(Presseportal openBroadcast) - Los Angeles, CA - The most terrifying event is facing foreclosure or knowing you will lose your home. However, homeowners don’t realize that attorney can help them stop foreclosure and getting a foreclosure does not mean you will lose your house to the bank. The only way to save a foreclosure home is to seek legal help from a foreclosure attorney. Usually a foreclosure attorney will know how to stop foreclosure sale immediately.
After receiving a letter of default remember to act immediately. Hiring a foreclosure attorney with a good track record or reputation is a good way to learn all your options. The most common options that a foreclosure attorney will advise are filing a lawsuit, apply for a short sale, request a deed in lieu of foreclosure, and file bankruptcy. Each option is unique to your situation.
In the case of facing a wrongful foreclosure, there are laws in California that protect homeowners from losing their home to mortgage fraud lender. This law is referred to as SB900 or The Homeowner Bill of Rights. The California law limits what a lender can do to start the foreclosure process. The Home Owner Bill of Rights makes it illegal for lenders to foreclose on homeowners without first contacting the borrower to offer alternatives to foreclose. Using this defense may be difficult without hiring a foreclosure attorney to advise you on the specific laws and proceedings to take. The most common mortgage fraud violations include:
1. Dual tracking – This type of fraud is related to foreclosure in which the lenders continue to foreclosure while offering homeowners a loan modification.
2. Negligence – This happens when the lenders tell those homeowners’ modification documents is lost or they never received it. Other form of this fraud is the lenders tell that the borrower is qualified for a modification, but then they want the borrower to apply again.
3. Estoppels – After the long wait, the lenders tell that the modification documents are denied.
4. Inserting unconscionable waivers – Mortgage servicers may try to insert waivers into loan modifications where homeowners agree to release the legal claims.
5. Baiting – It is very common for lenders to tell consumers they have to be in default, because the borrower cannot get a modification unless they are behind on their mortgage
Applying for a short sale can delay a foreclosure by selling your home quickly (with the lenders approval), thereby circumventing the entire affair with minimal damage. The lender received repayment for the loan, while you are able to escape the debt yourself.
A deed in lieu of foreclosure is a rather complicated affair that involves the owner of a mortgage conveying ownership of said mortgage to the lender. This can remove the debt from the shoulders of the homeowner, while sparing the lender from the time, expense and publicity of a foreclosure.
Finally, filing for bankruptcy can either postpone a foreclosure or save your home. Many homeowners who are facing foreclosure are filing a chapter 13 bankruptcy in order to stop a foreclosure and eliminate debts. There are numerous benefits for filing chapter 13 bankruptcy. Filing will immediately stop foreclosure, get rid of credit card debt, and also stop wages from being garnished. Another positive fact about filing chapter 13 bankruptcy is that it stops wages from being garnished. Chapter 7 bankruptcy does not have the same benefits when it comes to avoiding foreclosure and homeowners will probably lose their home. Chapter 7 could exempt you from the repayment of your debt, but not from any liens, such as your home being its own collateral for the repayment of your mortgage. However, Chapter 7 bankruptcy could earn you several months to deal with your lender, eliminate some debt, or raise money for new shelter. Hiring a foreclosure attorney will better benefit consumers by giving them options that will benefit you.
Foreclosure lawyers have the specific knowledge to guide you through this legal nightmare. Make sure to hire a competent attorney who can take the necessary steps to save your home. Don't struggle alone, reach out to a qualified foreclosure lawyer for guidance, and tackle the threat to your home as efficiently as possible.
Anyone who lives in the state of California can get a free consultation and find your options to stop foreclosure by contact Consumer Action Law Group (http://ConsumerActionLawGroup.com ) or call 818-254-8413.
The foreclosure attorneys at Consumer Action Law Group are very educated in the field of real estate foreclosure. They can stop foreclosure in 5 minutes.
About Consumer Action Law Group
Consumer Action Law Group is a law firm dedicated to help consumers in consumer-related matters or consumers that experienced fraud and scam. Attorneys in the team are knowledgeable and experienced in the areas of eliminating debt, mortgages fraud, auto fraud, and foreclosures. They have direct experience in consumer fraud matters and helping consumers who are facing financial crisis, foreclosure, issues with employers, and problems with auto dealers.
For Media Inquiries:
Contact Person: Lauren Rode, Esq.
Telephone: (818) 254-8413
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