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I am in Default on My Home Mortgage. What Are the Options Available to Me?

Over the course of the past few years, as the declining economy has caused property values in the East Bay and the Bay Area to rapidly drop, I have counseled hundreds of homeowners regarding strategy in dealing with impending foreclosure on their home.  The questions are always the same:

•    What are my available options
•    What are the consequences of walking away
•    Can I be held personally responsible for any part of the mortgages on my home
•    What about a short sale

This area of law is extremely complex, and the answers to all of these questions, and many other related questions, is dependent upon your individual circumstances. Circumstances such as:

•    Whether there is just one or multiple mortgages, and if there are multiple mortgages, which lender is foreclosing
•    Do you live in the property
•    Were any of the mortgages refinanced since purchasing the property
•    What procedure is the lender utilizing to foreclose

There are lots of other circumstances which bear on a underwater homeowner’s options in dealing with foreclosure.  I offer a flat fee consultation, which enables homeowners with reliable information and advise regarding the consequences of each option available to them, and enables them to make some very difficult but important decisions.  I offer these consultations, which typically last about an hour, or more if necessary, at the flat rate of $350. If you believe that you would benefit from a foreclosure consultation, please feel free to call me to arrange for a consultation.

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