San Francisco Bankruptcy Attorney Blog

It would have been wise to make some serious decisions to stop or delay a home prior to foreclosure proceedings, however, all is not lost. Here are five common sense steps to perhaps saving your house in foreclosure.

Step #1. Contact the lender to have the mortgage loan modified. Perhaps reducing the interest rate, extending the term of the loan or making interest only payments for an extended time will benefit you. Most lenders will consider this if you have shown in the past you are a good risk and not a deadbeat.

Step #2. Work a short sale by unloading the home yourself or via a realtor. Whatever funds you receive may satisfy the lender but be careful you're not sued for any deficiency after the fact.

Step #3. Creditor repayment plan. If your current hard-times are coming to an end, work a deal to pay back current arrears by showing job tenure and financial income.

Step #4. Chapter 7 or 13 bankruptcy. In most states a bankruptcy filing will protect a house in foreclosure and stop the proceedings without the lenders permission.

Step #5. Using the remaining home equity, if any, borrow enough money to bring payments current.

If you have a question regarding Foreclosure in California please contact us at 1800.941.6730 and we can connect you with one of our experienced California Bankruptcy Attorneys . Sagaria Law can assist you with all aspects of your bankruptcy case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, lien stripping , a cram down, stopping a foreclosure or wage garnishment, asset protection, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist in all of these important areas. Please complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.

The Best Foreclosure Attorneys Get Rid of Debt
When facing a foreclosure, it is always advisable to consult with a foreclosure attorney. However, it is also advisable that you select an attorney that is willing to not only fight the foreclosure, but fight your other debt also.

People incur debt as a part of life. When you are employed and able to make the payments, this is fine. However, an adjustment in income due to a pay cut or an unforeseen event can cause a financial crisis. Home owners quickly find they cannot afford their mortgages and other debts. There is a solution to this problem.

Filing bankruptcy is a way to manage your debt and save your home from foreclosure. The foreclosure attorney that you hire must be willing to look at your entire financial situation and consider the option of bankruptcy.

When you file Chapter 13 bankruptcy you are allowing the court to restructure all of your debts. Many of these debts will be reduced or absolved during the proceeding. Your mortgage and other debts will be condensed and combined into a simple monthly payment that will allow you to regain financial stability and retain ownership of your home.

When a person files for bankruptcy they will be able to stay in their home during the proceeding, avoiding foreclosure and eviction. This is a simpler way of dealing with the entire financial crisis you are facing.

If you have a question regarding Foreclosure in California please contact us at 1800.941.6730 and we can connect you with one of our experienced California Bankruptcy Attorneys . Sagaria Law can assist you with all aspects of your bankruptcy case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, lien stripping , a cram down, stopping a foreclosure or wage garnishment, asset protection, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist in all of these important areas. Please complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.

When you need an attorney, it's important to choose the right one. Not all attorneys are created equally, and a good foreclosure attorney can save you a lot of trouble. Here are tips for choosing the right one.

1. Experience matters
Look to someone with experience to handle a complicated situation. Foreclosures are complicated, so it pays to go with a practitioner that has gone through the wars before. 

2. Choose a specialized practitioner
Many people think that just because they know a lawyer, that person will make a good foreclosure attorney. You should choose someone who works with these specific cases, as this will give you the best chance in litigation. 

3. Knowledge of the market
You should go with an attorney that is familiar with the challenges presented by your area. Often times this can be the difference between a winning case and a losing case. 

4. A record of success
Attorneys can win and lose in court. You should look into the record of your prospective attorney. If he has gone to court over these issues, has he been a winner?

5. Someone who will listen to your concerns
You should get an attorney that will listen to you. These things are too important to leave to chance. Choose someone who will listen to your situation and work hard for you.

If you have a question regarding Bankruptcy in San Francisco please contact us at 1800.941.6730 and we can connect you with one of our experienced California Bankruptcy Attorneys . Sagaria Law can assist you with all aspects of your bankruptcy case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, lien stripping , a cram down, stopping a foreclosure or wage garnishment, asset protection, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist in all of these important areas. Please complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.

Here are the 5 basic steps in stopping a foreclosure: 

1) Clear the problem. If you are having financial difficulties, try to figure out what you can do to alleviate the issue. Whether it is doing without a certain thing or cutting back, it is often the perfect solution to avoid getting yourself deeper in debt.
2) Finding out a short term solution to help you in the long run. Trying a reverse mortgage gives you the opportunity to pay a part of the loan even if you can't pay the full amount. Doing this will give you extra financial leeway in order to meet the solution head-on.
3) No need for income requirement or credit. If you are over the age of 60, this is a perfect plan for you if you are deciding to do a reverse mortgage. The only requirement is that you own the house or flat in question.
4) Take the reverse mortgage. If you're in danger of being in foreclosure and you are over the age of 60, then this is perfect for you. Even if you are not over the age of 60, there is a chance you can get up to 60% back on what you put into the mortgage by using a reverse mortgage.
5) Keep in touch with your mortgage agency. They are there to help you rectify the problem in any way they can.

If you have a question regarding Bankruptcy in San Francisco please contact us at 1800.941.6730 and we can connect you with one of our experienced California Bankruptcy Attorneys . Sagaria Law can assist you with all aspects of your bankruptcy case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, lien stripping , a cram down, stopping a foreclosure or wage garnishment, asset protection, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist in all of these important areas. Please complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.

Anyone that is facing a bank foreclosure should keep in mind that it is always in the best interest of the bank to allow the home to enter foreclosure. Mortgage servicing companies are very reluctant to grant loan modifications because it reduces their income. Banks are reluctant to approve short sales because they do not want this tool to become a trend and decrease their assets. Home owners are stuck in the middle, trying to keep their homes while falling through the cracks in the system.

However, there is a solution that will prevent a bank foreclosure from taking place on your home: bankruptcy. 

When you file Chapter 13 bankruptcy, the applicant is given protection by the courts from a bank foreclosure and forced eviction. While the court is restructuring and reorganizing all of your debts, you will have the stability of being able to remain in your home.

During the Chapter 13 process, a Clerk of the Court will review your finances, and adjust your debts accordingly. You will be required to enter into a court-approved repayment plan, and make monthly payments to the court for a specific number of years. During this time your home will be protected from foreclosure and you will not have to deal with any of your creditors.

If you have a question regarding Bankruptcy in San Francisco please contact us at 1800.941.6730 and we can connect you with one of our experienced California Bankruptcy Attorneys . Sagaria Law can assist you with all aspects of your bankruptcy case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, lien stripping , a cram down, stopping a foreclosure or wage garnishment, asset protection, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist in all of these important areas. Please complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.

Foreclosure is very common these days. With the U.S. economy struggling, and unemployment around 10%, more and more people find themselves in a situation where they cannot pay their bills. There are other ways to keep from losing your house, but bankruptcy is one of the most effective.

There are two ways to file for bankruptcy as an individual, but only Chapter 13 is truly effective when trying to stop a bank from trying to foreclose on your home. Chapter 13 allows you time, sometimes up to 5 years, to pay off outstanding debts. This can often let you keep your home and eliminate loans and lines of credit against the property. A bankruptcy attorney should be consulted to figure out the best option for you.

Making the decision to file Chapter 13 is not to be taken lightly. It can affect your future; your credit takes a hit, which makes it harder to get a loan. Sometimes it is worth it to avoid foreclosure.

If you have a question regarding Bankruptcy in San Francisco please contact us at 1800.941.6730 and we can connect you with one of our experienced California Bankruptcy Attorneys . Sagaria Law can assist you with all aspects of your bankruptcy case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, lien stripping , a cram down, stopping a foreclosure or wage garnishment, asset protection, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist in all of these important areas. Please complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.

In recent years we have seen the amount of home foreclosure increase. In 2010 the reports were 1 in 7 home loans were foreclosed. 

Home foreclosure begins as soon as the first payment is missed. The mortgage lender will send a letter letting you know that the payment has been missed and you need to send it in as soon as possible. This process will usually continue for about two to three months. If this continues to the 60 day point then the lender will send a notice letting the home owner know that he intends to accelerate, he will clearly outline his intentions on this.

When and if the borrower does not respond in the initial contact faze the lender will then hire an attorney. The attorney then sends a demand letter. The letter is to inform the borrower that if his loan is not brought current the attorney will file an official notice with the court. Following this are the notice of default and then notice of sale.

All of the steps involved take time and it is never to late for the borrower to bring the loan current. If you are going through the process of foreclosure, don't wait you will save more money by bringing the loan up to date.

If you have a question regarding Bankruptcy in San Francisco please contact us at 1800.941.6730 and we can connect you with one of our experienced California Bankruptcy Attorneys . Sagaria Law can assist you with all aspects of your bankruptcy case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, lien stripping , a cram down, stopping a foreclosure or wage garnishment, asset protection, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist in all of these important areas. Please complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.

Can foreclosure be avoided through bankruptcy? The answers are a little tricky:

Question: Do all types of personal bankruptcy help you avoid foreclosure?

Answer: Yes and no. A Chapter 7 allows you to erase your debt, but your home is seized to pay off your debts. You avoid being foreclosed, but you have still gone bankrupt. Chapter 13 allows you to keep your home while utilizing a custom repayment plan for your debts.

Question: Should I hire a lawyer?

Answer: Definitely. This process is difficult and confusing. Trying to handle it yourself would most likely be counter-productive.

Question: Can a lawyer help avoid bankruptcy and allow me to keep a home?

Answer: Possibly. Sometimes banks make errors during the process that a lawyer is trained to find.

Question: Will my home definitely be saved?

Answer: Nothing is definite, but the answer is most likely.

Question: After all other options have run out, is this my final chance?

Answer: If you really want to keep your home, a Chapter 13 filing is your best chance. Be sure to examine all other routes before pursuing this.

If you have a question regarding Bankruptcy in San Francisco please contact us at 1800.941.6730 and we can connect you with one of our experienced California Bankruptcy Attorneys . Sagaria Law can assist you with all aspects of your bankruptcy case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, lien stripping , a cram down, stopping a foreclosure or wage garnishment, asset protection, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist in all of these important areas. Please complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.

A foreclosure attorney can be the one thing that saves you from losing your home, yet few people ever enlist their services. Most do not even think about it, or think that their services are unnecessary or too expensive. Here are some facts about foreclosure lawyers:

- Over 80% of foreclosures can be postponed or stopped by hiring a lawyer.

- Many lenders make mistakes in procedure and paperwork that an attorney can catch to give you time to save your home.

- Foreclosure attorneys make it their job to keep up with the quickly changing federal laws designed to help protect lenders from predatory lenders and mistakes made by them. Only an attorney would know about these changes.

- These lawyers are not as expensive as you think. Plus, saving your home for your family is very important.

Foreclosure is awful. Thinking that you will be homeless in the near future is one of the most stressful events that can happen to you. Enlist a foreclosure attorney to see what he or she can do to help.

If you have a question regarding Bankruptcy in San Francisco please contact us at 1800.941.6730 and we can connect you with one of our experienced California Bankruptcy Attorneys . Sagaria Law can assist you with all aspects of your bankruptcy case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, lien stripping , a cram down, stopping a foreclosure or wage garnishment, asset protection, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist in all of these important areas. Please complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.

A San Francisco bankruptcy attorney explains foreclosures in California.

There are millions of homes in foreclosure across the nation, and millions of mortgages in default. California is listed in the top 10 of foreclosure states and the California foreclosure rate alone accounted for 20% of the national total. The nation foreclosure statistics are changing day-by-day, especially the California foreclosure rate. Despite what the federal government is stating; the loan modification program was not only ineffective, but it is prolonging the foreclosure process.

Understanding the foreclosure process is the first step to not losing your home. A foreclosure proceeding begins only after a homeowner falls behind on mortgage payments. The legal process involves numerous steps, commencing with the notification of the owner. On a positive note, this process does take time and losing your home will not happen overnight.

The foreclosure timeline varies from state to state and this is a very significant period that the homeowner has to save his home--the pre-foreclosure period is the time to prepare and plan. Second, the home owner must have a viable plan that coincides with the state foreclosure rules. California foreclosure rules affirms- that lenders can take only one action against the homeowner, and this action depends on whether a foreclosure is either a judicial or a non-judicial foreclosure.

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 cites information regarding San Francisco foreclosures.

Foreclosures do occur in San Francisco. While San Francisco may not have as high of a foreclosure rate as other cities in California, San Francisco is not immune to the current economic conditions and there are foreclosures currently taking place.

Foreclosure information is public record so it is possible to find out which properties in San Francisco could potentially be sold at a foreclosure sale. Most newspapers have a list of foreclosed properties.

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 blogs on foreclosures.

A foreclosure occurs when the lender acts on a default by the borrower and holds a sale in order to generate money to satisfy the loan balance. Unless the borrower is able to satisfy the delinquent balance the lender will sell the property at a foreclosure sale.

In order to avoid foreclosure it is best to make your current monthly mortgage payments to your lender. If you are unable to make your currently mortgage payment you will likely receive a notice of default, which is the first step in the foreclosure process. It may be possible to request a loan modification to reduce the monthly mortgage payment and allow the lender a chance to become current.

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 explains options to take regarding mortgage payments and loan modifications.

If the borrower got behind in the mortgage because the payments are too high, a chapter 13 is not likely to help because of the requirement that the borrower resume the monthly payments. If, however, the borrower’s financial situation improved or other circumstances allow for the monthly payments to be made, then a chapter 13 will probably be successful.

It is possible to work out a loan modification while in bankruptcy. A loan modification, if approved, will generally lower your monthly mortgage payments. In addition, loan modifications will often include the amount of arrears back into the loan, although the terms of each modification generally vary depending on 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 addresses how filing chapter 13 will affect your foreclosure.

It is possible to stop a foreclosure by filing bankruptcy. An automatic stay goes into effect when a bankruptcy petition is filed, which prevents a foreclosure sale and allows the borrower to develop a repayment plan.

A chapter 13 bankruptcy allows a borrower who is behind on mortgage payments to catch up on missed payments. The borrower, however, is also required to begin making their current mortgage payments. If the borrower is financially in a position to make their current mortgage payments, plus an additional amount to make up for the missed payments, then a chapter 13 plan will allow the borrower to save the home.

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 has observed that it may be preferable to let go of your property.

In that case, if you decide that the home you are living in has no equity and want to release yourself from any liability on the loan, you can file for bankruptcy to discharge the debt. The foreclosure will still be stopped, allowing you some extra time to stay in the home, but the ultimate outcome will be that the bank will retake the home. However, the borrower will not be liable for the loan amounts.

If you have a question 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 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 ankruptcy 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 advises on foreclosures.

It is possible to stop a foreclosure, either by paying the delinquent amount or by filing for bankruptcy. By filing bankruptcy, an automatic stay goes into effect and stops any foreclosure proceeding. This allows the borrow some time to develop a repayment plan and come up with a way to save the home by paying the delinquent amount over the life of the chapter 13 plan. The borrower, however, must start making their regular mortgage payments after the filing of bankruptcy.

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.

http://www.sanfranciscobankruptcyattorneyblog.com/2010/09/a_san_francisco_bankruptcy_att_9.htmlA San Francisco bankruptcy attorney observes commonly asked questions on foreclosure notices.

Borrowers receive foreclosure notices when mortgage payments are not made on time. It is rare to get a foreclosure notice after one or two missed payments, but for those borrowers who are severely delinquent, foreclosure notices are common. Generally the lender will first provide a notice of default to the borrower and provide them with an opportunity to repay the delinquent amount. If the default is not cured the lender will proceed with the foreclosure process.

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

A foreclosure notice is notice from your lender that the loan payment is in default and there is going to be a sale of the property if the delinquent amount is not cured by the sale date. Foreclosure sales are to generate money in order to satisfy any outstanding balance. Generally the foreclosure sale does not generate enough money to completely cover the outstanding balance.

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

Many clients ask, if I cannot make the final balloon payment will I lose my home? That depends. Generally lenders will allow the borrower to refinance the mortgage, meaning that the balloon payment will be broken up into a series of monthly payments. This allows lenders who cannot make the balloon payment to remain in their home while paying off the final balance.

However, you can take a mortgage without a balloon payment. Not all mortgages have a balloon payment due at the end of the term. The details of the mortgage can be worked out prior to anything taking effect and you can avoid a balloon payment by setting up a feasible mortgage.

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 explains balloon payments.

There are some mortgage agreements that call for a large payment at the end of the mortgage term in order to fully pay off the balance. This results from the monthly payments not fully covering all that needs to be repaid. At the end of the term the difference is generally made up in the form of one large payment. The name comes from the size of the payment that is generally required, as it is often much larger than the regular monthly payments.

If you have a question 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 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 ankruptcy 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 comments on bankruptcy and foreclosures.

There is no requirement that a home have a trustee sale date in order for a bankruptcy petition to be filed. Being proactive in the bankruptcy filing generally allows a homeowner the ability to submit a feasible plan because there is no rush to have the petition filed to stop the foreclosure. Having time to know what the bankruptcy will entail is beneficial to all parties involved and will likely lead to a successful discharge from chapter 13 at the end of the 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 describes how filing bankruptcy may stop a foreclosure.

It is possible to avoid foreclosure by filing for bankruptcy. When a bankruptcy petition is filed an automatic stay goes into effect, protecting the debtor’s home from any adverse action that may otherwise be taken by the lender. If the debtor files for chapter 13 bankruptcy, a repayment plan is submitted to the court for approval. The chapter 13 plan generally provides for the mortgage arrears to be repaid over the course of 36-60 months, allowing the borrower to remain in the home while those payments are being made.

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 comments on actions you can take to stop your foreclosure.

Depending on your financial situation and the circumstances leading up to the foreclosure, it is possible to stop your home from being sold by the trustee and the foreclosure sale. There are several different ways to avoid a foreclosure sale.

If you are able to pay the amount you are behind to the lender, you can generally avoid a foreclosure sale. The amount past due usually includes late fees and legal fees, but if you are able to satisfy the lender’s request a foreclosure can be avoided. It may also be possible to work out some other type of arrangement regarding payments, usually in the form of an amount slightly higher than the existing mortgage, with the goal being to make up what was due from the missed payments.

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 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 attorney discuss foreclosure...

What is foreclosure?
A foreclosure happens when the lender retakes possession of the home, which was the collateral for the mortgage. Generally this occurs when the borrower has defaulted on the loan and is unable to work out an agreement with the lender. To protect its interest, the lender will retake the home and try to sell it to cover the outstanding balance.

Can I stop a foreclosure?
There are several ways to stop a foreclosure. One is to pay the default amount – generally equal to the number of missed payments plus some late fees. Some lenders will not accept the default amount and require the entire loan balance due in order to remain in the home. If paying off those balances is not a viable option, declaring bankruptcy can prevent a foreclosure. When an individual files for bankruptcy an automatic stay goes into effect, preventing the sale of a home or the bank taking repossession of the home.

Can I remain the home after it has been foreclosed?
That generally depends on what the lenders plans are and whether it was sold at the trustee sale. It is often possible to prolong the amount of time you can remain in a home after defaulting on your mortgage but it is difficult if the bank gets the Sheriff involved. Going through an unlawful detainer process is not simple and can make finding a new place to live difficult.

What if I cannot afford my home but don’t want a foreclosure?
You should ask you lender if they do a “cash for keys” exchange. That is basically just letting the lender know you cannot afford to remain in the home but want to leave without any issues. If you surrender your keys to the lender they will often pay you to help cover certain moving expenses. This is done to protect the lenders interest in 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 attorneydiscusses bankruptcy and foreclosure...

Filing a bankruptcy petition prior to the sale of a foreclosed home stops the foreclosure process. Bankruptcy and foreclosure are closely related in the sense many individuals look to bankruptcy to help discharge debts and stop adverse actions against them. When the bankruptcy petition is filed a stay automatically goes into effect.

The stay prevents lawsuits, garnishments, and other actions from being filed against debtors while under the protection of the bankruptcy court. The automatic stay is an important tool for individuals who want to stop a foreclosure. The stay not only allows individuals to remain in their homes during bankruptcy but also allows them to rearrange their finances in order to work out a feasible repayment plan.

Lenders, however, can petition the court to have the stay lifted as applied to them. The stay is generally lifted if the individual communicates to the bank that there is no intention to remain in the property or that the property is to be surrendered during or after the bankruptcy. The bank often wants to retake possession of the home in order to protect its interest in the property.

The automatic stay goes into effect regardless of what chapter bankruptcy is filed. It is important for those filing for bankruptcy to understand that it is still possible to lose property when the bankruptcy petition is filed. As mentioned above, creditors will often ask the court to lift the stay if the property is not essential to the debtors reorganization or if payments are not made after the petition is filed.

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 Jose Bankruptcy Attorney explains how a short sale or foreclosure can create an unexpected tax bite that a Chapter 7 bankruptcy can prevent.

Given the current state of the economy and the drop in housing values, may people are pursuing short sales to avoid the stigma of a foreclosure on their credit report. What many of them do not realize is that both a short sale and a foreclosure can lead to unexpected tax hits from the IRS if they used home equity loans when the value of their home is high. If the home equity loan, is forgiven in the short sale or foreclosure, you can owe taxes on the amount forgiven from the second mortgage as taxable income.

This is not the case in a Chapter 7 bankruptcy filing. In a Chapter 7 bankruptcy, the estate is liquidated, and any erased debts are not taxable by law. In a Chapter 13 bankruptcy filing, the estate is “reorganized” and the debtor is allowed to pay back some of the debts based on his or her income. Your bankruptcy attorney can help you sort through the options available to you and can explain any possible tax consequences of a Chapter 13 bankruptcy.

Bankruptcy is not the end of the world financially, nor should it be used lightly. To that end the 2005 bankruptcy reform law set guidelines on how long a filer must wait before he or she can file for bankruptcy following a Chapter 7 or Chapter 13 bankruptcy filing.

Equity loans come back with a bite, The Press Democrat, December 5, 2009

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 lawyer helps answer: What do I do if I receive a notice of default?

What is a notice of default?
A notice of default is a letter from the bank or other mortgage lender informing you that the monthly mortgage payments on your home have not been made and that the loan is now in default.

What does the notice of default mean?
The notice of default means that you have missed one or more prescheduled payments. Typically the notice states when the payments were due and what is needed in order to cure the default. Some lenders will require that the entire balance be paid while others will just require the amount in arrears. Often administrative fees are also included

Does a notice of default mean my home will be foreclosed on? That depends. The notice does not necessarily mean that a foreclosure is imminent. The borrower can cure the default by paying the amount requested by the lender. If the borrower is unable to pay the cure amount, filing bankruptcy will automatically stay any further action the lender can take against the borrower. Filing bankruptcy will then allow the borrower to catch up on past payments.

How can bankruptcy help someone who receives a notice of default?
As mentioned above, filing bankruptcy will automatically stop any proceeding or other action the lender is taking or plans to take against the borrower. This allows the borrower a chance to develop a repayment plan to catch up on the missed payments. While the borrower will still be responsible for the regular monthly mortgage amount, the past due amount is not due all at once and repayments can be stretched over a period of three to five years.

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 lawyer answers questions related to How to Stop Foreclosure in San Francisco?

What is foreclosure?
A foreclosure is the sale of a home through auction, by a bank or other lender, when the mortgage payments are in default. The purpose of the sale is for the bank to take the proceeds to pay off the mortgage amount. Any difference between the amount owed and the amount sold is called a deficiency, which the bank can then come after the owner for.

How does a foreclosure start?
Generally, an individual who wishes to purchase a home will borrow money from a bank or other lender. A contract is made whereby the borrower agrees to make monthly payments of a certain amount for a certain number of years. The terms of the contract will also state that if the borrower fails to make payments, the lender can obtain a court order to foreclose on the home. Notice is given to the lender either to pay the amount owed or else the home will be sold at auction.

How can I stop foreclosure?
There are various ways in which an individual can stop foreclosure of his or her home. Sometimes just explaining your financial circumstances to the bank will persuade them to give you more time to catch up on payments. Other alternatives include seeking a loan modification, which is a separate contract aimed at making the monthly mortgage payments more manageable. Often, however, the only way to stop foreclosure is to file a bankruptcy petition.

How does bankruptcy stop foreclosure?
When you file a bankruptcy petition, an automatic stay goes into effect, which will stop foreclosure, wage garnishment, and other legal proceedings against you. The stay will allow you to remain in your home and the bank will not be allowed to proceed with the foreclosure. The hope is that during bankruptcy you can work out an arrangement to develop a plan to catch up on the amount you are behind on your payments. If it turns out there is no feasible way to catch up on your payments, the filing will at least stop the foreclosure long enough to allow you more time to consider your options regarding your living situation.

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 answers this important bankruptcy question...

As a San Francisco Bankruptcy Attorney, I know that many people are worried that filing bankruptcy will cause them to lose their homes. Many times, that is not the case unless it is a Chapter 7 bankruptcy and there is equity in the home. People make this mistake because a Chapter 7 bankruptcy involves liquidating most of a debtor’s assets to pay creditors, including the home. But in reality, homeowners who end up filing often don’t have enough equity in their home to benefit creditors. They do not have enough equity because they’ve taken out a second mortgage or the home’s value has fallen or both. In these types of cases, the trustee handling the bankruptcy can decide not to liquidate the home, in which case the debtor gets to keep it. This is usually the case because the trustee will not take an asset that does not have money in it.

The home can also be saved via the Homestead exemption. In most cases, the Homestead exemption will allow you to keep your primary residence if your equity in it is below a certain threshold. It can vary widely from state to state: from $30,000 for a married couple filing Chapter 7 bankruptcy in Illinois, for example, to $75,000 for the same in California. So, the government has to pay you for the exemption before they will consider taking the home to pay the 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 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!