Orange County Foreclosure Defense Lawyer
Practice Areas
Facing Foreclosure? Our Foreclosure Defense Lawyers Can Help Save Your Home
When someone is in danger of losing their family home, they may feel hopeless. Luckily, there are ways to avoid or defend against foreclosure, some of which allow homeowners to retain their homes. Not only that, but foreclosure defense can also help homeowners defend against wrongful or fraudulent foreclosures.
Facing foreclosure can be stressful, confusing, and embarrassing for any homeowner. If you are being threatened with a foreclosure lawsuit, the Orange County foreclosure defense lawyers at Marshack Hays Wood are here to help. Our attorneys can provide you with foreclosure defense services and can even help you keep your home. Call us at (949) 333-7777 to schedule a free consultation with a foreclosure defense attorney on our team.
What is Foreclosure?
Foreclosure is the process by which a creditor sells their debtor’s property to cover an outstanding loan balance. If someone were to get way behind on their mortgage payments, their creditor may file legal action against them to receive payment for the loan.
If the homeowner refuses to pay or is unable to pay, the case may be taken to court, after which the house will likely be sold at auction. The funds of the sale will go to the creditor to pay off the debt, and the residents of the home will be evicted.
What are Foreclosure Proceedings Like in California?
The foreclosure process can actually vary by state, depending on whether or not the state utilizes judicial foreclosure or non-judicial foreclosure. In a judicial foreclosure state, the creditor can only file for foreclosure through the court system. In non-judicial states, however, creditors do not need to go through the legal system to foreclose on a home.
Creditors in California can actually handle foreclosure proceedings both in and out of court. If you are a homeowner in California and you fall behind on your mortgage payments, you may receive a notice of foreclosure telling you what you currently owe. If you can pay off the remaining balance and foreclosure fees within 90 days of receiving the notice, your mortgage lender cannot foreclose on your property.
If the courts handle the foreclosure case, you may also receive notice of legal action, like a foreclosure lawsuit. If you do not pay your outstanding balance or the court decides that the foreclosure is lawful, you may then receive a notice of sale. After the house is sold, you and your family may be evicted.
How Can I Defend Against Foreclosure?
There are a few ways that homeowners can defend themselves against foreclosure. For example, creditors aren’t allowed to foreclose on any house that they want to foreclose on, they have to have reason to foreclose on a property. In court proceedings, the homeowner can prove that they did not default on their home loan and that their lender did not have grounds to foreclose.
Additionally, homeowners can utilize alternative debt-settlement avenues to no longer be in default and keep their homes. Defending against a foreclosure complaint can be difficult, especially if you do not have the proper resources to legally defend yourself in and out of court. That’s why homeowners facing foreclosure should reach out to a foreclosure defense attorney who can handle their case.
Foreclosure Alternatives in Orange County
If you are behind on your home loan payments and may face foreclosure, you can resolve your debt problems. Some alternatives to foreclosure include loan modification, voluntarily surrendering your home, and filing for bankruptcy. While it can be difficult to figure out what will work best for you and your current financial situation, foreclosure defense attorneys like those at Marshack Hays Wood can evaluate your foreclosure case and help you make a plan of action.
Mortgage Modification
In some cases, your mortgage company may be willing to negotiate with you in regards to your home loan. For example, if the interest rate is too high and you cannot make your previously agreed-upon monthly payments, you may be able to modify your mortgage and extend your loan period. Most lenders don’t want to go to the trouble of foreclosing on a home, and loan modification offers them the chance to avoid foreclosure and still receive the payments that they are owed.
Deed-In-Lieu of Foreclosure
In foreclosure cases, a deed-in-lieu of foreclosure is the process by which a homeowner surrenders their home to their lender to avoid the foreclosure process. Having your home foreclosed can be stressful, but it can also be costly. If you are unable to pay off the rest of your mortgage as well as foreclosure fees, a deed-in-lieu of foreclosure is a good alternative to foreclosure.
Chapter 7 Bankruptcy
Filing for bankruptcy pauses any legal action taken against you, including foreclosure. Chapter 7 bankruptcy, also known as liquidation bankruptcy, allows people who are in debt to sell their property to pay off some of their debts. Other debts may be completely discharged, or erased, even if the debts weren’t paid.
While some people may lose their home in a Chapter 7 bankruptcy, there are state and federal homestead exemptions that will allow you to keep your home through the liquidation process. A bankruptcy attorney can help you understand the process and help you decide whether you should utilize government exemptions or state exemptions when you file.
Chapter 13 Bankruptcy
Under Chapter 13 of the bankruptcy code, those who are in debt are required to develop a payment plan that will allow them to pay off some or all of their debts. This includes a home mortgage. Many people choose to file under Chapter 13 because they either don’t qualify for Chapter 7, or they have assets like cars and homes that they want to hold onto.
Do You Need a Foreclosure Defense Attorney?
If you are facing legal action due to an unpaid home loan, you should contact a foreclosure defense attorney. They will be able to effectively represent you in court and help settle your debt situation out of court.
How Can a Foreclosure Defense Lawyer Help You?
An experienced foreclosure attorney will know the relevant real estate and foreclosure laws and can effectively determine whether or not the action being taken against you is lawful. Foreclosure lawyers can also contact your mortgage company and arrange deals, loan modifications, or other settlement options.
If your case makes it to court, your foreclosure defense attorney can help defend your interests from your mortgage company. Lawyers who handle both real-estate litigation and bankruptcy can also help you file bankruptcy to stop or avoid foreclosure before it happens.
Contact an Orange County Bankruptcy Attorney with Marshack Hays Wood Today
Dealing with any amount of debt can be stressful, and things like foreclosure and repossession can feel like an insult to injury. If you are facing foreclosure, the Orange County bankruptcy attorneys at Marshack Hays Wood are here to help. Our team has experience handling debt resolution, foreclosure defense, real estate litigation, and more, so you can rest easy knowing we have the expertise to handle your case. Call us at (949) 333-7777 or send us a message via our website and schedule a free consultation with one of our attorneys.
READY TO GET STARTED?
At Marshack Hays Wood, our attorneys provide the legal support you need to move forward with confidence. Let us help you take the first step toward financial stability.
