The Importance Of Expert Legal Counsel

Everything we have discussed so far in this book provides only the most cursory view of foreclosure defense. The truth is, each of the procedures associated with foreclosure and bankruptcy are incredibly involved.

For example, when stripping a lien, you first need to be in Chapter 11 or Chapter 13 bankruptcy. Then, you must file a motion or an adversary proceeding to determine the property’s value and demonstrate that the lien is under-secured. If the court agrees to your valuation, or if the lender consents to the valuation, after the final payment is made under the plan or after a discharge is entered, you would then file another motion seeking a final order stripping off that lien.  The final order is normally recorded to put all on notice that the lien has been avoided.

This is just one of the many different approaches that you might take in foreclosure defense – and it comes long after your attorney uses their years of experience to evaluate your case and develop a strategy that is tailor-made to address your specific needs and concerns. As such, it is wise to carefully consider your choice of legal counsel in foreclosure defense.

Choosing An Experienced Local Lawyer Means That You Get The Best Benefits

Fortunately for us and our clients, the lenders in many of our cases are represented by the same often Los Angeles-based law firms time and time again. As a result, we have a good rapport with them and can often negotiate favorable terms within a bankruptcy.

We recently handled a case in California that concerned a property in Hawaii on which there had not been a mortgage payment made for nearly 12 years. The lender had foreclosed on the property, but that foreclosure was set aside in Hawaii State Court for a flawed foreclosure process – and the arrears remained unpaid. When the lender proceeded with the foreclosure properly, we took action and filed a Chapter 11 bankruptcy. Because this was a rental property, we were able to capitalize the arrears  and restructured the loan at a favorable interest rate (much better than today’s typical rates) to be paid back over 30 years. As a result, the owner retained the property, could rent it out, and now enjoys a positive cash flow from it.

In another case, a homeowner was about $308,000 behind on their mortgage. Like so many in the Bay Area, their property appreciated significantly. Even though the homeowner did not have the income to restructure the loan, we got them a new private loan, refinanced the property with court permission, secured the arrears, and allowed the homeowner to sell the property or find additional income to retain it.

Stories like these underscore the fact that, even under seemingly insurmountable odds, you can find a favorable outcome by working with someone who has years of experience – and knows how to make the facts of your case work to your advantage.

Discover The Difference That Our Firm Can Make

Being behind on your mortgage because you lost your job or had unforeseen expensive medical issues does not mean you will lose your house. You have alternatives, but you need to seek counsel in order to take full advantage of them.

The good news is that our firm has been practicing for over three decades and unlike some firms that only handle specific chapters of the bankruptcy code, we do them all. We also file adversary proceedings, which are lawsuits within the bankruptcy process, and bankruptcy appeals.

What’s more, we know the judges and trustees in the area, so we know  what they are looking for. We know the unwritten rules that you can only know from years of experience. If you recognize you have a need for skilled legal counsel in foreclosure defense and choose to partner with us, you can be confident that we will use our experience and knowledge to guide you to the best result in a way others simply cannot.

For more information on the Need For Expert Legal Counsel In Foreclosure Defense, an initial consultation is your next best step. Get the information and legal answers you are seeking by calling (408) 295-5595 today.