Expert Foreclosure Defense Attorneys: Helping You Stay In Your Home
Foreclosures are a scary process. Your home may potentially be taken from you. With foreclosures in Southern California being the highest in the country, thousands of homeowners across Los Angeles, Orange, San Bernardino, and Riverside Counties are going through this lengthy and stressful process. You are not alone– Atlantis Law Firm will help you fight a foreclosure and assist you throughout the entire process. We will explain the process to you, present various options for you and your family, such as a loan modification or a short sale, and help you decide which option will be most beneficial.
Foreclosure is the legal process where a lender attempts to recover the balance of a loan from a borrower who has stopped making payments to the lender and the loan is in default. This is usually done through the forced sale of the asset that was used as collateral for the loan. Foreclosures are most frequently associated with the forced sale of a borrower´s home, which was used as security on the borrower´s mortgage. There are two types of foreclosures, but in California, almost 99% of all foreclosures are known as “non-judicial,” which means that the lender does not need to go to court before the home is repossessed by the lender (the mortgage simply allows the lender to foreclose if the loan is in default).
The foreclosure process begins when the lender records a “Notice of Default” (NOD) on your home. Then the Trustee records the NOD with the county recorder where your home is located. When the NOD is recorded, a three-month “reinstatement period” commences, during which the borrower may try to cure the default by paying all late payments and late charges. Within 10 days of recording the NOD, the Trustee must mail the borrower a copy of the NOD. The Trustee must then wait 3 months before scheduling a sale of the home. After the 3 months has passed, the Trustee will schedule a sale by recording and publishing a Notice of Trustee´s Sale (NOTS). The NOTS is mailed to the borrower and also published publicly.
The attorneys at Atlantis Law Firm can possibly prevent your foreclosure through refinancing, forbearance, payment plans, loan modification
, or a short sale
. We will negotiate aggressively with your lender to see which of these options will be viable for you and your family. There may also be legal remedies available that Atlantis Law will help you with. We might be able to bring your case to court and stop the foreclosure if your loan did not comply with mortgage requirements or if the lender did not abide by all of the requirements of a non-judicial foreclosure. Additionally, you might be able to short-sale your home in order to avoid foreclosure or even file for bankruptcy
and protect your home that way. Atlantis Law will identify possible solutions for saving your home and avoiding foreclosure.