Foreclosure Defense Lawyer

San Juan Capistrano, CA -- (SBWire) -- 12/01/2010 -- Foreclosure defense attorneys can help people trying to avoid foreclosure with several different options. Probably the most common is to file bankruptcy or try to get a HAMP loan modification. In addition to filing bankruptcy some foreclosure defense attorneys may chose to file a lawsuit if they suspect foul play by either the lender or Mortgage Company servicing the loan. Recently there has been a wave of lawsuits filed against some of the Country’s biggest mortgage lenders. Bank of America, Wells Fargo, Chase, CITI and One West Bank are all being challenged to produce the note and prove they have the right to foreclose. Some of these lawsuits are filed before and after consumers file bankruptcy with a bankruptcy attorney. The attorney can approach the courts Trustee and challenge the securitization of the asset to prove it’s a secured asset. If not, it may be dischargeable as an unsecured asset in a Chapter 7 bankruptcy filing. While not all bankruptcy attorneys have the knowledge and expertise to pull this off, some foreclosure defense attorneys that litigate and file bankruptcy do.

Filing Bankruptcy
Filing bankruptcy is a known solution to stop a foreclosure with an “automatic stay”, but not all bankruptcy chapters will allow you to keep your home if you are delinquent. While either a Chapter 7 or Chapter 13 will help you avoid foreclosure, only a bankruptcy attorney can tell you if you can afford a Chapter 13 repayment plan or you need to file a Chapter 7 and then maybe a lawsuit. Bankruptcy attorneys are financial planners in essence, and can review your entire financial situation and help you develop a plan of action. Most homeowners trying to avoid foreclosure are mainly focused on trying to get loan modifications rather than eliminate unsecured debt such as credit cards and medical bills. The truth is, if you can eliminate other debts and adjust your lifestyle you can avoid foreclosure by filing bankruptcy and get a fresh start.

Loan Modifications
Loan modifications have helped save a lot of homes across the country, but not everyone can qualify. The truth is, a good bankruptcy attorney can tell you pretty quick if you are a good candidate for a loan modification. Additionally, the new supplemental directive issued now allows for loan modification through bankruptcy. Typically when someone is buried in debt they have to take the proper steps to eliminate some of their debt to be able to afford a modified mortgage payment. If you make too little money and don’t fall within HAMP guidelines filing bankruptcy then attempting a loan modification is a sophisticated approach taken these days. The guidelines for the government’s HAMP program allow lenders to lower mortgage payments to 31% of borrower’s income, as long as the interest rate is not lower than 2% amortized over 40 years. Additionally, if a borrower’s mortgage payments are less than 31% of their gross income and they still can’t afford the payments filing bankruptcy first then attempting the modification is the probably the way to go.

File a Lawsuit
Some foreclosure defense attorneys go straight for the jugular vein. Suing your lender these days for various causes of action may not be a bad idea if you suspect foul play. The truth is, there’s been a lot of an illegal and wrongful foreclosure practices from these companies servicing mortgage loans. When a lawsuit is filed the title on the property is clouded, making it harder for the lender to foreclose and auction off the home. Consulting a foreclosure defense attorney early in the foreclosure process is critical as most judges won’t allow a lawsuit to stop a NON-judicial foreclosure process unless there’s good reason. Typically, if the proper steps were not taken during the foreclosure process a good attorney can stop the foreclosure by filing a lawsuit. If you were denied HAMP and made trial mod payments on time you might be able to sue your lender for denying you your rights a third party beneficiary to a government program. Again, talk to an attorney who focuses their practice on helping people avoid foreclosure.

About Bankruptcy Attorney Law Offices
Our Attorneys cover all areas of foreclosure defense. We file chapter 7, chapter 13, chapter 12 and chapter 11 bankruptcies in an effort to help individuals and companies make well informed decisions and receive real bankruptcy information from knowledgeable attorneys. Our attorneys have a unique and sophisticated approach, always offering a FREE and CONFIDENTIAL consultation with a senior partner at the law firm. We are here to help you make informed decisions relating to avoiding foreclosure, filing bankruptcy and understanding what happens through the bankruptcy process. In the event you need an emergency bankruptcy filing we offer a bankruptcy information hotline and on-line bankruptcy consultation form. Our bankruptcy information hotline is answered by knowledgeable legal staff prepared to answer all your questions or schedule a FREE same day consultation with one of our Bankruptcy Attorneys. Please call (888) 901-3440 if you need immediate help or visit us online at http://www.bankruptcyattorneyincalifornia.com/