San Francisco Bankruptcy Attorney Blog

A San Francisco bankruptcy attorney discusses how loan modifications can affect you.

How would you qualify for a loan modification? It is difficult to receive approval for a loan modification. Generally the lender will put in place a three month trial period allowing the borrower a chance to make the new payments on time. At the end of the three months the borrower will generally hear whether the new terms become permanent or whether the modification is denied.

If you are not eligible for a loan modification or the bank does not approve the new terms of the agreement you can either try and pay the outstanding balance, amount in default, or whatever other payment is required by the lender. Otherwise, the lender will likely begin the foreclosure process.

If you have questions regarding bankruptcy in San Francisco or bankruptcy in the greater Bay Area please contact our San Francisco Bankruptcy Attorneys at (415) 946-8882 or (1800) 941-6730 for a free consultation or visit www.sagarialaw.com and request a free face to face appointment in a Sagaria Law office location nearest you. Our team of Bankruptcy Lawyers, Bankruptcy Client Care Specialists and Bankuptcy staff supporting San Francisco and Bay Area consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco Bay Area!

A San Francisco bankruptcy attorney defines loan modifications.

It is possible to change the terms of your loan. Many borrowers are now facing difficulty in keeping up with their mortgage payments. In response, many lenders are entertaining the possibility of modifying the terms of the existing mortgage agreement to allow borrowers to pay less each month in order to remain current with the payments.

A loan modification can help take care of your missed payments. Many loan modifications will allow the missed payments to be added onto the end of the agreement, allowing the borrower to stay current and not be considered in default with the mortgage payments. While the terms of each loan modification are different, it is often the case that missed payments are built back into the new arrangement.

We can answer all your questions regarding filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment,asset protection, discharging a debt, etc. If you need help regarding a bankruptcy in San Francisco, call us at (415) 946-8882 or (1800) 941-6730 and we will be more than happy to offer you a free consultation over the phone. You can also fill out a free online evaluation at our website, www.sagarialaw.com, or request a free face to face appointment at a Sagaria Law office location close to you. We have bankruptcy attorneys located throughout California and Oregon to assist you with all your debt resolution needs.

A San Francisco bankruptcy attorney advises on seeking legal help when confronted with foreclosure.

Do I need an attorney when I’m dealing with a potential foreclosure?
The area of law surrounding foreclosures and bankruptcy is complicated and mistakes are commonly made by individuals who are represented without an attorney. If your home is about to be foreclosed or you have received a notice of default, contact an attorney to discuss your options.

If you have questions regarding bankruptcy in San Francisco or bankruptcy in the greater Bay Area please contact our San Francisco Bankruptcy Attorneys at (415) 946-8882 or (1800) 941-6730 for a free consultation or visit www.sagarialaw.com and request a free face to face appointment in a Sagaria Law office location nearest you. Our team of Bankruptcy Lawyers, Bankruptcy Client Care Specialists and Bankuptcy staff supporting San Francisco and Bay Area consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco Bay Area!

A San Francisco bankruptcy attorney helps you understand your options regarding foreclosures.

Filing for bankruptcy will automatically stop any foreclosure proceeding or put on hold a pending sale date. This is because when the bankruptcy petition is filed, an automatic stay goes into effect. By stopping the foreclosure sale, this can allow the borrower adequate time to reorganize their finances and come up with a repayment plan. Generally this still requires that the borrower begin making their current monthly payments, but it will allow them to also catch up on past due payments and prevent the home from otherwise being sold.

At Sagaria Law, we offer an exceptional team of bankruptcy lawyers, bankruptcy client care specialists and bankruptcy staff supporting San Francisco. If you need help regarding bankruptcy in San Francisco, contact us at (415) 946-8882 or (1800) 941-6730 for a free consultation or visit us online at www.sagarialaw.com to request a free in person appointment at a Sagaria Law office location nearest you. We can answer your questions regarding filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. We have bankruptcy attorneys located throughout California and Oregon to assist you with all your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation to quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco!

A San Francisco bankruptcy attorney writes about foreclosure and your options.

What is a foreclosure notice?
A foreclosure notice is notice given by the lender indicating the borrower is in default of the mortgage and the lender plans on selling the home at a foreclosure sale. State laws govern the foreclosure process and most require that the borrower receive adequate notice of the sale. This notice is generally posted on the door of the borrower’s home.

Is it possible to stop a foreclosure?
Yes. There are several different ways to stop a foreclosure. One is to repay the outstanding balance or the amount that is currently in default. The lender will also add on some other fees and costs that were associated with preparing the foreclosure notices and filing the appropriate documents to start the foreclosure process. Another way to stop a foreclosure sale is to file for bankruptcy.

If you have questions regarding bankruptcy in San Francisco or bankruptcy in the greater Bay Area please contact our San Francisco Bankruptcy Attorneys at (415) 946-8882 or (1800) 941-6730 for a free consultation or visit www.sagarialaw.com and request a free face to face appointment in a Sagaria Law office location nearest you. Our team of Bankruptcy Lawyers, Bankruptcy Client Care Specialists and Bankuptcy staff supporting San Francisco and Bay Area consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco Bay Area!

A San Francisco bankruptcy attorney explains how short sales can affect foreclosures.

Can a short sale stop a foreclosure?
Yes. If the lender agrees to a short sale and the buyer has the funds available, the lender will generally not proceed with the foreclosure as the short sale will likely generate more revenue.

What if the lender rejects my short sale?
If the lender does not want to accept the short sale and proceed with foreclosure the other option with preventing the sale is filing for bankruptcy. An automatic stay goes into effect when the bankruptcy petition is filed and the stay allows time for the borrower to work out their finances in an effort to develop a feasible repayment plan.

If you would like more information on this topic or other bankruptcy topics, please contact our San Francisco office at (415) 946-8882 or (1800) 941-6730. We at Sagaria Law can connect you with one our our experienced San Francisco bankruptcy attorneys. We have bankruptcy attorneys located throughout California and Oregon to assist you with your bankruptcy questions. If you need assistance regarding a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, a cram down, stopping a foreclosure or wage garnishment, discharging debt, etc. we can help! Please contact us to receive a free consultation or visit our website at www.sagarialaw.com to request an in-person consultation with an experienced bankruptcy attorney. We have an exceptional team of bankruptcy lawyers, bankruptcy client care specialists and bankruptcy staff supporting San Francisco.

A San Francisco bankruptcy attorney discusses how your real estate agent can help with your foreclosure.

Can my real estate agent help me with my foreclosure?
Maybe. Many borrowers will want to avoid having a foreclosure on their credit report and will try to work out an alternative arrangement with the lender regarding the future of the property. One solution is to try and negotiate a short sale to avoid the foreclosure.

Does my real estate agent negotiate the short sale?
Yes. Most borrowers will have their real estate agent work with the lender in order to agree on an offer amount. The lender must agree to the short sale amount as the difference between the loan balance and short sale price is forgiven, meaning the bank will not seek repayment of the deficiency. There are, however, tax consequences generally associated with forgiven debt.

Please do not hestitate to contact us at our San Francisco office by calling (415) 946-8882 or (1800) 941-6730 for your debt resolution needs. You can receive a free consultation over the phone, or request a free in person appointment at a Sagaria Law office nearest you. Please visit our website at www.sagarialaw.com and fill out a free online evaluation form to determine if you are a qualified candidate for bankruptcy. Sagaria Law's team of bankruptcy lawyers, bankruptcy client care specialists and bankruptcy staff at San Francisco can assist you with all aspects of your bankruptcy case. We at Sagaria Law can assist you regarding filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. and we are happy to help! Our bankruptcy attorneys located throughout California and Oregon can assist you with your bankruptcy questions.

A San Francisco bankruptcy attorney continues to answer your foreclosure concerns.

If my home is sold at foreclosure do I have to immediately leave?
No. State law provides for a certain amount of time before the borrower must vacate the foreclosed property. If a borrower remains in the property after the date given to vacate, the new owner will generally take legal action to try and remove the occupant.

How can bankruptcy help with foreclosure?
Filing for bankruptcy not only stops a foreclosure date, but also allows for the borrower to try and develop a feasible repayment plan. The repayment plan is available under chapter 13 of the bankruptcy code. Under chapter 13, the borrower will make monthly payments to the bankruptcy trustee, who is in charge of disbursing the payments to the lender. The borrower is required to resume making their monthly mortgage payment to the lender.

We can answer all your questions regarding filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment,asset protection, discharging a debt, etc. If you need help regarding a bankruptcy in San Francisco, call us at (415) 946-8882 or (1800) 941-6730 and we will be more than happy to offer you a free consultation over the phone. You can also fill out a free online evaluation at our website, www.sagarialaw.com, or request a free face to face appointment at a Sagaria Law office location close to you. We have bankruptcy attorneys located throughout California and Oregon to assist you with all your debt resolution needs.

A San Francisco bankruptcy attorney answers two commonly asked questions on foreclosure.

Can I stop a foreclosure?
Yes, it is possible to stop or postpone a foreclosure sale date. Generally the borrower is required to pay the delinquent balance or other amount stated by the lender. The other option is to file for bankruptcy in order to develop a repayment plan.

Will I get notice of a foreclosure sale?
The lender must provide the borrower with notice of the foreclosure sale. Generally the lender will first send out a notice of default indicating the mortgage is not current. After the notice of default the lender will provide a trustee sale date, indicating what property is being sold, the location of the sale, and the time of the sale.

At Sagaria Law, we offer an exceptional team of bankruptcy lawyers, bankruptcy client care specialists and bankruptcy staff supporting San Francisco. If you need help regarding bankruptcy in San Francisco, contact us at (415) 946-8882 or (1800) 941-6730 for a free consultation or visit us online at www.sagarialaw.com to request a free in person appointment at a Sagaria Law office location nearest you. We can answer your questions regarding filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. We have bankruptcy attorneys located throughout California and Oregon to assist you with all your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation to quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco!

A San Francisco bankruptcy attorney
What if I do not want to file bankruptcy?

If you do not want to file bankruptcy to stop foreclosure you must pay the balance due to the lender. Generally this is simply the amount you are behind, plus some late fees, although some lenders will require the entire mortgage balance due. The other option is to try and apply for a loan modification, but the loan modification process is slow, time consuming, and has a very low success rate. And the lender can still foreclose on the property while the borrower is in the modification process.

If you have questions regarding bankruptcy in San Francisco or bankruptcy in the greater Bay Area please contact our San Francisco Bankruptcy Attorneys at (415) 946-8882 or (1800) 941-6730 for a free consultation or visit www.sagarialaw.com and request a free face to face appointment in a Sagaria Law office location nearest you. Our team of Bankruptcy Lawyers, Bankruptcy Client Care Specialists and Bankuptcy staff supporting San Francisco and Bay Area consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco Bay Area!

A San Francisco bankruptcy attorney continues the foreclosure discussion with:

How Else Can Bankruptcy Help me Stop Foreclosure?

In addition to the automatic stay, bankruptcy will help a homeowner keep their home by allowing them three to five years in order to catch up on missed mortgage payments. The only requirement is that the homeowner start paying the mortgage each month as it comes due, plus an additional amount to cover the arrearage balance. While this might pose more of a financial strain on the homeowner, if they are financially able to make those payments their home can be saved from foreclosure.

If you have questions regarding bankruptcy in San Francisco or bankruptcy in the greater Bay Area please contact our San Francisco Bankruptcy Attorneys at (415) 946-8882 or (1800) 941-6730 for a free consultation or visit www.sagarialaw.com and request a free face to face appointment in a Sagaria Law office location nearest you. Our team of Bankruptcy Lawyers, Bankruptcy Client Care Specialists and Bankuptcy staff supporting San Francisco and Bay Area consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco Bay Area!

A San Francisco bankruptcy attorney

How does bankruptcy stop foreclosure?

When a bankruptcy petition is filed an automatic stay goes into effect. The stay prohibits any adverse action from being taken again the individual filing. This means that any foreclosure proceeding must stop once the petition is filed. If the lender wishes to take any action against the property it must first file for permission with the court. If the filer wishes to retain the property and wants to use the bankruptcy process to help with that goal, it will be difficult for the lender to have the stay lifted against the property.

If you have questions regarding bankruptcy in San Francisco or bankruptcy in the greater Bay Area please contact our San Francisco Bankruptcy Attorneys at (415) 946-8882 or (1800) 941-6730 for a free consultation or visit www.sagarialaw.com and request a free face to face appointment in a Sagaria Law office location nearest you. Our team of Bankruptcy Lawyers, Bankruptcy Client Care Specialists and Bankuptcy staff supporting San Francisco and Bay Area consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco Bay Area!

A San Francisco bankruptcy attorney answers:

How does bankruptcy stop foreclosure?

When a bankruptcy petition is filed an automatic stay goes into effect. The stay prohibits any adverse action from being taken again the individual filing. This means that any foreclosure proceeding must stop once the petition is filed. If the lender wishes to take any action against the property it must first file for permission with the court. If the filer wishes to retain the property and wants to use the bankruptcy process to help with that goal, it will be difficult for the lender to have the stay lifted against the property.

If you have questions regarding bankruptcy in San Francisco or bankruptcy in the greater Bay Area please contact our San Francisco Bankruptcy Attorneys at (415) 946-8882 or (1800) 941-6730 for a free consultation or visit www.sagarialaw.com and request a free face to face appointment in a Sagaria Law office location nearest you. Our team of Bankruptcy Lawyers, Bankruptcy Client Care Specialists and Bankuptcy staff supporting San Francisco and Bay Area consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco Bay Area!

A San Francisco bankruptcy attorney answers:
How Do I Stop Foreclosure?

Is it possible to stop foreclosure?

Yes. There are several different ways you can stop the lender from foreclosing on your home if you are in default with your mortgage payments. You can either pay the immediate amount due in order to cure any default, pay the entire mortgage balance, request a loan modification, or file for bankruptcy.

If you have questions regarding bankruptcy in San Francisco or bankruptcy in the greater Bay Area please contact our San Francisco Bankruptcy Attorneys at (415) 946-8882 or (1800) 941-6730 for a free consultation or visit www.sagarialaw.com and request a free face to face appointment in a Sagaria Law office location nearest you. Our team of Bankruptcy Lawyers, Bankruptcy Client Care Specialists and Bankuptcy staff supporting San Francisco and Bay Area consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco Bay Area!

A San Francisco bankruptcy attorney takes another look at saving your home from foreclosure...

Can I work out a repayment plan to get my house out of foreclosure?
Not usually. Most lenders will require that any past due amounts be payable at once, in addition to the current monthly payment. If repaying the balance up front is not an option, it is possible to work out a new arrangement with respect to the terms of the loan, often putting the amount behind on the end of the mortgage and starting over. This modification process, however, is very time consuming and the success rate is not very high.

Are there other options for saving my home from foreclosure?
Filing bankruptcy will automatically stop any foreclosure proceeding or sale. The bankruptcy also allows for the development of a repayment plan for any past due mortgage amounts. The bankruptcy will be successful in saving the home if you are able to make your regular mortgage payments when they come due in addition to paying a little extra each month in order to cover the amount in arrears.

If you have questions regarding bankruptcy in San Francisco or bankruptcy in the greater Bay Area please contact our San Francisco Bankruptcy Attorneys at (415) 946-8882 or (1800) 941-6730 for a free consultation or visit www.sagarialaw.com and request a free face to face appointment in a Sagaria Law office location nearest you. Our team of Bankruptcy Lawyers, Bankruptcy Client Care Specialists and Bankuptcy staff supporting San Francisco and Bay Area consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco Bay Area!

A San Francisco bankruptcy attorney looks at: How Much Does it Cost to Get My House Out of Foreclosure?

What is foreclosure? Foreclosure is the process by which the lender retakes possession of the property on which the mortgage was based. The lender’s interest is secured in the home and if there is a default in repaying on the note, the lender has the option of foreclosing on the property in order to satisfy the outstanding balance. Often the lender will allow the borrower to retain the property if the past due amount is paid prior to the foreclosure.

Can I stop my home from being sold?

Yes, it is possible to get your house out of foreclosure. It generally depends on what the lender requires by way of payment. Some contracts require that the entire loan balance be paid upon default. Other lenders simply require that the borrower pay the amount in arrears plus certain late fees and penalties.

If you have questions regarding bankruptcy in San Francisco or bankruptcy in the greater Bay Area please contact our San Francisco Bankruptcy Attorneys at (415) 946-8882 or (1800) 941-6730 for a free consultation or visit www.sagarialaw.com and request a free face to face appointment in a Sagaria Law office location nearest you. Our team of Bankruptcy Lawyers, Bankruptcy Client Care Specialists and Bankuptcy staff supporting San Francisco and Bay Area consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco Bay Area!

A San Francisco bankruptcy attorney
What is the Lender’s Role in Foreclosure?

What is foreclosure?

Foreclosure is the process by which the lender retakes possession of the property on which the mortgage was based. The lender’s interest is secured in the home and if there is a default in repaying on the note, the lender has the option of foreclosing on the property in order to satisfy the outstanding balance.

Why would a lender foreclose?

A lender will generally want to foreclose on a property to protect its interest. There is a concern that the property will not be kept in good condition or that the borrower will abandon the property and cause substantial disrepair. A foreclosure is also a way for the lender to regain some of the credit it extended to the borrower.

Will my lender tell me about a foreclosure?

Yes. The lender must inform you of an intent to sell the property. Generally the lender will also give you statements indicating how much is due in order to stop any foreclosure proceeding. Lenders must inform borrowers of any developments regarding the foreclosure and whether there is a sale date.

What if I rent my home and I’ve defaulted on the mortgage?

The lender must still give notice to the tenants. If the home is occupied there is generally a 60 day period to allow for the renters to vacate the property. Once the time runs on having the renters vacate, the lender will generally need to bring an unlawful detainer proceeding against the tenants in order to have them removed from the property. If you are renting it is important to let the lender know the home is occupied so there is plenty of notice given to the renters.

If you have questions regarding bankruptcy in San Francisco or bankruptcy in the greater Bay Area please contact our San Francisco Bankruptcy Attorneys at (415) 946-8882 or (1800) 941-6730 for a free consultation or visit www.sagarialaw.com and request a free face to face appointment in a Sagaria Law office location nearest you. Our team of Bankruptcy Lawyers, Bankruptcy Client Care Specialists and Bankuptcy staff supporting San Francisco and Bay Area consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco Bay Area!

A San Francisco bankruptcy attorney addresses:

How can bankruptcy assist me in keeping my home?

Bankruptcy will not only stop a foreclosure sale but can also allow an individual to make up missed mortgage payments. Chapter 13 of the bankruptcy code gives the filer three to five years to catch up on past due mortgage payments. This means that if the filer is able to pay the mortgage as it normally comes due, plus a little extra to make up for the missed payments, the home will not be sold. In addition, at the end of the three to five years, the filer will be current on their mortgage and exit bankruptcy with no threat of foreclosure.

If you have questions regarding bankruptcy in San Francisco or bankruptcy in the greater Bay Area please contact our San Francisco Bankruptcy Attorneys at (415) 946-8882 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Francisco Bankruptcy Attorneys. After you have spoken with one of our Bay Area bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Bankruptcy Lawyers, Bankruptcy Customer Care Specialists and Bankuptcy staff supporting San Francisco and Bay Area consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco Bay Area!

A San Francisco bankruptcy attorney addresses the question: Can filing bankruptcy assist with foreclosure?

Yes. Filing a bankruptcy petition will automatically stop any foreclosure proceeding, whether it is the lender notifying you that the loan is in the pre-foreclosure stage or whether there is a trustee sale date for selling the home. An automatic stay goes into effect once a bankruptcy petition is filed, meaning no adverse action can be taken against you by your creditors.

If you have questions regarding bankruptcy in San Francisco or bankruptcy in the greater Bay Area please contact our San Francisco Bankruptcy Attorneys at (415) 946-8882 or (1800) 941-6730 for a free consultation or visit www.sagarialaw.com and request a free face to face appointment in a Sagaria Law office location nearest you. Our team of Bankruptcy Lawyers, Bankruptcy Client Care Specialists and Bankuptcy staff supporting San Francisco and Bay Area consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco Bay Area!

A San Francisco bankruptcy attorney talks about bankruptcy and a second mortgage...

Can bankruptcy assist with my second mortgage?

Yes. In a chapter 13 bankruptcy, if the current market value of your home is less than the primary mortgage amount, you can remove the second mortgage and treat it as unsecured debt. This means that you will only be responsible for making your primary mortgage payments each month. Depending on your income, there might be some repayment to unsecured creditors, but upon completion of your chapter 13 plan, the second mortgage will no longer be attached to your home.

If you have questions regarding bankruptcy in San Francisco or bankruptcy in the greater Bay Area please contact our San Francisco Bankruptcy Attorneys at (415) 946-8882 or (1800) 941-6730 for a free consultation or visit www.sagarialaw.com and request a free face to face appointment in a Sagaria Law office location nearest you. Our team of Bankruptcy Lawyers, Bankruptcy Client Care Specialists and Bankuptcy staff supporting San Francisco and Bay Area consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco Bay Area!

A San Francisco bankruptcy attorneyhelps with:
What is foreclosure?

A foreclosure notice is a notice that you, or "the borrower," receives in the mail warning you of a pending foreclosure sale on your home. Typcially, the foreclosure notice is sent due to non-payment on a mortgage for a period of anywhere between 1-6 months, but typically the foreclosure notice is initiated once someone is 3-4 months behind and has made no contact with their lender. Foreclosure is the process by which the lender retakes possession of the property on which the mortgage was based. The lender’s interest is secured in the home and if there is a default in repaying on the note, the lender has the option of foreclosing on the property in order to satisfy the outstanding balance. If you have received a foreclosure notice or know someone who has, the worst thing you or they can do is nothing. Calling your lender right away to avoid foreclosure is the right thing to do. If you are unable to do so or your foreclosure is beyond the stages of reaching resolution with your lender, legal counsel shoud be sought.

If you have questions regarding bankruptcy in San Francisco or bankruptcy in the greater Bay Area please contact our San Francisco Bankruptcy Attorneys at (415) 946-8882 or (1800) 941-6730 for a free consultation or visit www.sagarialaw.com and request a free face to face appointment in a Sagaria Law office location nearest you. Our team of Bankruptcy Lawyers, Bankruptcy Client Care Specialists and Bankuptcy staff supporting San Francisco and Bay Area consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco Bay Area!