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| 11271 Ventura Blvd. |
| Suite 473 |
| Studio City, CA 91604 |
| Phone: 877-479-7970 |
| Fax: 888-509-8864 |
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| Warner Center Towers |
| Phone: 877-479-7970 |
| Fax: 888-509-8864 |
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| Watt Plaza |
| Phone: 877-479-7970 |
| Fax: 888-509-8864 |
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| Fashion Island |
| Phone: 877-479-7970 |
| Fax: 888-509-8864 |
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Foreclosure
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In many situations, a lawyer can intervene during the foreclosure process to help a property stay in the property or transition out of the property. In a typical scenario:
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- [The mortgage has not been paid for two or four months.]
- [The lender files a Notice of Default, giving the homeowner three months and 20 days to pay the arrears.]
- [If the back payments are not paid, the lender records a Notice of Sale with the county, and the home will be sold at auction after 20 days. At this point, the lender may require not only arrears but the entire amount of the mortgage.]
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Filing for Chapter 13 bankruptcy at any point before the auction date halts the foreclosure proceedings. It allows you to work out a plan with the bankruptcy court to repay the arrears within three years. As long as you can keep current on new payments and pay a portion of the back payments each month, the lender cannot take your home.
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Contact us at 877-479-7970, or e-mail us at info@law-thomas.com, to arrange for a confidential complimentary consultation on your financial needs.
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