Tag Archives: Avoiding Foreclosure

2014 Enhancements of California’s Anti-Deficiency Statutes Give Added Protections to Foreclosed Homeowners

With the new year California homeowners who might suffer a foreclosure now will have enhanced protections against mortgage lenders or debt buyers trying to collect on a foreclosed first mortgage or sold-out junior mortgage. Senate Bill 426, signed into law in July 2013 and effective on January 1, 2014, strengthens California’s existing anti-deficiency statutes. Specifically, […]

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Why a Strategic Short Sale Should Never Be Characterized as “Mortgage Fraud”

Today’s post isn’t really about bankruptcy per se, but as a bankruptcy attorney in California, as you might imagine, I have had an up front and personal perspective on the mortgage crisis over the last several years. I was listening to the California Report on my San Francisco Bay Area NPR affiliate, KQED, last week […]

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How the National Mortgage Settlement May Help California Homeowners and Those Who Have Lost Their Homes

Since long before the beginning of the current economic downturn, we have counseled hundreds of individuals and families seeking information about filing personal bankruptcy in the Bay Area. But since this recession began, those seeking bankruptcy advice have likewise needed advice on how they might be able to avoid foreclosure, modify their home loans, or […]

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What Is the Difference Between Avoiding a Junior Mortgage Lien and Discharging a Mortgage Loan in California Bankruptcy?

Depending on whether they are eligible for Chapter 7 bankruptcy or Chapter 13, homeowners who file bankruptcy in California with more than one loan secured by a deed of trust (which include home equity lines) may get very different types of debt relief when it comes to their second mortgage. Upon obtaining a bankruptcy discharge […]

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It Is Possible to Avoid Foreclosure in Chapter 13 Bankruptcy

Long before the current foreclosure crisis in California, I met with hundreds of San Jose homeowners desperate to save their home from foreclosure. Yes, even when times were relatively “good” for many, there have always been many Californians who have faced foreclosure due to job loss, sudden illness, failure of a small business, and other […]

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San Jose Bankruptcy Attorneys and NACBA Propose Principal Paydown Plan for Chapter 13 to Help Struggling Homeowners

In my San Jose bankruptcy practice, I meet with homeowners nearly everyday who are struggling to stay in their homes because of the foreclosure crisis. Many of them are in their 30s and 40s, and, as recently reported by NPR, disproportionately affected by steep declines in their home’s value because they had the unlucky misfortune […]

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Many Bay Area Homeowners Can Strip Off a Second Mortgage in Chapter 13 Bankruptcy

The San Francisco Chronicle reported yesterday that the number of Bay Area homes that are “under water” (meaning that the homeowner owes more on the property than it is worth) has risen again. For the nine counties comprising the greater San Francisco Bay Area, that number has risen to 24.6 percent (a rise of nearly […]

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California Foreclosures on the Rise Again

While it may not have felt that way to anyone in the Bay Area facing a possible foreclosure over the last year, the initiation of the foreclosure process—the recording of a Notice of Default by the mortgage lender—had been in decline over the first two quarters of this year. That was then. As reported by […]

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