California Foreclosure & Bankruptcy Law

California has been hit particularly hard by the current economic crisis. The collapse of the real estate market, bad mortgage instruments, and the nation's general economic problems have combined to place millions of Californians in financial jeopardy.

If you are among those suffering, you should know the options available to you to help navigate your way through these difficult times.

Local, State, and Federal governmental agencies are finally starting to implement programs designed to help struggling homeowners save their property from foreclosure, and banks are beginning to realize that they need to work-out arrangements with borrowers.

Many homeowners and investors are now "upside-down" on their properties. Those without equity in their property have a variety of options and strategies to minimize loss by re-structuring the financing of the property.

You can make the best of a bad situation if you know your rights and options!

This site discusses foreclosure, bankruptcy, and consumer debt issues. It provides you with information regarding legal and practical considerations that will help you to resolve your financial crisis.

FORECLOSURE STRATEGIES TO SAVE YOUR HOME OR DELAY ITS SALE

The possibility of losing your home is extremely stressful. Foreclosure rates are skyrocketing across the nation, and an alarming number of Californians are facing the potential loss of their homes.

There are, however, a variety of rights and strategies available to homeowners that allow them to delay foreclosure and possibly avoid foreclosure altogether. Short-sales, Short re-financing, loan modification, deeds in lieu of foreclosure, forbearance agreements, debt re-structure, attacking the original loan under federal and state lending and disclosure laws, and bankruptcy are among the options to be considered by those facing the loss of their home.

For more about the foreclosure process and to learn about alternative foreclosure strategies, click here.

BANKRUPTCY CONSIDERATIONS AND THE CONSEQUENCES OF FILING

If you are at the point that you can't pay your bills, whether through circumstances beyond your control (such as a disability), or simply as the result of overspending, you should know about the bankruptcy process.

Bankruptcy presents an opportunity to get you back on your feet. Many people feel uncomfortable with the prosepect of bankruptcy and associate a stigma to the term, but the bankruptcy process can also be viewed as a "second chance."

Throughout history, many prominent figures have declared bankruptcy, including: Walt Disney, Donald Trump, chocolate tycoon Milton Hershey, P.T. Barnum, Mark Twain, Jerry Lee Lewis, Michael Jackson, Dorothy Hamill, Lawrence Taylor, pitcher Gaylord Perry and even Presidents Thomas Jefferson and Abraham Lincoln.

Bankruptcy gives you the opportunity to eliminate some or all of your debt, and possibly keep your home and car! For more information about the bankruptcy process, click here

RIGHTS AND OPTIONS REGARDING CREDIT CARDS & COLLECTIONS

Consumer credit is a multi-billion dollar industry that has lobbied the government to allow credit-card companies to charge extraordinarily high interest rates and fees that many feel should be unlawful.

There are, however, many pro-consumer laws and organizations that prohibit creditors from engaging in certain practices and require specific disclosures and conduct both for the issuance and collection of accounts.

If your debt has become unmanageable and you are receiving calls or letters from collection agencies, you should take action and know your rights.

BEWARE of "debt reduction, debt consolidation, and debt negotiation" companies, however, as they can be scams and often do more harm than good.

To learn about your options when faced with overwhelming credit card debt or never-ending collection calls and letters, click here.

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