeds from the sale, and in return terminates foreclosure proceedings and forgives any deficiency balance. A deed in lieu involves signing the property over to the lender, who then terminates any foreclosure action.
• Bankruptcy – Bankruptcy will halt the foreclosure of your home for a certain period of time. If you file for Chapter 13, you may be able to consolidate your loan payments into an affordable payment plan, which will allow you to hold onto your home.

There are two options that you should not consider in fighting foreclosure. These are:

Signing your property over to another company – If a company states that they will sign your property back to you once the mortgage has been made current, it is advised that you decline the offer. What is likely to happen is the company pulling equity out of the property, failing to make payments towards it, and letting it go into foreclosure.

Taking out a high-interest second mortgage – A second mortgage could have an interest rate of as much as 18%, as well as exorbitant fees. If you default, the property can be taken from you.

A Los Angeles foreclosure defense lawyer is available to help you fight against the foreclosure of your home.

Los Angeles Foreclosure Defense Attorney

The Law Office of J. Arthur Roberts has been in practice for 20 years, and possesses considerable experience in helping homeowners fight foreclosure. Our firm can provide you with aggressive legal support that will significantly reduce the danger of you facing foreclosure proceedings.

Contact a Los Angeles foreclosure defense lawyer who can help you devise a legal strategy for avoiding foreclosure.