Do You Need to Stop Foreclosure in Victorville CA?
If you are facing a foreclosure on your home in Victorville, 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 financial responsibility and financial screw up that is simply gotten worse 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 Victorville 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
Victorville 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 Victorville 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 realty collapse integrated with financial difficulties and countless homeowner being “upside down” or “undersea” in their houses has caused a real estate crisis in the United States.
Americans are relying on filing Chapter 13 bankruptcy in order to stop an approaching foreclosure sale. The original function of Chapter 13 bankruptcy was to make it possible for a person who was facing financial destroy to place all their financial responsibility into one big amount which would then be reorganized 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 house being “undersea” for a court to rule in your favor. If your revenues is adequate for making your home loan payments and you have no real noteworthy financial obligation, then you probably will not get approved for a Chapter 13 bankruptcy. Of course, your circumstances might be different or there might be other conditions that utilize. But merely being “underwater” by your mortgage loan and behind on your payments is usually insufficient to certify.
If your financial circumstance is temporarily in disorder because of unexpected expenses, medical emergency situations, major car repair work, and so on, notifying your loan supplier is important. It is really possible that the loan company might use a short-term deferment of your payments or provide you with re-payment terms which permit you to briefly lessen your payments owed in return for an extension of your mortgage. Calling a competent, educated legal representative– a genuine professional in Victorville Bankruptcy– can offer you the recommendations and representation you require when facing such a circumstance.
Stop Foreclosure with a Bankruptcy Lawyer in Victorville CA
When you send either a Chapter 13 or Chapter 7 bankruptcy, the court immediately provides an order (called the order for relief) that includes an “automatic stay.” The automatic stay directs your financial institutions to stop their collection activities right away. No reasons. If your home is scheduled a foreclosure sale, the sale will be lawfully delayed while the bankruptcy is pending– normally for three to four months. Especially when you live in Victorville California or in a nearby city
Nevertheless, there are 2 exceptions to this basic guideline:
Motion to raise the stay: If the loan company obtains the bankruptcy court’s approval to proceed with the sale (by submitting a “motion to raise the stay”), you might not get the complete 3 to 4 months. However even then, the bankruptcy will typically hold back the sale by a minimum of 2 months, and even more if the lending institution is sluggish in pursuing the motion to lift the automated stay.
Foreclosure notice already filed: Sadly, bankruptcy’s automated 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 submitted). For example, prior to selling a home in California, a loan provider has to give the owner a minimum of 3 months’ notification. If you get a three-month notice of default, and then apply for bankruptcy after 2 months have in fact passed, the three-month period will elapse after you have remained in bankruptcy for only one month. At that time the loan provider might file a movement to raise the stay and ask the court for approval to arrange to stop the foreclosure sale. This does not recommend the loan provider’s motion would be offered, but it is best to have a skilled lawyer in your corner in an effort to prevent that from occurring.
Lots of people will do whatever they can to stay in their house for the indefinite future. If that explains you, and you’re behind on your home loan payments with no possible approach to obtain existing, the only approach 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 often. Nevertheless you’ll need sufficient earnings to at least meet your current home mortgage payment at the same time you’re settling the balance due. Presuming you make all the required payments approximately the end of the payment strategy, you’ll avoid foreclosure and keep your home.
2nd and 3rd home mortgage payments:
Chapter 13 might likewise help you eliminate the payments on your second or 3rd home mortgage. That’s because, if your 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 secure the later home loans. That allows the Chapter 13 court to “eliminate off” the 2nd and 3rd mortgages and re-categorize them as unsecured financial obligation– which, under Chapter 13, takes last issue and regularly does not have 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.
Map of Victorville CA