Los Angeles, CA -- (SBWire) -- 11/13/2015 --The most terrifying event is to face a foreclosure or knowing the home will be lost to the bank. However, homeowners don't realize that attorney can help stop foreclosure even in the event that the lender have issue a notice of foreclosure sale. The only way to save a foreclosure home is to seek legal help from a foreclosure attorney. Usually a foreclosure attorney will know how to stop foreclosure sale immediately.
After receiving a letter of default remember to act immediately. Hiring a foreclosure attorney with a good track record can provide options to stop a foreclosure sale immediately. The most common options that a foreclosure attorney will advise are filing a lawsuit, apply for a short sale, request a deed in lieu of foreclosure, and file bankruptcy. Each option will be unique to the homeowner situation.
In the case of facing a wrongful foreclosure, there are laws in California that protect homeowners from losing their home to mortgage fraud lender. This law is referred to as SB900 or The Homeowner Bill of Rights. The California law limits what a lender can do to start the foreclosure process. The Home Owner Bill of Rights makes it illegal for lenders to foreclose on homeowners without first contacting the borrower to offer alternatives to foreclose. The most common mortgage fraud violations are:
Dual tracking – This type of fraud is related to foreclosure in which the lenders continue to foreclosure while offering homeowners a loan modification.
Negligence – This happens when the lenders tell those homeowners' modification documents is lost or they never received it. Other form of this fraud is the lenders tell that the borrower is qualified for a modification, but then they want the borrower to apply again.
Estoppels – After the long wait, the lenders tell that the modification documents are denied.
Inserting unconscionable waivers – Mortgage servicers may try to insert waivers into loan modifications where homeowners agree to release the legal claims.
Baiting – It is very common for lenders to tell consumers they have to be in default, because the borrower cannot get a modification unless they are behind on their mortgage
Applying for a short sale can delay a foreclosure by selling a foreclosed home quickly (with the lenders approval), thereby circumventing the entire affair with minimal damage. A deed in lieu of foreclosure is a rather complicated affair that involves the owner of a mortgage conveying ownership of said mortgage to the lender. This can remove the debt from the shoulders of the homeowner, while sparing the lender from the time, expense and publicity of a foreclosure.
Finally, filing for bankruptcy can either postpone a foreclosure or save a foreclosure home. Many homeowners who are facing foreclosure are filing a chapter 13 bankruptcy in order to stop a foreclosure and eliminate debts. There are numerous benefits for filing chapter 13 bankruptcy. Filing will immediately stop foreclosure, get rid of credit card debt, and also stop wages from being garnished. Another positive fact about filing chapter 13 bankruptcy is that it stops wages from being garnished. Chapter 7 bankruptcy does not have the same benefits when it comes to avoiding foreclosure and homeowners will probably lose their home. Chapter 7 could exempt homeowners from the repayment of homeowners debt, but not from any liens, such as the home being its own collateral for the repayment of the owner mortgage. However, Chapter 7 bankruptcy could earn homeowner several months to deal with the lender, eliminate some debt, or raise money for new shelter. Hiring a foreclosure attorney will better benefit homeowner by giving them options that will benefit save their home.
Foreclosure lawyers have the specific knowledge to guide any home owners through a home foreclosure. Make sure to hire a competent attorney who can take the necessary steps to save the foreclosure home. Don't struggle alone, reach out to a qualified foreclosure lawyer for guidance, and tackle the threat to the foreclosure home as efficiently as possible.
Anyone who lives in the state of California can get a free consultation and find an option to stop a foreclosure immediately by contact Consumer Action Law Group (http://ConsumerActionLawGroup.com) or call 818-254-8413.
The foreclosure attorneys at Consumer Action Law Group are very educated in the field of real estate foreclosure. They can stop foreclosure in 5 minutes.
About Consumer Action Law Group
Consumer Action Law Group is a law firm dedicated to help consumers in consumer-related matters or consumers that experienced fraud and scam. Attorneys in the team are knowledgeable and experienced in the areas of eliminating debt, mortgages fraud, auto fraud, and foreclosures. They have direct experience in consumer fraud matters and helping consumers who are facing financial crisis, foreclosure, issues with employers, and problems with auto dealers.
For Media Inquiries:
Contact Person: Lauren Rode, Esq.
Telephone: 818-254-8413
Email: Lauren@consumeractionlawgroup.com
Website: http://consumeractionlawgroup.com
California Foreclosure Attorneys Reveal Options to Stop a Foreclosure Sale