Oakland California Foreclosure Help, Defense, Laws and Process

 


In the recent times we are living the economy has deteriorated. Globally all sectors are affected. For hose of us who have invested through mortgage help, it even becomes more and more stressful. After one has failed to pay up the mortgage payments the lender comes knocking. At this point in time you don’t have anywhere to run to.

At this particular moment one may develop various depressions. As things are it even at times may call for short selling of some of your vital properties to salvage the threatened property in this case a house or a car.

It comes as a relief to know that one can always stop the foreclosure in accordance to the law. Through the government assistance one can always be able to stop the whole process especially if he/ she are financially unstable. The government agencies come in to save the situation. The effort of the government is combined with that of private sectors to be able to secure as many homes as possible.

If you so wish, you can engage a private attorney firm or better still an advice, agency. An experienced attorney will always be the best bet for the job. He / she should be able to choose the right decision for you. He may for example file for bankruptcy which could stop the foreclosure process from taking place.

It should however be noted that Filing for bankruptcy could not be the ultimate solution, It at times may lead to adverse results. For instance, you may be denied a similar mortgage for up to 6 years. Hence, it is very healthy to make a point of meeting the attorney, one on one. This will ensure that your problem gets the best solution.

It is always good to serve the soup while hot. Make sure you take the necessary steps when you still have time.

Stop Foreclosure in Oakland California

Though the foreclosure process can be stopped, it will remain a hypothesis until you take the necessary steps in good time to salvage your property .The following are the means and ways you can stop the process.

  • The surest way to stop the foreclosure is to pay the mortgage when you have money. At time we tend to ignore our due obligation to pay up when we have cash and instead use it for short lived leisure.
  • The objective is to stop the process. When you feel like you have got unnecessary property you can always cash them and pay up the remaining balance. Over time when you are financially sound you can always buy others even better.
  • Loan modification from banks could also come in very handy in stopping the process of foreclosure.
  • Engaging legal advice could the most sound decision one could ever take. With an experienced law practitioner you will be sure to be on the winning side. An attorney will be in a position to advice you on the safest situation to file for bankruptcy and when not to.
  • The other sure way of stopping the process is to constantly communicate with your lender. This will give you a platform to table your financial status. With your lender knowing your situation you can always come up with easier ways of clearing your debts.

Oakland, California Foreclosure Process

  • The process takes 3-6 months.
  • The primary documents used are deeds of trust and mortgages.
  • The lender issues a notice to the debtor once he / she fail to pay 3 consecutive interests.

Once cleared by the bank the creditor may contract a sheriff to sell the property on his behalf.