Encino Foreclosure Lawyer

Bankruptcy May Delay Foreclosure

Foreclosure is the legal process by which a lender reclaims a home or property to recoup the outstanding balance on a mortgage or loan. The property is sold, usually at auction, and the proceeds of the sale are used to settle the debt. The foreclosure process differs from state to state and can happen as quickly as 30 days from the time that a notice is received. In some cases, the lender can also come after the person for the remainder of the loan if the sale price doesn't satisfy the debt.

How Can I Stop Foreclosure?

You can stop the foreclosure process by filing for bankruptcy. By filing a Chapter 13 bankruptcy case you can catch up on back payments on your home through the payment plan worked out with the bankruptcy trustee. You must continue to make timely payments on your home during the bankruptcy case, or the lender may petition the court to proceed with the foreclosure sale.

Reach out to Price Law Group for Guidance

If you are unsure of how to move forward or have questions, reach out to a foreclosure defense attorney in Encino at the Price Law Group. We have successfully served thousands of clients nationwide for nearly 30 years. Our team is ready to help you!

Facing foreclosure in your area? Don't wait -- the Price Law Group is here for you. Contact us online or call (866)210-1722 for a free consultation. Our services are available in Spanish!