California Foreclosure Attorney

Real Estate Transactions: Short Sale & Deed in Lieu of Foreclosure

If your home loan is in default and you are facing a possible foreclosure, you may have other options. Sometimes, Chapter 13 bankruptcy simply is not an option for some, and the best thing to do is to follow through with a short sale or deed in lieu of foreclosure.

An attorney can help you review your options regarding your potential foreclosure and can help you if you are considering a short sale or deed in lieu of foreclosure. At the Law Office of J. Arthur Roberts and Associates, we are experienced in assisting clients who are facing foreclosure and can help. Headed by attorney Joe Roberts, our firm serves California, including Los Angeles, Orange County and the surrounding areas from our Newport Beach office.

When you are facing any complex financial issue, particularly one that can affect your financial future for the next 7 to 10 years, it is important to work with a California foreclosure lawyer you can trust. You will need a lawyer who is experienced in California mortgage law and who can offer you the best legal counsel possible.

Short Sale: An Option to Avoid a Foreclosure or Bankruptcy

If you owe more than your home is currently worth and are looking to sell, a short sale may be a good option. This is a decision that you should only make after discussing your particular situation with your attorney, in order to ensure you are doing the right thing for your financial future. During a short sale in California, you can sell your home to a buyer who is willing to pay less than the current mortgage amount that you owe. You will then give all the proceeds of the sale directly to the lender – fully satisfying your debt.

A short sale helps you avoid having a foreclosure or bankruptcy on your credit. Sometimes, even after a Chapter 13 bankruptcy, a homeowner simply cannot afford to make payments on his or her home. A short sale enables you to sell your home and to avoid foreclosure.

Deed in Lieu of Foreclosure in California

A deed in lieu of foreclosure may be a useful option if Chapter 13 bankruptcy and foreclosure are not good options for you. During this process, you surrender all claims to your house and give the deed to the mortgage holder. This may be an option that will work for both you and the lender. Again, with this option, it is best to have a lawyer review the transaction and all aspects of your situation before you move forward.

When foreclosure and bankruptcy are not options that you would like to face, and you do not want to or are unable to keep your home, a deed in lieu of foreclosure or a short sale may be the way to go.

Contact a California foreclosure attorney at the Law Office of J. Arthur Roberts today!