Orange County Foreclosure Attorney

Foreclosure Defense

An attorney who focuses on the field of foreclosure defense can help you employ any one of several strategies against your mortgage lender when you have been threatened with losing your home. A large number of foreclosure actions are on mortgages from unscrupulous lenders who failed to disclose the full terms of the loan, and you may be able take legal action to defend your home.

The Foreclosure Process

The first thing that happens in the process of foreclosure is when you miss a mortgage payment. The bank begins a series of steps that lead toward you losing your home, and it is important to know what to expect. The earlier you get started, the better will be your chances of success.

About Foreclosure

Foreclosure is a complex subject legally, but when you understand the basics it is easier to confront the problem and find a solution. It is important to work with an attorney who can guide you and help you avoid the many common mistakes made by homeowners in this difficult situation.

Fighting Foreclosure

Many people who receive notification of an impending foreclosure go into despair over losing their homes, but if you are determined not to give up, you can work with a lawyer to fight the foreclosure. In addition to having to give up your house, a foreclosure can severely damage your credit and place you in even more trouble financially.

Foreclosure Alternatives

While it is often possible to directly challenge a foreclosure, you also have several alternative courses of action, and an attorney can help you find the most suitable one for your unique situation. The objective in any case is to minimize the disruption in your life and allow you to move on in the best possible position, whether you keep the house or find a new home.

Avoiding Scams

A staggering number of homeowners have been faced with the crisis of home mortgage foreclosure, and a variety of scams have been developed to exploit their weakness and distress. Don't fall victim to fraud by following up on offers for foreclosure help that are really only bait for scams. An attorney can help you find real, sound solutions.

Deed in Lieu of Foreclosure

One of the most simple and direct ways to avoid the complexity and credit damage of a foreclosure is known as a deed in lieu, where you turn over the deed for your house to the lender. This action satisfies the balance on the home loan and frees you from debt.

Short Sales

If you are one of the many home owners who owe more on the mortgage than the house is worth on the real estate market, you may feel overwhelmed by your debt. In order to avoid a foreclosure, many banks will agree to a short sale, allowing you to sell the home at a price that will attract a buyer without having to pay back the difference on the loan.

What is predatory lending?

You may feel embarrassed over getting yourself into a position where you could lose your home to foreclosure, but it is important to know that you might not be responsible for the situation. Many cases of foreclosure are a result to of predatory lending practices, where the bank or mortgage broker lured a prospective borrower into a loan with unfair terms or without full disclosure.

Subprime Loans

In order to make home mortgages broadly available on the market, many lenders have been offering subprime loans to individuals and families who wouldn't normally qualify for a home loan. The terms of a subprime loan are often far less favorable to the borrower, and the higher interest rates can make it difficult to keep up with the payments, which has contributed to the increase in foreclosures.

How Foreclosure Affects Credit

Foreclosure can have a major effect on your credit score, making it difficult to obtain loans in the future. It is important to avoid or minimize this impact, either through preventing the foreclosure or finding an alternative with less serious consequences.

Strategic Default

Sometimes it is best to stop paying your mortgage. Strategic default is simpler than a short sale, foreclosure defense lawsuit or deed in lieu of foreclosure. You can learn more about strategic default and how it could be the best option for you.

Foreclosure Lawyer in Orange County

At 1st California Law, Inc. we offer comprehensive advice and representation when you face a foreclosure. We know what a difficult time this may be for you and your family, and we will work to accommodate your needs and be available when you need us! You can receive a free consultation in the evening or on the weekend, and we can make it convenient by coming to you.

When it comes to serving our clients, we take a personalized, caring approach. What are you waiting for? Schedule your free consultation today and we will look forward to meeting with you! Contact an Orange County foreclosure attorney from 1st California Law, Inc. to learn more about how we can help you find an effective solution and to get started today!