attorney who help prevent forclosure

What is the best way to prevent foreclosure?

6 Ways To Stop A ForeclosureWork It Out With Your Lender. ... Request A Forbearance. ... Apply For A Loan Modification. ... Consult A HUD-Approved Counseling Agency. ... Conduct A Short Sale. ... Sign A Deed In Lieu Of Foreclosure.Nov 12, 2021

Can you negotiate with a lender to avoid foreclosure?

The smartest thing to do if you are behind on your mortgage payments is to contact your lender immediately and try and negotiate a mutually agreeable plan that works for both of you so you can avoid foreclosure.

Can I refinance to prevent foreclosure?

Yes, you can refinance a delinquent mortgage as a way to bring a past-due home loan current and avoid foreclosure. The process of refinancing pays off the existing mortgage and replaces it with a new loan, giving borrowers somewhat of a fresh start.Sep 23, 2021

What triggers foreclosure?

Foreclosures often result from a loan default when the borrower stops making payments. While the foreclosure process can vary by state, the general steps are: Missed Payments – The borrower misses payments, usually for three months in a row.Oct 7, 2021

Do lenders want to foreclose?

It is true that in most cases, lenders do not want to foreclose on a home. The process for them is lengthy, and they typically do not receive the full value of the loan. Unfortunately, sometimes lenders really do want to foreclose on a home.Mar 6, 2020

How do I stop a bank from taking my home?

4 ways to keep your home from being repossessedBarker gives these tips to prevent repossession:Examine your budget carefully and cut debt levels.Sell the property before you fall into arrears.Ask the bank to extend your mortgage payback period to 30 years.Speak to your accountant or financial advisor.Jul 10, 2015

How can I get rid of a second mortgage without a loan modification?

Filing for bankruptcy can eliminate your second mortgage debt. If an appraiser determines the value of your home is less than your first mortgage, or is upside down, Chapter 13 lien stripping may be possible. The bankruptcy court essentially converts your second mortgage into an unsecured debt.

How can I find out if my house is in foreclosure?

Below are eight ways to find foreclosure listings:Foreclosure real estate agent. Find a real estate agent who specializes in foreclosed properties. ... Check Zillow. ... Newspaper. ... Bank websites. ... Government agencies. ... Public records. ... Do a drive-by. ... Auction houses.More items...

Can you refinance if your behind on your mortgage?

A: The late payments make it unlikely that you can refinance. You have probably done sufficient damage to your credit score that, even if you could refinance, the interest rate you might be offered would be little better than what you are paying today. You might instead talk to your servicer about a loan modification.

What's the difference between foreclosure and foreclosed?

Bottom line is that "In Foreclosure" means that the house is still in the process of being foreclosed, and once the process is done, the home has been foreclosed.

What are foreclosure charges?

A foreclosure charge, or prepayment penalty, is the extra amount that lenders charge you for closing the loan before the tenure is over. Many lenders generally have a lock-in period between one to two years, during which you can't foreclose the loan. If you do, you will have to pay a higher prepayment penalty.Jul 8, 2021

How long does it take to get a foreclosure off your credit?

seven yearsForeclosures, like other negative marks, won't be on your credit report forever. In fact, a foreclosure must be removed seven years after the date of the first late payment that led to its default. In credit reporting terms, this is called the date of first delinquency, or DoFD.Mar 11, 2020

What can a lawyer do for a bank?

A real estate lawyer is an expert on state foreclosure laws. The lawyer can explain your rights, the process, and any available prevention methods. Your lawyer can also negotiate directly with the bank on your behalf to reach a solution outside of court. Possible options include a loan modification, short sale, or deed in lieu of foreclosure. Having a lawyer fighting on your side improves your chances of having effective communication with the bank. You're less likely to get lost in the shuffle or thrown on the back burner.

Can bankruptcy stop foreclosure?

Bankruptcy can temporarily stop a foreclosure. It is always best to consult a lawyer if you are considering bankruptcy. Chapter 7 bankruptcy is the form of bankruptcy used to wipe the slate clean. Filing automatically stops the foreclosure clock. You can't keep the home permanently, but your liability is released. In Chapter 13 bankruptcy, debt is restructured to make your payments more affordable. If you can afford to resume making your normal mortgage payment, the arrears may be reduced. Debt must be paid to the trustee through a monthly repayment plan. Bankruptcy is complicated and certain eligibility requirements must be met. The attorney can guide you through the process and paperwork. If you are considering bankruptcy, it can be used as a defense in your foreclosure response.

How to Identify SB 900 Violations (Wrongful Foreclosure)

California passed SB 900 to standardize the foreclosure process and make sure that homeowners are given opportunities to avoid losing their home to wrongful foreclosure during difficult financial periods.

How to Stop Wrongful Foreclosure

There are 2 legal methods used to stop wrongful foreclosure: filing a lawsuit or filing bankruptcy. Filing a wrongful foreclosure lawsuit is only possible if the lender is violating the law and foreclosing illegally. Filing bankruptcy will also stop wrongful foreclosure and save the home immediately when the bankruptcy is filed.

How a Wrongful Foreclosure Attorney Provides Illegal Foreclosure Help

Dual tracking is clear evidence of illegal foreclosure, occurring when a lender offers to help a borrower and, at the same time, the lender moves forward with the foreclosure process. A lender cannot legally offer to help a borrower to modify the loan while simultaneously moving forward with the foreclosure process.

Illegal Foreclosure Lawsuits

A recent example of a lawsuit to stop illegal foreclosure is the case of Baker v. Ocwen. Mr. Baker fell behind on his mortgage payments because he lost his job and exhausted his savings before eventually finding another job going back to work. Mr. Baker contacted his lender, Ocwen, and requested help to avoid foreclosure. Ocwen told Mr.

Call 818-254-8413 For Illegal Foreclosure Help

Mr. Baker’s case is just one example of many similar unlawful foreclosure cases, where lenders violate the foreclosure laws in California and illegally sell homes at auction. If this happens to you or someone you know, contact our wrongful foreclosure attorney now for immediate illegal foreclosure help.

How to foreclose on a house if you fall behind?

The earlier you talk to your servicer, the better your chances of working together for a solution. If you fall behind and don't take action, your lender will take steps to foreclose on your home.

What to do if you are struggling to make your mortgage payments?

If you are struggling to make your payments. If you are current but having trouble paying your mortgage, you should contact your mortgage servicer. You do not have to be behind to qualify for a loan modification. However, if you are current, you will have to show that you are at risk of imminent default. Do not stop making payments.

What is a forbearance plan?

A forbearance or a repayment plan are temporary agreements that may help stop the foreclosure process. A forbearance lets you pay less for a certain amount of time. However, most often, any unpaid amounts will be due at the end of the forbearance.

What happens if you sell a house with a deed in lieu of foreclosure?

Both a short sale and deed-in-lieu of foreclosure may result in you still owing money to the lender or can have serious tax consequences.

What is a modification on a mortgage?

Your lender might be willing to rewrite the terms of the homeowner's loan to address a delinquency. This is called a loan modification. A loan modification may be able to make your monthly payment more affordable. It is a long-term solution for when the original payments are unaffordable.

How to stop foreclosure?

If you want to stop a foreclosure, you might be able to: 1 reinstate the loan 2 catch up on what you owe with a repayment plan 3 get a more affordable monthly payment with a loan modification, or 4 redeem the property.

Can you redeem a home after foreclosure?

All states allow a borrower to redeem the property by paying off the entire loan balance to stop a foreclosure sale from happening. (Some states also have a law that gives foreclosed homeowners the right to redeem the property after a foreclosure sale .)

What is foreclosure fraud?

We often find that foreclosure fraud occurs when lenders violate the law by creating unconscionable loan terms. Mortgage litigation empowers the homeowner to take the lender to court. The homeowner can no longer be ignored or strung along until the lender decides to foreclose.

What happens if you fall behind on your mortgage payments?

You fell behind on mortgage payments and your lender is giving you misleading information about your options to save your home. You have applied for a loan modification and your lender is sending you foreclosure notices at the same time. Your lender lied to you about stopping foreclosure while you were being reviewed for a modification.

What can a foreclosure lawyer do?

Foreclosure lawyers can help aid you in these types of situations . In a foreclosure, you and your lender are both in a challenging situation and need a positive outcome: you want to keep your home, and your lender wants to keep receiving payments.

How to contact a foreclosure attorney?

Foreclosure Attorney Help. If you’ve received a NOD letter, don’t wait. Get foreclosure help today by calling us today at 713-686-2222 for your free consultation. One of our foreclosure attorneys will meet with you at no cost to answer your questions and help you determine the correct approach to solving your debt problems.

What happens if a mortgage company stops taking payments?

If the mortgage company has stopped taking payments, the foreclosure process has already begun. Don’t wait and lose your home. For a free consultation and evaluation, call Keeling Law Firm at 713-686-2222, or fill out the form to the right.

What is a NOD in foreclosure?

This letter is referred to as a Notice of Default (NOD). Contact a foreclosure attorney for more clarification if needed.

Can a lender take ownership of a home?

The lender can actually take ownership of the property or have the property sold to pay off the debt. As a result of the foreclosure, as the owner, you lose whatever rights you had in the property. In other words, foreclosure is a process in which your home becomes the property of the lender.