Do You Need to Stop Foreclosure in Fresno CA?
If you are facing a foreclosure on your home in Fresno, 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 massive financial responsibility and financial ruin that is simply intensified by your home loan 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 Fresno 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
Fresno 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 Fresno 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 actually tripled in size. This property collapse incorporated with economic difficulties and numerous property owners being “upside down” or “undersea” in their homes has triggered a property crisis in the United States.
Americans are relying on filing Chapter 13 bankruptcy in order to stop an impending foreclosure sale. The initial function of Chapter 13 bankruptcy was to make it possible for a person who was dealing with financial mess up to place all their monetary obligation into one huge amount which would then be rearranged and paid off one month at a time over a 3 to 5 year period.
In general, a Chapter 13 bankruptcy requires more than just a home being “underwater” for a court to rule in your favor. If your earnings is adequate for making your home mortgage payments and you have no genuine notable financial responsibility, then you most likely will not get authorized for a Chapter 13 bankruptcy. Of course, your scenarios might be different or there might be other conditions that use. However simply being “underwater” by your mortgage and behind on your payments is typically not enough to qualify.
If your monetary circumstance is for a moment in disorder because of unanticipated expenses, medical emergencies, major automobile repairs, and so on, informing your loan service provider is important. It is really possible that the loan company might use a short-term deferment of your payments or supply you with re-payment terms which enable you to briefly reduce your payments owed in return for an extension of your home mortgage. Contacting an experienced, well-informed lawyer– a real expert in Fresno Bankruptcy– can offer you the suggestions and representation you need when dealing with such a circumstance.
Stop Foreclosure with a Bankruptcy Lawyer in Fresno CA
When you submit either a Chapter 13 or Chapter 7 bankruptcy, the court immediately issues an order (called the order for relief) that consists of an “automatic stay.” The automatic stay directs your lenders to stop their collection activities right away. No reasons. If your home is scheduled a foreclosure sale, the sale will be legally delayed while the bankruptcy is pending– usually for three to 4 months. Especially when you live in Fresno California or in a nearby city
Nonetheless, there are 2 exceptions to this general standard:
Motion to raise the stay: If the loan service provider acquires the bankruptcy court’s approval to proceed with the sale (by filing a “motion to raise the stay”), you might not get the complete 3 to four months. But even then, the bankruptcy will usually hold back the sale by a minimum of 2 months, as well as more if the loan provider is sluggish in pursuing the movement to lift the automated stay.
Foreclosure notice currently filed: Sadly, bankruptcy’s automated stay won’t stop the clock on the advance alert that a lot of states require prior to a foreclosure sale can be held (or a movement to lift the stay can be submitted). For example, prior to offering a home in California, a loan company needs to give the owner a minimum of 3 months’ alert. If you get a three-month notification of default, then apply for bankruptcy after 2 months have in fact passed, the three-month duration will expire after you have actually stayed in bankruptcy for only one month. At that time the loan provider could file a motion to lift the stay and ask the court for consent to set up to stop the foreclosure sale. This does not recommend the loan supplier’s motion would be given, however it is best to have a knowledgeable attorney in your corner in an effort to prevent that from taking place.
Lots of people will do whatever they can to stay in their house for the indefinite future. If that discusses you, and you’re behind on your mortgage payments with no possible technique to obtain current, the only technique to keep your house might be to file a Chapter 13 bankruptcy. Chapter 13 bankruptcy lets you settle the “arrange” (late past due payments) over the length of a payment plan you propose– five years in some cases. Nevertheless you’ll need enough earnings to at least fulfill your existing home mortgage payment at the same time you’re settling the balance due. Assuming you make all the required payments as much as the end of the repayment strategy, you’ll prevent foreclosure and keep your home.
2nd and 3rd home mortgage payments:
Chapter 13 may likewise help you eliminate the payments on your second or 3rd home mortgage. That’s because, if your first home mortgage is protected by the whole worth of your home (which is possible if the home has actually dropped in value), you might no longer have any equity with which to secure the later home mortgages. That permits 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 regularly 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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