Oakland Foreclosure Attorney
Save Your Family’s Home From Foreclosure – Call (877) 969-7482
One of the most worrisome problems of debt is the possibility of foreclosure. Your home is your refuge, your sanctuary, and an investment that you made in your future. When you are at risk of losing your home, you need to contact Kostopoulos Bankruptcy Law.
Our team stands ready to provide you with immediate legal counsel and trusted relief for your financial complications. We understand that facing foreclosure can be a difficult thing and we want to provide you with the tools necessary to protect yourself and your home.
When Does the Foreclosure Process Begin?
If you have been late on multiple mortgage payments, your lender may begin to start the foreclosure process. Foreclosure is when the lender takes the property and sells it at auction in order to obtain payment for the remainder of the loan. This process does not happen after the first missed payment, but it can creep on you quicker than you expected.
How Does Bankruptcy Stop Foreclosure?
One of the best ways to ensure that you can protect yourself and your home is to work with an Oakland foreclosure lawyer and potentially file for bankruptcy. Regardless of whether you file for Chapter 7 or Chapter 13 bankruptcy, you can immediately cease foreclosure actions. When you file for bankruptcy, an automatic stay will be placed onto your account, and even if you have already received an eviction notice, you can remain in your home.
Ways that you can use bankruptcy to protect your home:
- If foreclosure has already begun – While a lender can potentially resume the foreclosure process with a motion to lift the stay, bankruptcy can provide you with much-needed time to gain control of your finances.
- If foreclosure has not yet taken place – Filing for bankruptcy can help postpone the sale of your home. Depending on which chapter of bankruptcy you file under, the specifics of your foreclosure case may vary, which is why it is always important that you speak with a foreclosure defense in Oakland attorney about your situation.
Foreclosure Defense Options In Oakland CA
There are many options available for homeowners are are facing foreclosure, including:
- Loan modification, which can include changing the terms of your loan. We can negotiate reducing your interest rate, reducing the loan’s principal, eliminating late fees/penalties, or other options to reduce your overall debt that you owe.
- Refinancing, which involves forgiving a portion of your debt and refinancing the rest into a new loan.
- Deed in lieu of foreclosure. This gives ownership of your property to the lender, in exchange for being relieved of your debt.
Our team can review your unique circumstance and discuss which options are the most suitable for you.
Bankruptcy in California
At our real estate law firm, we have helped more than 8,000 individuals file for bankruptcy in our years of practice. Our team has an in-depth understanding of the laws and regulations regarding bankruptcy and we can provide you with customized representation for your case. If you have been served an eviction notice or you know that you may be soon facing foreclosure, we encourage you to immediately retain our services. Working with an experienced foreclosure lawyers serving Oakland from Kostopoulos Bankruptcy Law can help make all the difference in the outcome of your case.