San Diego California Home Loan Modification Laws

If you are facing the prospect of losing your home and are searching for a viable alternative to foreclosure or bankruptcy call our Office.  The real estate attorneys at Kerry Steigerwalt’s Pacific Law Center have been helping San Diegans successfully resolve their legal and financial issues for many years

Below is a brief overview of bankruptcy and California real estate laws that may apply to your current situation. If you need specific answers and immediate help, contact the Firm today to schedule an initial consultation.

California Bankruptcy Laws

Bankruptcy law is federal in nature, but there are some individual state norms that must be adhered to.  While most people would like to avoid the perceived stigma of filing for bankruptcy protection at almost any cost, the truth is that millions of people file bankruptcy each year. Our experienced attorneys will help you decide if it’s the best alternative for your situation.

Generally, consumers 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.  The most relevant aspects of these Chapters involve the use of exemptions and stays.  An exemption is the amount of property that cannot be sold off to satisfy creditors, and the automatic stay is a court-issued order to all creditors to cease with collection efforts while the petition is pending.

Again, our goal is to help you save your home and bankruptcy, (although not the most preferable option), may be a possible way to accomplish that.  However, our attorneys would need to hear more about your situation before we can assist you in making that decision.

California Real Estate Laws

The real estate laws of California encompass a large and complex body of rules and regulations.  An especially important law that applies if you are currently in default on your mortgage and facing the possibility of foreclosure is California Civil Code Section 2945, which states, in relevant part, that it is forbidden for ‘mortgage consultants’ to collect any fees up-front for their loan modification services if a Notice of Default has been filed against your property. 

You may be contacted by one of these outfits, and if so, you should contact the licensed attorneys at our Firm before making any decision. Unfortunately, there are an ever-increasing number of scams out there.  Working with our real estate attorneys on the other hand, will provide you the benefit of full legal representation and the peace of mind that comes with having knowledgeable professionals working tirelessly to protect your interests.  Our skilled attorneys have the knowledge and experience needed to negotiate your loan modification.

Your Next Step

If you are finding yourself falling further and further behind or your mortgage is about to adjust and you are unsure what to do, your first step should be to contact the real estate attorneys at Kerry Steigerwalt’s Pacific Law Center.  Our attorneys will help you navigate these tough financial times, so contact our Firm today.

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