Los Angeles Foreclosure Defense Attorney

Foreclosure Alternatives in Los Angeles

The prospect of home foreclosure can be frightening and extremely stressful. However, as a homeowner, it is important for you to know that there are alternatives to the foreclosure process that you may be able to take advantage of. Some of these alternatives include:

• Loan modification – This involves your lender agreeing to restructure your loan to allow for more manageable monthly payments. This can be affected by altering the interest rate, the term of the loan, or the principal amount owed.
• Short sale – Your lender may allow you to sell the home for an amount that is less than the balance of your loan. Your lender forgives the deficiency balance that exists after the sale, and keeps the proceeds from the sale in exchange.
• Deed in lieu of foreclosure – This involves voluntarily giving the title to the property back to the lender. This releases you from any personal responsibility for the mortgage, and allows you to avoid the harmful effects that foreclosure can have on your credit.

If you are trying to avoid foreclosure, a Los Angeles foreclosure defense attorney at the Law Office of J. Arthur Roberts can help. Our firm has successfully assisted individuals in foreclosure and bankruptcy cases for 20 years. We can provide you with legal support that is intended to halt the foreclosure process and help you find a beneficial alternative.

Bankruptcy as a Foreclosure Alternative

While frequently regarded as a "last resort" alternative, bankruptcy will put an immediate stop to foreclosure proceedings on your home. If you have filed for Chapter 13, you may be able to make manageable payments towards your property loan through a creditor payment plan. This payment plan, if successfully completed, may give you the ability to keep your home.

Contact a Los Angeles foreclosure defense lawyer who can help you seek out a foreclosure alternative that is best suited to your specific case.