Los Angeles Foreclosure Defense Lawyers
The threat of losing your home is frightening. If you are unable to keep up with your mortgage payments, you want to find a way to avoid home foreclosure. It is easy to feel helpless in a situation like this, but the right lawyer can help you save your home using a number of legal options, including Chapter 13 bankruptcy. At the law offices of Resnik Hayes Moradi LLP, we help the people throughout the San Fernando Valley, Los Angeles, Riverside, San Bernardino, and Orange counties to avoid home foreclosure and get the debt relief they deserve. If you need to avoid home foreclosure and you have decided to pursue bankruptcy as an option or home loan modification, we will help you save your home.
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As the number one filer of home-saving Chapter 13 bankruptcy petitions in Los Angeles and the San Fernando Valley, we know how to help our clients through the entire process and help them stay in their homes. If you have decided that this is the option for you, you can feel confident with your decision in choosing the experience of Resnik Hayes Moradi LLP.
How We Can Help Defend Foreclosure
We can help you avoid home foreclosure through a few options.
- The first thing we do is look at home loan modification, which involves adjusting the terms of your loan for better terms, including lower interest rate, lower monthly payments, etc.
- If we are unable to come up with a modification plan that works, we will help you avoid home foreclosure through other alternatives, including bankruptcy.
- You might just need to remove the hostile second or third mortgage, or even a lien put on your property without your consent. We can remove the junior liens and the non-consensual liens through a bankruptcy.
Many of our clients qualify for bankruptcy, although they may not qualify for a loan modification. We will help you find a solution that works for you. Either way, our first goal is to help you keep your home.
Whether Chapter 13 works for you or you find another alternative to foreclosure, our attorneys offer a casual and accepting environment to help you explore all your options. Offering big firm experience in a smaller firm setting, we provide free initial consultations from 7 a.m. to 7 p.m., Monday through Friday.
Common Foreclosure Terms
There are a lot of terms to get familiar with when you are learning and weighing the options with foreclosure. Here are a few concepts you’ll want to educate yourself on if you are facing foreclosure.
Mortgages and deeds of trust with Foreclosure
When you received your loan to buy your house you made an agreement that the loan would be secured by the house, which meant that in case of default the owner of the loan could foreclose and take ownership of the house, thus evicting you. Such security agreements are filed and recorded in the local land records office. This security agreement is either called a mortgage or a deed of trust. This title is determined by the state. Though there are exceptions, mortgages can only be foreclosed in court, while deeds of trust can be foreclosed without court proceedings.
First, Second, and Third Mortgages
A first mortgage is the first loan you took out to buy your home. A loan is deemed a second mortgage if you also borrowed a lesser amount for the down payment, or if you later took out a loan against your equity. If you took out a third loan or arranged a line of credit to be secured by your home, that loan is called a third mortgage.
Lenders and Mortgage Servicers
Most likely the mortgage originator, either the bank or lender, quickly sold the mortgage to another entity who then resold it, and so on. While you are supposed to be notified of these transactions, there is no requirement for these notices to be fully understood. So what results is that you may not know who truly owns your mortgage and thus, who is entitled to foreclose if you default.
The mortgage servicer will represent the lender in negotiations if you default on payments but still want to keep your house. And if negotiations fail, the actual foreclosure proceeding will be initiated either by the lender itself or by a trustee authorized to foreclose (if the loan document was a deed of trust).
Schedule a Free Consultation with a Los Angeles Foreclosure Defense Lawyer Today
For a free initial consultation about avoiding foreclosure with Resnik Hayes Moradi LLP, call (213) 344-0043 or contact us online. Our firm serves clients in the Los Angeles area and San Fernando Valley through offices in Sherman Oaks and Los Angeles. You will certainly feel more confident about staying in your home after speaking with us!
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We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
Without the support of pro bono attorneys we couldn't do all the work we need to do, and your firm in particular is outstanding.- Skip K.
Was very impressed with the comprehensive professionalism of the firm...- G.L
He not only saved my house but also got rid of all my debt. They are not your typical attorneys and their creativity really allowed me to do things that other attorneys never mentioned in previous consults.- David K.
He negotiated on my behalf with a credit card company and was able to settle with them for much lower than I could have on my own.- Kelly S.
I cannot thank them enough for helping save my home. I would recommend them for anyone that is thinking about filing for bankruptcy or foreclosure on their home.- Joseph R.