 Los Angeles, California - The thought of losing a home in foreclosure can be terrifying and financially devastating at the same time. There are options available to help individuals stop foreclosure of their property, and this short article will highlight the most effective methods. How to Stop a Foreclosure Sale Immediately If a person wants to learn how to stop foreclosure on their property, it is best to talk to a foreclosure lawyer about the specific situation, and discuss legal methods that may be available. Four reliable options are typically available to save a home from foreclosure, each of them has pros and cons: File a lawsuit – a lawsuit can be filed to stop a wrongful foreclosure. A foreclosure attorney can evaluate the case to discern if the lender or bank is violating existing laws such as the dual tracking prohibition in California under the foreclosure laws. File bankruptcy- filing bankruptcy will immediately stop foreclosure of a property and eliminate debt. Either chapter seven bankruptcy or chapter thirteen bankruptcy will stop foreclosure; at least temporarily. Bankruptcy eligibility should be determined by an experienced foreclosure attorney. Apply for a loan modification - A modification will delay the foreclosure, and the borrower may have the opportunity to reduce their loan payments with the approval of the bank or lender. It is best for a borrower to apply for a loan modification directly with the lender. There is no need to hire a lawyer to help with this process. However, if the lender sends a notice of default or notice of trustee sale during the loan modification process, it is best to call a lawyer immediately to stop the foreclosure. Apply for a short sale- A short sale will delay the foreclosure, and the borrower can have the opportunity to sell the house with the approval of the bank or lender. The lender must agree that the house may be sold for a lesser amount than what is owed for mortgage loans. Similarly, requesting a deed- a deed in lieu of foreclosure will stop foreclosure of a property by transferring the interest in the property back to the lender. According to Lauren Rode, a partner at Consumer Action Law Group, “it is always best to hire a foreclosure attorney to stop an illegal foreclosure. An experienced foreclosure lawyer can prevent illegal foreclosure and fight against mortgage fraud.” Ms. Rode advises against relying on the lender for assistance, she says that asking the lender to help save the home “is a mistake many borrowers make when trying to stop foreclosure. A foreclosure lawyer can quickly discover legal violations and file a lawsuit against the lender. Mortgage litigation usually stops a foreclosure, and bankruptcy can be filed to immediately stop foreclosure if a judicial order is denied.” When to contact a foreclosure attorney According to Lauren Rode, an experienced foreclosure attorney in Los Angeles , “A skilled foreclosure attorney should be consulted immediately after the receipt of a notice of default or a notice of trustee sale. A foreclosure attorney will quickly analyze the situation and offer solutions; prompt legal action can halt foreclosure of a property within minutes of the call. “ Foreclosure of an individual's property can be disheartening, but it is not a hopeless situation. The individual has the option of filing a lawsuit, filing for either chapter 13 or chapter 7 bankruptcy, applying for a short sale or requesting a deed in lieu of foreclosure. It is best making important decisions with the advice of a highly skilled and experienced foreclosure lawyer , who will ensure that legal actions are taken immediately, and the home can be saved from foreclosure. About Consumer Action Law Group Consumer Action Law Group is a law firm located in Los Angeles, California. Their foreclosures lawyers have successfully stopped hundreds of foreclosures for California residents. Individuals who live in California can call Consumer Action Law Group to stop foreclosure and receive free legal advice. Attorneys at Consumer Action Law Group have stopped foreclosures within 5 minutes of the call coming in. Consumer Action Law Group is currently offering free legal advice to California Residents who need foreclosure help by calling 818-254-8413. For Media Inquiries Contact Person: Lauren Rode, Esq. Telephone: (818) 254-8413 Email: Lauren@consumeractionlawgroup.com Video: https://youtu.be/K11Xaq9e_rU Website: http://consumeractionlawgroup.com
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