A public information resource sponsored by the Law Office of David W. Martin - (800) 229-0546

If you own your home, you should know about some important rights that affect homeowners who find themselves in financial trouble.

California was hit particularly hard by the recent economic crisis. The collapse of the real estate market, bad mortgage instruments, and the nation’s general economic problems combined to place millions of Californian homes at risk.

Local, State, and Federal governmental agencies have implemented programs designed to help struggling homeowners save their property from foreclosure.

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

FORECLOSURE STRATEGIES TO SAVE YOUR HOME OR DELAY ITS SALE

The possibility of losing a home creates extreme anxiety. Foreclosure rates rose to an alarming rate in recent years, and many Californians still face 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

Bankruptcy may afford you the opportunity to eliminate some or all of your debt, and possibly keep your home.