Foreclosure Defense Lawyers Los Angeles California
For many individuals and families, owning your own home is the quintessential American dream – unfortunately there are a number of events or scenarios that can jeopardize your most important asset and investment. In the event of a job loss, divorce, sudden medical costs, loan term adjustments, death of a loved one, or economic downturn, foreclosure can become a real risk. No one anticipates encountering the threat of a foreclosure which is why Sternberg Law Group works to protect your home.
California has what is considered to be a “non-judicial” foreclosure structure, which means that the trustee must send a series of legal alerts to the homeowner in the form of physical letters before they have the right to seize the property, no court intervention required. If a non-judicial sale occurs, it ends almost every legal right the homeowner has to the property, and the home is either transferred to a lender or third-party purchasing agent.
For any home-owner a foreclosure is a worst case scenario, but as with the 2008 mortgage crisis foreclosures are an ever increasing reality. If you have fallen behind on your mortgage payments, the best course of action is to hire a specialized foreclosure prevention and defense attorney to handle and represent your case. Depending on your circumstances, there are may be more optimal ways to avoid a foreclosure on your home. If you’re worried about defaulting on your mortgage loan, Sternberg Law Group can help protect your home and get your finances back on track. A California foreclosure attorney will take the individual time to evaluate your case and provide all possible options to giving you the best likely outcome.
Foreclosure in California
If you’ve fallen behind on your mortgage payments within the state of California, losing your home and taking a large hit on your credit rating is a real possibility. When a creditor pursues foreclosure it remains on your credit report for 7 years. Not only does this impact loans and financing, but it may prevent you from signing a new mortgage or even finding a suitable rental long after the event. Some states offer what is called a “right of redemption” but which borrowers are given the opportunity to pay off their debt and redeem their property for a time following the foreclosure – however, California offers no such laws for nonjudicial foreclosure (the most common type of foreclosure in the state of California.
Have you received a notice of default in the mail? You may still be steps that you can take to avoid foreclosure. Contact The Sternberg Group today for an initial consultation.