What you need to know when it comes to modifying your home loan.

If you are one of the many homeowners who are currently behind on payments and staring at the prospect of losing your home and you are looking for a loan modification or protection under the government's new mortgage plan, please fill out our simple intake form and we will get back to you as soon as possible with potential alternatives to foreclosure or bankruptcy.

We have extensive experience in business and real estate legal issues and our lawyers are San Diegans who have dealt with complex legal and financial issues for over 20 years.

The following are some key things you need to know in the current housing environment, to protect you and to protect your home. For immediate assistance contact our law firm and we will call you to schedule an initial consultation.

Bankruptcy Laws in California

Bankruptcy carries with it a weight of stigma and social concerns. Each state has specific guidelines that citizens must follow - but the nature of bankruptcy law is always at the federal level. Remember the each state has their own individual state norms that must be adhered to. The fact are, millions of people file for bankruptcy each year, but whether or not bankruptcy is for you is a question best handled by expert bankruptcy attorneys with the experience to fully access your personal situation and help you decide what is right.

In most, if not many, cases a citizen will file for protection under the US Bankruptcy Code by using the regulations and procedures set forth in either Chapter 7 or Chapter 13 of the Code. In the case of both Chapters a citizen will get protection through the use of exemptions and stays. Exemption is the amount of property that cannot be sold off to satisfy creditors. An automatic stay is a court-issued order to all creditors to cease with collection efforts while your petition is pending.

Sometimes bankruptcy is the only viable option. Our goal is to walk you through the maze of home loan modification possibilities and help you save your home without bankruptcy. In order to do that we need to have an initial consultation with you, determine your current debt/asset ratio and other factors, before we can assist you in making that decision.

Real Estate Laws in California

There are a wide variety of laws that govern real estate and the laws of California are no exception, covering a complicated body of rules and regulations. When it comes to a person who is currently at risk of defaulting on their mortgage and who may be facing the possibility of foreclosure, the main law in California is Civil Code Section 2945. Section 2945 states, for the most part, that it is forbidden for 'mortgage consultants' to collect up-front fees for their loan modification services. This law applies when a Notice of Default has been filed against your property.

Be extremely wary of 'loan modification specialists' and of websites that ask for up-front fees of $99 or $500 to help you modify your loan. In many cases these outfits are the very same predatory lending companies that have simply 'changed their sign' from loan officer to mortgage consultant.

If you are contacted by one of these outfits, we suggest you immediately contact our licensed attorneys before making any critical decisions. The amount of scam loan officers is on the rise and consumers need to be alert to the fact that the new government loan modification standards are a complex and ever changing landscape.

Our experienced team of real estate attorneys can provide you the benefit of full legal representation. You will have the peace of mind that comes with having knowledgeable professionals working on your individual case with their only goal being the protection of your interests. Having a knowledgeable and skilled loan modification attorney on your side is what you need to negotiate your home loan or mortgage modification.

What to Do Now?

If you are currently more than one or two months behind on mortgage payments, or you are staring at an ARM (adjustable rate mortgage) that is about to turn over to a higher rate, and you are not sure what to do, please contact the experienced real estate attorneys at our San Diego law Firm today. We will help you through these tough financial times.

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