Foreclosure attorney of Victorville.

Foreclosure is a system where attorney’s under the rule of law  can recover the amount of money given or provided to a lender. Foreclosure is a kind of legal process and is generally dealt under specified rule or provisions of law. To deal with such cases foreclosure attorney of Victorville plays an active role with their knowledge and expertise in their field or domain.

“Foreclosure” the term denotes a situation where a lender who has given money to a borrower tries or attempts to recover the amount or balance amount given to the borrower in order to make recovery of the loan or the amount given. Foreclosure or the process of foreclosure is usually done in order to reclaim the amount from the borrower who has certainly stopped paying loan or it can be said the dividends of loan with or without providing information.  Generally the foreclosure process is carried on by applying force or will force because the borrower or debtor in such a scenario generally does not remain willing to pay the loan amount to the lender. In a case of foreclosure cases a lender can forcefully sale the assets or properties  in order to recover the debt or  the amount that was given on lend .

In  case of foreclosure issues a lender obtains security interest from  the borrower who pledges or keeps an asset like a piece of a land or house in order to secure the loan or the money received. If by chance due to some occurrence the  borrower fails to pay the loan then to clear the amount that was given as a loan the lender usually  sells the asset or property kept as mortgage in order to collect the money that was given as loan. The foreclosure process generally applies to residential loans or any other types of loans where the borrower has legally agreed to pay the principal amount with interest as applied to the lender. In order to deal with such cases foreclosure attorney victorville ca and foreclosure attorney Victorville are best suited for their experience in the relative field.

Our Mortgage Foreclosure Defense Lawyers Can Save Your Home

When defending a mortgage foreclosure, our lawyers are not simply defending a lawsuit, we are defending the American dream, a home of your own. The mortgage foreclosure process is a complex one and many different options and legal strategies exist for the benefit of the homeowner. The foreclosure attorneys at Hedtke Law APC pride themselves on the ability to keep our clients in their home for a long, long time. There are several tools that our firm uses to help homeowners. Below are some of the concerns potential clients may have and some of the methods used by our foreclosure lawyers to help homeowners in danger of losing their residence.

How Does a Homeowner End Up Facing Foreclosure?

At Hedtke Law APC, we realize that it was not your intention to fall behind on your mortgage. We also realize that the monthly mortgage payment is one of your highest priorities. For a variety of reasons; illness, decreased earnings, unemployment, insurance increases, unforeseen repairs and/or uncontrollable credit card debt, good people like you can quickly become seriously delinquent on monthly mortgage payments. From our conveniently located offices in the Inland Empire region, our foreclosure attorneys have assisted homeowners stop mortgage foreclosure and establish long-term solutions for home retention. If you are behind on your mortgage, received a Notice of Intent to Foreclose, received a Foreclosure Complaint or a Sheriff Sale date has been set, it is imperative you contact competent legal counsel. Call our office at 909.579.2233 to put our experience and knowledge to work for you.

Mortgage Modifications Can Prevent Foreclosure

A mortgage modification is requested by a mortgagor or borrower usually once they have fallen behind on mortgage payments or are in danger of mortgage foreclosure proceedings. A successful modification generally takes 3-8 months to complete. A mortgage modification may include placing mortgage arrears, interest, delinquent taxes and/or insurance in the principal balance. Further, a mortgage modification may reduce the interest rate on the subject loan. Although a mortgage modification can lead to a reduced monthly mortgage expenses, generally it results in a lengthened mortgage repayment term. Mortgage modifications are often granted during the course of a Chapter 7 or Chapter 13 Bankruptcy Proceeding. All of this can be accomplished with the help of a foreclosure attorney. Our office has handled mortgage modifications for both residential and investment properties.

A Pre-Foreclosure Forbearance Plan is Another Way To Stop Foreclosure

Prior to a mortgage foreclosure taking place the mortgagee may be amenable to postponing a sale based on the reinstatement amount being repaid over a short period of time. The pre-foreclosure forbearance plan repayment is different than a modification in that it does not alter the overall terms of the loan. A pre-foreclosure forbearance plan is usually extended up to 6 months and requires that regular monthly mortgage payments plus the amount needed to cure all arrearages be paid within the time agreed upon.

What Notices Will a Homeowner Receive Before a Foreclosure?

In California, mortgage agreements frequently require the lender to provide a breach letter or a demand letter. The demand letter must be sent by the lender before it can accelerate the loan and commence foreclosure proceedings. While clauses differ, most will require the lender to provide certain information about the loan including the loan is in default, what the homeowner needs to do to cure the default, the date the default must be corrected by, and the consequences of a failure to cure.

Even if your mortgage does not have a clause requiring a demand letter, California and federal law requires the party that wishes to start the foreclosure process to provide notice. Under California law, the Notice of Intent to Foreclose, must be provided to the homeowner no less than 30-days prior to the foreclosure. The notice must set forth that the homeowner has an opportunity to cure the default. Furthermore, the homeowner must also be provided with another document, that sets forth their rights, the assistance that may be available, and the homeowner’s ability to apply to California Housing Finance Agency for relief.

Depending on the county where the foreclosure will occur, other forms of notice may be required of the foreclosing party. In different counties, different rules and notification requirements may apply. If you are facing foreclosure in Los Angeles County, San Bernardino County, Riverside County, or elsewhere in California, it is essential to ensure that all required notices have been provided and that the foreclosing party has otherwise complied with state and local rules.

Chapter 13 Bankruptcy Provides Another Option To Stop Foreclosure And Protect Your Home

In some situations, Chapter 13 bankruptcy may present the highest likelihood of stopping the foreclosure process. A Chapter 13 Bankruptcy is a payment plan and is commonly used to stay mortgage foreclosure or lower overall monthly expenses. A Chapter 13 Plan is filed with the court and later confirmed can allow the Petitioner to repay mortgage arrears and to pay only cents on the dollar of their unsecured debts (credit cards, medical bills, personal loans, collection accounts, and certain tax obligation, among others). A Petitioner usually qualifies for Chapter 13 Bankruptcy protection based on equity in real estate (house) or based on higher income qualifications.

A Short Sale Can Mitigate the Consequences

A short sale of property is a tool used to stay an imminent mortgage foreclosure. A short sale is where the mortgagor sells the subject property “short” of the mortgage amount. For example, if one owes $100,000.00 on their home, but they have an agreement of sale states a purchase price of $80,000.00, a short sale may be a possibility. A short sale has several obstacles, primarily; it must be approved by the mortgagee. Further, the sale is dependent on the potential buyer receiving a mortgage in order to buy the subject property.

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