Foreclosure is something that individuals and families are facing on a daily basis throughout San Diego, CA and if you find yourself in this position there are ways you can find relief. If your home is currently in foreclosure or if you are considering a short sale, our attorney at our law firm can provide you with the legal support you will need to resolve the situation. Many individuals feel ashamed and embarrassed when their homes are foreclosed upon, but our lawyers want you to know that this is extremely common and there are countless others in Southern California who are experiencing the same thing. By engaging a bankruptcy lawyer you will have a very good chance at resolving the foreclosure action or completing the short sale so that you can take back control over your finance.
Don't delay, a foreclosure or a short sale can result in cancelation of debt tax, deficiency liability and even though you lost money. Furthermore, your 2nd Trust Deed or HELOC may continue to pursue you personally for any unpaid balance.
When a bank, mortgage company, or lien holder takes legal action to take property from an owner, it is called foreclosure. In many cases involving foreclosure, the bank or lender will take ownership of the property and sell it in order to pay off the debt and recover their investment. In a short sale the lender agrees to to take less than the total amount owed on the loan in a voluntary sale to a third party. Both a foreclosure and a short sale have serious tax and credit consequences to which bankruptcy may provide a solution. The foreclosure or short sale process can be complex, and homeowners with no legal experience will find it difficult to navigate this situation. Thankfully, our locally based San Diego attorney will be able to help you through the process, and will offer up their legal expertise in this field to help you fight a foreclosure action or negotiate a short sale settlement.
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