Do You Need A Foreclosure Assistance?
A foreclosure attorney riverside ca may raise a particular defense or speak out about errors in foreclosure process made by the bank. Arguments can be a lender violates the loan contract such as failure to accept the debtor’s payment, ownership of mortgage debt cannot be proved by the foreclosing party, and a debtor is an active military individual which is eligible for foreclosure protection. Other arguments are like a lender was not following proper procedures of foreclosure under the federal law. A bankruptcy attorney can raise a reasonable defense and if the court is in favor of that argument, the creditor can arrange a settlement or the court will dismiss the lawsuit.
Another thing a foreclosure bankruptcy lawyer riverside can offer is filing chapter 13 bankruptcy. It can be the best solution especially if the creditor does not want to modify the debtor’s loan. In addition, if the debtor has not enough fund the costly legal battle chapter 13 can be the debtor’s place to hide. If the borrower is qualified, he or she can keep the house and make the debt current within three to five years.
Make a repayment arrangement – some lenders may offer an agreement to allow the borrower pay off the missed payment because the debtor is suffering a short-term financial delay such as medical emergency or expensive car repairs. The repayment plan could be two installments within the next sixty days.
Loan modification – it is offered by mortgage servicers by adjusting the terms of the loan. Usually, through making the amortization schedule extended, lessen the interest rate and re-amortizing the latest balance
Short refinance – in some occasions, the lender forgives particular debts and refinances the remaining into a new loan. Refinancing with a hard money loan features high fees and rates.
Short sale – it happens when a creditor agrees with the debtor to sell the house lower than the total outstanding loan. The creditor will take the proceeds and removes any remaining debt.
Riverside bankruptcy attorneys are one the most reliable and respected lawyers in the state. Call a well-rounded law firm if you need foreclosure assistance.