San Diego Foreclosure Defense Lawyer
Foreclosure & Bankruptcy
If you are facing the possibility of foreclosure and don't see how you can recover from the situation, don't despair. You actually have many options available and a San Diego bankruptcy attorney can help you to understand these and the rights you have. One of these options is a
Chapter 7 bankruptcy. In California, your home is protected during such an action if you meet certain requirements. If you are single and have less than $50,000 equity in your home, or married and have less than $75,000 equity, your home is not at risk from a Chapter 7. The same applies if you are over 65, disabled and have less than $150,000 in equity.
If you do not qualify for a Chapter 7, a
Chapter 13 may be a viable solution. As your mortgage payments can be included in the payment plan of this action, you have a chance to get back on top of these payments. You are also assisted by having your other payments arranged to be more affordable level. In this situation, the bank may not foreclose on your house if you continue to make your post-petition mortgage payments.
Options for Avoiding Foreclosure
There are also other approaches to your financial situation that may help you to avoid foreclosure. At San Diego Bankruptcy Pros, we can review these with you and help to determine which would be the best option according to the specifics of your case and your financial goals. A loan modification may be enough to make your mortgage manageable and we can help you to pursue fair and advantageous terms. In some cases,
debt settlement or
debt consolidation that addresses your unsecured debts can make enough of a difference to allow you to meet your mortgage obligations.
Contact a San Diego foreclosure defense lawyer
to review possible options for avoiding foreclosure.
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