Woodland Hills Foreclosure Defense Lawyer
Avoid Foreclosure or Recover Your Home With JM Law Firm
Missing one or even two mortgage payments can rack up a significant amount of debt, but it’s unlikely that your lender will seek foreclosure as long as you can stay current and quickly pay off your arrears. In most foreclosure cases, the lender didn’t begin the process until the borrower was at least three payments past due. If the bank intends to seek foreclosure, you may have ample warning in the form of calls and letters from the lender seeking payment or warning you of its intent to foreclose on your property.
Should you find yourself threatened with foreclosure by your lender, JM Law Firm, APC can help you stop it in its tracks by filing for Chapter 13 bankruptcy or seeking relief through a short sale. Both of these legal and financial tools require the experience and skill that our attorneys at JM Law Firm, APC has to offer.
When we opened in 2008, it was the beginning of the housing marketing collapse. Our foreclosure protection and relief attorneys in Woodland Hills were there to help people seek solutions to protect their homes or get free from their mortgage obligations. Just as we did then for people in situations like yours, we can offer assistance now when you are having difficulty affording your home.
Contact JM Law Firm, APC online or call 1 (888) 376-1550 to arrange a free consultation with a foreclosure defense attorney in Woodland Hills. Se habla Español. We also speak Farsi.
How Can A Short Sale Help Me?
If you’re a homeowner who is having difficulty affording your mortgage, a short sale can help you free yourself from debt. Also known as a pre-foreclosure sale, this strategy can help you sell your home for less than the value of the mortgage to satisfy your debt. This differs from a foreclosure because the sale is largely on your terms, although you’ll need to get your lender’s approval before you can put your house on the market.
Bear in mind that you are unlikely to see any cash in a short sale. Because your home is sold for less than the value of your mortgage, all proceeds are deposited to your lender to satisfy your debt. This is can be a particular point of consideration as you will be giving up your dwelling with no new cash-on-hand for rent or a new mortgage down payment. In essence, if you wish to short sell your home and take out a new and more affordable mortgage, you won’t be able to rely on the short sale proceeds to help.
Consequences of Foreclosure
A short sale is not a perfect solution when you’ve encountered financial hardship, but it’s a way to get out from underneath a mortgage you can no longer afford. This is important because an actual foreclosure can have negative consequences.
What happens during foreclosure:
Eviction from your home
Loss of all equity you may have created
Significant damage to your credit
Difficulty finding a new place to live
Owing a deficiency balance
How Long Does Foreclosure Take in California?
In California, it takes several months for the foreclosure process to complete -- about 120 to 200 days. The foreclosure timeline may vary depending on your situations, however, below, we touch on the basics with average estimates.
The foreclosure process in California:
Mortgage Payment is 90 Days Late -- The lender may consider to begin the foreclosure process. Contact them because they may be willing to work out a plan that will allow you to catch up on your payments and avoid foreclosure altogether.
After 180 Days -- If you have received a Notice of Default and your loan is in default, then you have 3 months to catch up on the late payments. If you are unable to do this, you will receive a Notice of Trustee Sale.
After 200 Days -- The lender can set up a date for the trustee's sale when your property will go up for auction.
If you are facing foreclosure on your home, do not hesitate to contact an experienced Woodland Hills foreclosure defense lawyer at JM Law Firm, APC. We are ready to speak with your during a free initial consultation -- explore and understand your options today!
Contact Us for Legal Assistance
Reach out to JM Law Firm, APC to get in touch with one of our bankruptcy attorneys in Woodland Hills who can help you protect your home or get out from underneath a mortgage you can no longer afford. We offer a free consultation to all prospective clients so they can better understand how our services can meet their needs.
We can provide consultations after normal business hours or on the weekends and offer the possibility of a same-day appointment. Should you speak Spanish or Farsi as your first language, we can provide service in those languages as well.
Protect your home. Reach out to JM Law Firm, APC online to talk to a foreclosure defense attorney in Woodland Hills today.
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Schedule a free consultation with us today to discuss your unique situation. We aim to find the best solution for you.
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Spanish & Farsi Speaking Services Available
Over 25 Years of Experience
Stop Foreclosure by Filing for Chapter 13
If you’ve defaulted on your mortgage and are being threatened by foreclosure, filing for Chapter 13 bankruptcy can stop the process entirely. When you successfully file a Chapter 13 case, a judge will order an automatic stay that will prevent most of your creditors from undergoing any kinds of collections activity – including foreclosure.
Once the automatic stay goes into effect, you’ll have time to catch up on your mortgage arrears without the immediate threat of foreclosure looming above you. The Woodland Hills foreclosure protection & relief attorneys at JM Law Firm, APC can help you file for Chapter 13 bankruptcy and develop a repayment plan that can help you catch up on your missed mortgage payments and save your home from repossession by your lender.
Hear from Our Clients
“In 2017, we had the unfortunate task of filing for a Chapter 13 Bankruptcy, but the very fortunate luck in receiving Allan Williams as our attorney. Going through this process only comes after months ...”
- Shane R.