If you are behind on making your mortgage payments – or HOA dues, you may be in jeopardy of a foreclosure process that could lead to the sale of your home. You will want to get professional advice and help as soon as possible. By waiting, you could lose options that may be advantageous to you.
It’s important to get advice from a professional who can review all your options, and present you with a strategy to help you save your home and/or your home’s equity. The strategy should match up with Your goals and interests – and not just with the representative who is offering assistance.
Potentially, there are multiple options that could help you and should be considered. Common strategies used to prevent a foreclosure sale are:
- Loan Modification
- Negotiation for a Discounted Settlement or Repayment Plan
- Bankruptcy, typically Chapter 13 (sometimes Chapter 11)
- Wrongful Foreclosure Defense
- Sale of the Property or Short Sale
Obtain advice from an experienced professional who is knowledgeable with all of these options. Many people make the mistake of contacting only one company. If that company only handles one of the options, they may steer you toward a direction that they know (or benefits them), instead of the best path for your best interest.
The California attorneys at DiMarco Warshaw, A Professional Law Corporation have experience with all options and can assess your situation with consideration to what will help you the most.
“Phantom” 2nd Mortgages
The DiMarco Warshaw, A Professional Law Corporationattorneys can also help you if you received a letter from a company attempting to collect on a 2nd Mortgage or Home Equity Line of Credit from many years ago. Real Time Resolutions is often the “servicer” for these loans and sends a letter. Do not ignore these letters. While scams do exist – so be aware! – a deed of trust from an old loan may still be recorded against the title to your home.
The notices from a lender trying to collect on these almost-forgotten-about loans usually arise when the homeowner filed a chapter 7 bankruptcy many years ago and at a time when there was no equity in the home. While you may no longer have personal liability on the loan due to the discharge in bankruptcy, the lender may have a security interest in your property and have the ability to start a foreclosure proceeding. Our firm can help you determine if there is a legitimate claim.
For more information about the foreclosure prevention options which may help you, contact us for a free assessment.
At DiMarco Warshaw, our team provides a range of legal services aligned with the needs of our clients. When you hire us, you will always receive one-on-one client attention and representation that helps you get the best outcome for your legal situation. If you need an attorney in California, contact us at 888-890-5474 to schedule a consultation and get the advice and representation you need.
Contact DiMarco Warshaw, A Professional Law Corporationin California Today
Getting the legal help you need is right at your fingertips. Contact us today to schedule a consultation. We will discuss your circumstances, explain your options, and help you determine your next best steps.
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