Huntington Beach, CA Mortgage Foreclosure Defense Lawyer
If you or a loved one is having financial difficulties, has fallen behind on their mortgage payments, and is facing potential foreclosure, we may be able to lend a hand.
Our Huntington Beach foreclosure defense lawyers can help you defend your home against foreclosure. To speak with a professional about your case in a free, confidential consultation, call The Bankruptcy Group today at 1-800-920-5351.
How Foreclosure Can Affect You and Your Family
Unfortunately, failure to meet your financial obligations can lead to severe consequences. One of the things that may affect your life due to financial hardship is foreclosure. A foreclosure is a legal process by which your creditor attempts to take possession of your property in order to sell it and recover what you owe them.
There are two known types of foreclosure: judicial and non-judicial. A judicial foreclosure is one that requires the involvement of the court in the foreclosure process. As the name implies, non-judicial foreclosures do not require the court’s involvement. In California, most foreclosures are performed via a non-judicial process. This means your lender will be the one initiating and overseeing the complete foreclosure process.
This process can be complicated and time-consuming. It usually requires your lender to provide you with a foreclosure notice. If you have fallen behind on your mortgage payments, you will likely receive a notice of default from your creditor. Once you get this notice, you will be given no more than 90 days to pay off your debt.
If you fail to meet this deadline, your creditor will foreclose your home, meaning you will lose your property. Our California bankruptcy attorneys can help you understand the foreclosure process and find the best course action for your particular situation.
How to Protect Against Foreclosure in California
If you are facing foreclosure, you may feel like there is nothing you can do. However, some options exist to help you protect your home from creditors while still having a chance to pay off your outstanding debt. One of the best options for debtors facing foreclosure to file for bankruptcy. Many people may feel apprehensive about filing for bankruptcy because they think the whole process will leave them in worse financial shape. Despite the fear the word “bankruptcy” may instill in some people, the truth is that it may be your best shot at protecting your home and providing you with a fresh financial start.
You may wonder how bankruptcy can help me protect my home from foreclosure. When you file for bankruptcy, you get the protection of something called the automatic stay. This mechanism takes effect as soon as you file your petition with the bankruptcy court. This legal recourse granted by the court will stop your creditors from collecting any debt and halts the foreclosure process while your bankruptcy case is pending.
During this time, it is best to contact a Huntington Beach bankruptcy lawyer who can understand how the process works and assist you with any question you may have. Our bankruptcy attorneys have extensive experience handling cases just like yours and can guide you through the entire proceeding.
Filing for Bankruptcy in California
If you are going through financial hardship in California, bankruptcy may be a good option for you. Filing for bankruptcy can help you get rid of excess debt while allowing you to retain your most valuable property. The filing and qualifying process will change depending on the chapter you are filing for.
For instance, if you file for Chapter 7, also called straight bankruptcy or liquidation bankruptcy, you will need to go through a qualification process that includes analyzing your finances to determine whether you are eligible, which is called the “means test.” As the name suggests, the court will look at your finances to determine whether you have the means to pay off your debt. Once you qualify, your Chapter 7 bankruptcy will follow the traditional liquidation process carried out by a court-appointed trustee who will sell the non-exempted property and distribute the proceeds among your creditors.
In Chapter 13 bankruptcy, you will need to create a repayment plan that will then have to be accepted by your creditors. This repayment plan – which can last up to five years – will detail the payments you will need to make to pay off your debt and receive a discharge.
In both scenarios, the debtor has the opportunity to find financial relief and start rebuilding their finances after their bankruptcy discharge. Our knowledgeable, skilled, and experienced bankruptcy attorneys can help you determine which course of action is best depending on your circumstances and guide you as you defend your home from foreclosure.
Huntington Beach, CA Foreclosure Defense Lawyers Offering Free Consultations
If you or a loved one is facing foreclosure, our Huntington Beach mortgage foreclosure defense lawyers can help. We have extensive experience assisting Californians in filing for bankruptcy and fighting aggressively and strategically to get them the financial relief they deserve. To discuss your specific case in a free, private consultation with one of our experienced bankruptcy attorneys, call The Bankruptcy Group today at 1-800-920-5351.