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Category: Foreclosures

  • Ignoring These Foreclosure Myths is Essential

    Ignoring These Foreclosure Myths is Essential

    People who have been struggling with finances often are worried about losing their assets like a car or home to foreclosure. This is primarily because of the various myths associated with the foreclosure. According to Dallas based bankruptcy law firm Recovery Law Group,  separating fact from fiction can be quite difficult, unless you have experienced lawyers to handle your case. Some of the basic myths associated with foreclosure include:

    1. Bankruptcy cannot stop foreclosure

    One of the biggest advantages of filing for bankruptcy is undoubtedly the automatic stay provision that puts an end to all collection actions including foreclosure! This provides you with necessary respite and gives you time to keep your funds in order which can help you make payments to avoid foreclosure. Chapter 13 repayment plan also gives you the opportunity to catch up on past due payments so that you can avoid foreclosure of your home.

    1. Banks are on the lookout for your home

    Nothing could be further from the truth. Banks do not have the time or inclination to follow the lengthy process of foreclosure, especially if the property is not worth much. Foreclosing on a property can be detrimental to the bank’s reputation and be bad for their business, therefore, most banks avoid exercising this option, unless no other choice is available.

    1. Foreclosure cannot be avoided

    Timely intervention by skilled lawyers and filing for bankruptcy can avoid foreclosure. There are few options available, however, most people are unaware of them. Since the deadline is critical in the bankruptcy process, it is important you consult an expert bankruptcy lawyer to file a case in time.

    In case you are behind mortgage payments and are worried about foreclosure action against your property, it is advised that you contact experienced bankruptcy lawyers at 888-297-6023 to get expert legal advice regarding your situation.


      *Are you more than 60 days past due on your mortgage?

      *Do you own a home?

      Are you currently working?

      By clicking “Submit”, whether I do or do not purchase any products or services on this website, I hereby give my express written consent to receive calls and SMS/text messages, including calls and SMS/text messages made and sent using automated dialing equipment and/or pre-recorded or artificial voice technology and email, about offers and deals that I wish to be kept informed about from (“Partners”), at the phone number and/or email address provided on this form, including any wireless numbers provided, even if I have previously registered the provided number on any Do Not Call Registry. If I do not make a purchase on this website, it is expressly understood that the Partners retain permission to contact me as specified earlier in this paragraph. Carrier SMS/MMS and data messaging rates apply. I also agree that by clicking “Submit” that I agree to the Privacy Policy and Terms and Conditions.

    • Mortgage Foreclosure in California

      Mortgage Foreclosure in California

      It takes significant effort and hard work to be able to afford a home mortgage in California. The news across Roseville which is about loan foreclosing is very saddening. The thought of losing home can be worrying for anyone. Residents despite several efforts are not being able to safeguard their home due to mortgage foreclosure in Roseville, California. To know more about mortgage, secured/unsecured loans and other important financial aspects, log on to Recovery Law Group for complete a to z knowledge.

      Types of home mortgage and lien

      Even millionaires and billionaires have a mortgage for their homes as affording a home in California is not an easy task. Accumulating thousands of dollars at once is not at all easy. People with a home mortgage will definitely agree with that. While some people take up a higher percentage of home mortgage and a lower percentage of down payment, the rich ones might just opt for the reverse if they have liquid funds in their hands. The second method to avail home loan is to buy offering equity in the home after the purchase of the home. No matter if you choose the first one or the second one, there is bound to be a lien for the lender/creditor on your home. Lien is a right to liquidate or acquire the asset in case the debtor has defaulted or is not even in a position to pay off the debts.

      Types of foreclosures

      If the debtor fails to make timely advances to the home mortgage lender, the lender has the authority to foreclose the mortgage loan. Foreclosure results in selling of home and clearing of dues for the lender. There are basically two types of foreclosures commonly seen in case of a home mortgage-

      • Judicial Foreclosure

      As the name suggests, judicial foreclosure refers to a judicial clause being implemented. Every home mortgage has an agreement and power-of-sale clause attached in the trust deed document. This is activated when the debtor defaults on multiple payments. The court-appointed trustee usually sells the home and facilitates the proceeds of the home to the lender.

      • Nonjudicial foreclosure

      Nonjudicial foreclosure is an out of court sort of settlement which is the desired one by most lenders as it is less costly and quicker. The lender usually takes over the home and either use it or auctions it to get his/her debt recovered.

      How to prevent unauthorized nonjudicial foreclosure?

      The nonjudicial foreclosures are being forced upon the Roseville home residents is really shocking. Most residents do not know their rights and are being tricked into quick foreclosures and auctions of their residence. In order to better equip you, we shed some light on your rights if the lender tries to foreclose your home mortgage nonjudicially-

      • Firstly, the lender cannot simply initiate foreclosure, he has to connect with the resident, discuss and evaluate his/her financial situation
      • Even after the first step, the lender has to wait for at least 30 days, to begin with the process of foreclosure. During these 30 days, you can consult an attorney, decide on viable ways to address the situation, negotiate and find a solution to protect your home.
      • Also, if your home mortgage agreement is void of any power-of-sale clause, the lender then has to consider the judicial foreclosure option only as the nonjudicial foreclosure can be illegal.

      Judicial foreclosure is pretty uncommon in states like California due to the high cost of litigation, time and fees. However, judicial foreclosure can prove beneficial in 2 ways for the resident debtor. Those ways can be listed as follows-

      1. The debtor or home resident has the option to repurchase the home during the auction.
      2. The California state regulations allow also make way for a repurchase of the sold home from the successful bidder up to a time frame of one year.

      There are several other rules and laws that when considered can prove beneficial for a debtor or a lender in different ways. A qualified attorney can certainly be of great help!

      Bankruptcy and home mortgage

      Under most circumstances, a home can be preserved when filing a bankruptcy. It can be even more so in the case of Chapter 13 bankruptcy. By use of tactical exemptions, one can also prevent home mortgage under Chapter 7 bankruptcy California too. You just need the right advice to safeguard your residence from foreclosure. It isn’t far away either. Dial 888-297-6203.


        *Are you more than 60 days past due on your mortgage?

        *Do you own a home?

        Are you currently working?

        By clicking “Submit”, whether I do or do not purchase any products or services on this website, I hereby give my express written consent to receive calls and SMS/text messages, including calls and SMS/text messages made and sent using automated dialing equipment and/or pre-recorded or artificial voice technology and email, about offers and deals that I wish to be kept informed about from (“Partners”), at the phone number and/or email address provided on this form, including any wireless numbers provided, even if I have previously registered the provided number on any Do Not Call Registry. If I do not make a purchase on this website, it is expressly understood that the Partners retain permission to contact me as specified earlier in this paragraph. Carrier SMS/MMS and data messaging rates apply. I also agree that by clicking “Submit” that I agree to the Privacy Policy and Terms and Conditions.

      • Foreclosure and Bankruptcy

        Foreclosure and Bankruptcy

        Foreclosure is a very stressful condition and it requires immediate assistance. Foreclosure is not always right and there can be scenarios when it can be easily prevented. A talk or a piece of advice from an experienced attorney can do wonders on most days. Log on to Recovery Law Group to reach out the best attorneys in town to help you or your friend out in case of a foreclosure. The consultation offered is not only confidential but is very professional too. Foreclosure basically means an exercise of a right by the lender to acquire, liquidate or sell off the asset has a lien on. This can happen in case of secured debts if the debtor misses multiple payments. This might also happen in case of unsecured debts under certain circumstances wherein a judicial lien or foreclosure is applied.

        What are the causes of a foreclosure?

        Foreclosure can occur due to personal or financial situations. Some of the potential reasons for foreclosure could be due to the following-

        • Divorce

        This is a very common reason for mortgage foreclosure. Due to divorce, the mortgage is no longer borne by two people but is levied on a single person, which always is a very big expense to handle with the existing paycheck. Alimony, child support, etc., can cripple the disposable income available for paying important debts like a home mortgage. So, divorce can be a very big potential reason for foreclosure.

        • Death

        As is divorce, death plays a significant role especially if it is associated with the higher earning spouse. While most of the household expenses creep up on the shoulders of a single person, it can be very difficult for one to keep up with all secured or unsecured loans pursued earlier. Apart from being a financial crisis, it can lead to an emotional breakdown which is a very difficult situation to be in.

        • Illness

        Some health disorder or too huge medical bills with large out of pocket expenses can really shake you off your financial track. Being ill will not only reduce the flow of income, cut down your pay slip, but also increase the burden on your savings and the available disposable income. Prolonged illness could also hence lead to foreclosures, bankruptcy, and similar unhealthy financial situations.

        Solutions for foreclosure

        Foreclosure is not the end of the world. It can be safeguarded and if you are worried about your residence or any other particular asset, you need not be. There are solutions to this foreclosure problem. Some of them can be listed as follows-

        • Filing for bankruptcy

        Filing for bankruptcy is a great option if you are about to face foreclosure. Not only do you get automatic stay but if you are eligible for filing bankruptcy under Chapter 13, none of your assets will be disturbed and your future disposable income will be used to settle the debts. This is one of the easy and effective formulae to prevent foreclosing.

        • Opting for judicial foreclosure

        The nonjudicial foreclosure requires a notice of at least 30 days prior initiating the foreclosure. It is important for you to make the lender understand your situation and provide a solution or a plan to pay off the debt in a suitable time frame. If the lender is not convinced, you may have to fight it out in the court and request for judicial foreclosure. There are several benefits offered for judicial foreclosure in states like California however, it proves to be really expensive for the lenders.

        Depending on the agreement terms, there can be more ways of dealing with the situation efficiently. An expert mortgage lawyer is just a phone call away from you. Don’t let foreclosure haunt you. Dial 888-297-6203 right now!


          *Are you more than 60 days past due on your mortgage?

          *Do you own a home?

          Are you currently working?

          By clicking “Submit”, whether I do or do not purchase any products or services on this website, I hereby give my express written consent to receive calls and SMS/text messages, including calls and SMS/text messages made and sent using automated dialing equipment and/or pre-recorded or artificial voice technology and email, about offers and deals that I wish to be kept informed about from (“Partners”), at the phone number and/or email address provided on this form, including any wireless numbers provided, even if I have previously registered the provided number on any Do Not Call Registry. If I do not make a purchase on this website, it is expressly understood that the Partners retain permission to contact me as specified earlier in this paragraph. Carrier SMS/MMS and data messaging rates apply. I also agree that by clicking “Submit” that I agree to the Privacy Policy and Terms and Conditions.

        • Foreclosure, Bankruptcy and Creditor Harassment

          Foreclosure, Bankruptcy and Creditor Harassment

          Who wouldn’t want a guide on how to handle bankruptcies and make wise decisions with their financial struggles? The book, Consumer Defense: A Tactical Guide to Foreclosure, Bankruptcy, and Creditor Harassment: The Luxury of the Informed, is a guide that is greatly welcomed by individuals and business owners. The authors, Ahmad T. Sulaiman, and Matthew H. Hector have laid down the concepts of consumer law in such a simplified format that it is easily understood by anyone. Lawyers and non-lawyers find this guide to be quite beneficial and it isn’t an understatement to say that this guide has been getting good reviews too!

          Consumers who encounter financial setbacks and see themselves in crisis situations generally panic and act in fear! This guide is primarily intended for them to help them make some important and informed decisions – on the basis of important consumer law oriented concepts. With the knowledge of consumer law, the consumers or individuals can be prepared to face their crisis moments without anxiety or fear! They will also know to protect their consumer rights appropriately.

          It is important to mention that one of the authors Ahmad T. Sulaiman has also written Managing Foreclosure Cases in a Recession (Thomson) and Illinois Foreclosure Defense Strategies (Aspatore Books). He practices law and specializes in real estate law, student loan law, bankruptcy law, mortgage foreclosure law, and the civil litigation law (special focus on FCRA, FDCPA, TCPA, and RESPA). His clientele includes individual investors, individual homeowners, business owners, and commercial property owners.

          Grab a copy of this of Consumer Guide on Amazon.com and the consumers are best assured of some expert guidance through it. In situations that go beyond your capability and if you seek some guidance on creditor harassment or foreclosures, Recovery Law Group will come to your aid with their adept team. Based in Los Angeles and Dallas, the team of bank attorneys will standby to handle your financial crisis situation and help you with great advice. So speak with them – 888-297-6203 for a quick consultation and talk about your bankruptcy queries.


            *Are you more than 60 days past due on your mortgage?

            *Do you own a home?

            Are you currently working?

            By clicking “Submit”, whether I do or do not purchase any products or services on this website, I hereby give my express written consent to receive calls and SMS/text messages, including calls and SMS/text messages made and sent using automated dialing equipment and/or pre-recorded or artificial voice technology and email, about offers and deals that I wish to be kept informed about from (“Partners”), at the phone number and/or email address provided on this form, including any wireless numbers provided, even if I have previously registered the provided number on any Do Not Call Registry. If I do not make a purchase on this website, it is expressly understood that the Partners retain permission to contact me as specified earlier in this paragraph. Carrier SMS/MMS and data messaging rates apply. I also agree that by clicking “Submit” that I agree to the Privacy Policy and Terms and Conditions.

          • Avoid Foreclosures with the Help of Bankruptcy Attorneys

            Avoid Foreclosures with the Help of Bankruptcy Attorneys

            Your home is your prized possession. Huge efforts go into making your house and the mere thought of losing it due to non-payment of dues can be simply devastating. Tough financial times may often result in irregular mortgage payments. However, missing on payments can result in severe consequences. In case you have missed more than a couple of payments and are on the verge of losing your home due to foreclosure, filing for bankruptcy is the best way to get out of this sticky situation. According to Dallas based law firm https://www.bankruptcyreliefcenter.com, there are a number of options to avoid foreclosure, such as:

            Chapter 7 Bankruptcy

            Mortgage debts cannot be discharged through Chapter 7 but you can wipe out unsecured debts like personal loans, credit card debts or medical bills through it. Without these payments to take care of, you can concentrate on catching up on mortgage payments. The state law offers 2 sets of property exemptions, thanks to which you can hold on certain assets after bankruptcy. With the Homestead exemption, you can exempt the equity of your house to a certain amount. Bankruptcy attorneys can help assess your financial situation to find out if Chapter 7 is ideal for helping avoid foreclosure.

            Chapter 11 Bankruptcy

            This chapter helps keep struggling businesses afloat while avoiding foreclosure too. Initially, it was intended to help large corporations to file for bankruptcy, it can also be used as an alternative by individuals who cannot qualify for Chapter 13 due to income limitation or debt. Filing for bankruptcy results in the automatic stay which protects all your assets thereby stopping any repossession, foreclosure proceedings, lawsuits, liens or any other collection activities. Bankruptcy attorneys can also help eliminate 2nd or 3rd mortgage through lien stripping.

            Chapter 13 Bankruptcy

            In case you are too far behind on payments, the best option is Chapter 13 where a reasonable monthly repayment plan can help reorganize your debts. You get 3-5 years’ time to catch up on mortgage payments. With the reorganization of debt, you can catch up on overdue payments over the time frame of Chapter 13 repayment plan. With automatic stay in place, any collection effort of creditors including foreclosure is halted. In case your house is not worth your 1st mortgage and there is no equity in your 2nd mortgage, Chapter 13 can strip the latter mortgages from the loan amount.

            It is important that you are aware of your rights especially those regarding your house during bankruptcy proceedings. Consulting with a bankruptcy attorney can put things into perspective as well as making you aware of the options available to you.


              *Are you more than 60 days past due on your mortgage?

              *Do you own a home?

              Are you currently working?

              By clicking “Submit”, whether I do or do not purchase any products or services on this website, I hereby give my express written consent to receive calls and SMS/text messages, including calls and SMS/text messages made and sent using automated dialing equipment and/or pre-recorded or artificial voice technology and email, about offers and deals that I wish to be kept informed about from (“Partners”), at the phone number and/or email address provided on this form, including any wireless numbers provided, even if I have previously registered the provided number on any Do Not Call Registry. If I do not make a purchase on this website, it is expressly understood that the Partners retain permission to contact me as specified earlier in this paragraph. Carrier SMS/MMS and data messaging rates apply. I also agree that by clicking “Submit” that I agree to the Privacy Policy and Terms and Conditions.

            • How to Stop Foreclosure on Your Property?

              How to Stop Foreclosure on Your Property?

              Since a majority of the population purchases the property by taking a loan, non-payment of dues may result in you losing control over any such property. Some financial decisions may cause people to fall into a bad economic situation, which may cause you to fall behind on loan payments. Unless you make a decision soon, you might forfeit your property too. For timely intervention and proper guidance, search for bankruptcy lawyers near me and make a consult sooner than later. (more…)