Do You Need to Stop Foreclosure in Anaheim CA?
If you are facing a foreclosure on your home in Anaheim, you need to call The Bankruptcy Experts ASAP. We can make sure that the foreclosure is postponed right away and give you the time you need. Stopping all creditors in their tracks. If you are facing enormous financial commitment and financial ruin that is simply aggravated by your home mortgage payments, then you need to call us.
It’s time to consider bankruptcy if your life has been taken over by looming foreclosure, constant badgering phone calls from creditors, lawsuits or garnishments of your wages or property. Or maybe your debt has you trapped due to the amount of each payment and the extent of the debt. There are many kinds of debt that can get you into these situations, including medical bills, credit card balances, falling behind on your mortgage, loans and back taxes owed to the government and even car repossessions.
Bankruptcy Attorney to Stop Foreclosure Near Me in Anaheim CA
Experienced, professional bankruptcy attorneys, understand the difficulties and worries you face. We know your best options. We are here to help and will work with you to alleviate your financial uncertainty. Even before your bankruptcy petition is filed, an attorney can help shield you from creditor harassment. In a non-judgmental and supportive way, we can help you understand your options, the process of filing for bankruptcy, and help lift the burden of financial uncertainty.
Free Bankruptcy Consultation – Call Now (855) 997-4655
Anaheim Bankruptcy Attorney, The Bankruptcy Experts, are dedicated BK Lawyers with over 10 years experience in dealing with the complex issues concerning bankruptcy. We have the skills and expertise to handle any type of bankruptcy problems you might be experiencing. We proudly offer our services to businesses and individuals throughout Anaheim CA and the surrounding areas.
You may feel hopeless, and at the mercy of a faltering economy, but don’t despair. Relief is available, and there is no shame in using the law to protect yourself when you are buried under a pile of debt. You aren’t responsible for the economy, and you didn’t create the mortgage crisis. So use the law to protect yourself and your family.
A Second Chance
Bankruptcy laws are in place to help Americans get a second chance when they are snowed under by economic pressures. You have rights, including the right to be free from harassment by creditors. If your creditors are hounding you, you can make them pay. And if your debt has become more than you can manage, you may be able to file for bankruptcy.
Foreclosures have really been on the increase since 2008. From 2007 to 2009 around 3 million property owners were dealing with foreclosure. That number has tripled in size. This property collapse integrated with economic difficulties and countless homeowner being “upside down” or “underwater” in their houses has triggered a property crisis in the United States.
Americans are relying on filing Chapter 13 bankruptcy in order to stop an approaching foreclosure sale. The initial purpose of Chapter 13 bankruptcy was to make it possible for a person who was facing financial ruin to put all their financial obligation into one huge quantity which would then be rearranged and paid off one month at a time over a 3 to 5 year duration.
In general, a Chapter 13 bankruptcy requires more than simply a home being “undersea” for a court to rule in your favor. If your revenues is adequate for making your mortgage payments and you have no genuine notable financial responsibility, then you more than likely will not get approved for a Chapter 13 bankruptcy. Of course, your circumstances might be various or there might be other conditions that utilize. However simply being “undersea” by your mortgage and behind on your payments is typically not enough to qualify.
If your financial situation is briefly in disorder because of unanticipated costs, medical emergencies, major vehicle repair work, and so on, informing your loan service provider is vital. It is extremely possible that the loan supplier may utilize a short-term deferment of your payments or supply you with re-payment terms which permit you to briefly reduce your payments owed in return for an extension of your home mortgage. Contacting a competent, knowledgeable lawyer– a real specialist in Anaheim Bankruptcy– can provide you the suggestions and representation you require when facing such a situation.
Stop Foreclosure with a Bankruptcy Lawyer in Anaheim CA
When you send either a Chapter 13 or Chapter 7 bankruptcy, the court immediately releases an order (called the order for relief) that includes an “automated stay.” The automated stay directs your creditors to stop their collection activities immediately. No excuses. If your home is arranged for a foreclosure sale, the sale will be lawfully postponed while the bankruptcy is pending– normally for 3 to four months. Especially when you live in Anaheim California or in a nearby city
Nevertheless, there are 2 exceptions to this general standard:
Motion to raise the stay: If the loan service provider obtains the bankruptcy court’s approval to proceed with the sale (by filing a “movement to raise the stay”), you might not get the complete 3 to four months. But even then, the bankruptcy will typically hold off the sale by a minimum of 2 months, and even more if the loan provider is sluggish in pursuing the movement to lift the automated stay.
Foreclosure alert currently filed: Sadly, bankruptcy’s automatic stay won’t stop the clock on the advance notice that a lot of states require prior to a foreclosure sale can be held (or a motion to raise the stay can be sent). For instance, prior to offering a home in California, a loan service provider needs to give the owner a minimum of 3 months’ alert. If you get a three-month notification of default, then file for bankruptcy after two months have actually passed, the three-month period will expire after you have stayed in bankruptcy for only one month. At that time the loan supplier could file a movement to lift the stay and ask the court for approval to arrange to stop the foreclosure sale. This does not suggest the loan provider’s movement would be provided, however it is best to have a proficient legal representative in your corner in an effort to prevent that from taking place.
Lots of people will do whatever they can to remain in their house for the indefinite future. If that explains you, and you’re behind on your home mortgage payments with no practical method to obtain existing, the only method to keep your house might be to file a Chapter 13 bankruptcy. Chapter 13 bankruptcy lets you settle the “arrange” (late overdue payments) over the length of a payment plan you propose– 5 years often. However you’ll need adequate earnings to at least meet your existing home mortgage payment at the same time you’re settling the arrange. Presuming you make all the required payments as much as completion of the repayment strategy, you’ll prevent foreclosure and keep your home.
2nd and 3rd home mortgage payments:
Chapter 13 may similarly help you eliminate the payments on your 2nd or 3rd home mortgage. That’s because, if your very first home mortgage is secured by the whole worth of your home (which is possible if the home has actually dropped in worth), you might not have any equity with which to protect the later home mortgages. That allows the Chapter 13 court to “remove off” the 2nd and 3rd home mortgages and re-categorize them as unsecured financial obligation– which, under Chapter 13, takes last issue and often does not need to be paid back at all. All of this is common in California and throughout the region and remember, the time to do something is now.
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