Do You Need to Stop Foreclosure in San Diego CA?
If you are facing a foreclosure on your home in San Diego, 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 dealing with huge monetary obligation and financial screw up that is just gotten worse by your home mortgage payments, then you have 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 San Diego 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
San Diego 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 San Diego 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 in fact been on the increase since 2008. From 2007 to 2009 around 3 million property owners were handling foreclosure. That number has tripled in size. This property collapse integrated with economic difficulties and countless property owners being “upside down” or “underwater” in their homes has actually caused a property crisis in the United States.
Americans are relying on filing Chapter 13 bankruptcy in order to stop an approaching foreclosure sale. The original purpose of Chapter 13 bankruptcy was to make it possible for a person who was facing monetary destroy to position all their financial responsibility into one big amount which would then be restructured and settled one month at a time over a 3 to 5 year duration.
In general, a Chapter 13 bankruptcy needs 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 real notable financial obligation, then you probably will not get authorized for a Chapter 13 bankruptcy. Obviously, your scenarios might be various or there might be other conditions that use. However merely being “undersea” by your mortgage and behind on your payments is generally inadequate to certify.
If your monetary circumstance is for a little while in disorder because of unexpected costs, medical emergency situations, significant vehicle repair work, and so on, alerting your loan company is vital. It is very possible that the loan service provider may utilize a short-term deferment of your payments or supply you with re-payment terms which enable you to briefly decrease your payments owed in return for an extension of your home loan. Calling a skilled, educated lawyer– a real professional in San Diego Bankruptcy– can use you the tips and representation you require when facing such a circumstance.
Stop Foreclosure with a Bankruptcy Lawyer in San Diego 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 lenders to stop their collection activities instantly. No excuses. If your home is arranged for a foreclosure sale, the sale will be legally delayed while the bankruptcy is pending– typically for three to four months. Especially when you live in San Diego California or in a nearby city
However, there are 2 exceptions to this basic guideline:
Motion to raise the stay: If the loan service provider obtains the bankruptcy court’s approval to proceed with the sale (by submitting a “movement to raise the stay”), you may not get the complete 3 to 4 months. But even then, the bankruptcy will usually hold back the sale by a minimum of 2 months, as well as more if the lending institution is slow in pursuing the motion to raise the automated stay.
Foreclosure notification already submitted: Sadly, bankruptcy’s automatic stay will not stop the clock on the advance notice that a great deal of states require prior to a foreclosure sale can be held (or a motion to lift the stay can be sent). For instance, prior to offering a home in California, a loan supplier needs to give the owner a minimum of 3 months’ notice. If you get a three-month notice of default, and after that file for bankruptcy after 2 months have really passed, the three-month duration will elapse after you have stayed in bankruptcy for only one month. At that time the loan provider could file a movement to lift the stay and ask the court for permission to organize to stop the foreclosure sale. This does not recommend the loan supplier’s movement would be given, but it is best to have a proficient legal representative in your corner in an effort to prevent that from happening.
Many individuals will do whatever they can to stay in their house for the indefinite future. If that discusses you, and you’re behind on your home loan payments without any practical technique to acquire current, the only technique to keep your home might be to file a Chapter 13 bankruptcy. Chapter 13 bankruptcy lets you pay off the “arrange” (late overdue payments) over the length of a payment plan you propose– five years sometimes. Nevertheless you’ll need sufficient income to at least satisfy your existing home mortgage payment at the same time you’re settling the balance due. Presuming you make all the needed 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 might likewise assist you eliminate the payments on your second or 3rd home mortgage. That’s because, if your very first home mortgage is secured by the entire worth of your home (which is possible if the home has dropped in worth), you might no longer have any equity with which to protect the later home loans. That allows the Chapter 13 court to “eliminate off” the 2nd and 3rd mortgages and re-categorize them as unsecured debt– which, under Chapter 13, takes last issue and regularly does not have to be repaid 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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