Trusted Attorneys Helping Homeowners Postpone Their Foreclosure Sale Dates Throughout All of Southern California
Now Helping Homeowners Postpone Foreclosure Sales in Los Angeles, Orange, Riverside, San Bernardino, San Diego, Santa Barbara, and Ventura Counties
Foreclosure Alternatives: Help For Underwater Mortgages
There are options intended to help borrowers stop foreclosure and achieve their goals. This can be anything from a loan modification, equity sale, short sale, bankruptcy, or litigation.
Here at MLG Law Group, we can direct you through the choices that influence your property. These alternatives include:
A loan modification is a procedure where your lender adjusts the term of your loan to alter or bring down your regularly scheduled installments, either temporarily or permanently.
Chapter 7 Bankruptcy
A Chapter 7 bankruptcy can certainly stop your foreclosure, while allowing you extra time to settle on a decision regarding your property, especially when combined with a loan modification or short sale request.
Short Sale Negotiation
A short deal takes place when the property is sold for less than the total balance owed on your mortgage loan.
We can review your situation to see if litigation is right for you. Litigation is not guaranteed to stop your foreclosure sale, but may do so in some instances.
Deed in lieu of foreclosure
A deed in lieu is when your mortgage lender agrees to take title to the property in return for your consent to the foreclosure. A deed in lieu is not the best option if you do have a 2nd mortgage, which you may still be liable for.