LEGAL PROTECTION

At Keep Your House California we take pride in our high success rate thru non-legal avenues. However, when your home is at stake it's important to consider all options. Some of the legal options available thru our office include:

Reinstatement Plans

We understand the hardship of catching up on past due payments. Let us get you back on track by negotiating a plan with your lender that allows you to pay your past due amount back over time. We'll get you out of the foreclosure process and back on track with your payments. This option is great if you've endured a temporary hardship in the past, but are now able to afford your monthly payments.

Bankruptcy

Bankruptcy can be a powerful tool in helping homeowners avoid foreclosure. Bankruptcy includes a feature called an “automatic stay.” The automatic stay stops any collection actions against you, including repossession, collection lawsuits, and foreclosures. Your lender will have limited foreclosure options as you go through the bankruptcy process. The process may allow you to both avoid foreclosure, catch up on past due payments, and renegotiate the terms of your loan.

Bankruptcy Types Include:

• Chapter 13
• Chapter 7
• Chapter 11

Restraining Orders

A restraining order is typically used to assist homeowners with limited time (sometimes hours) until auction. In these cases, homeowners are forced to file a Temporary Restraining Order (TRO) against their lender to stop the sale. The only way to get a TRO against your lender is to go through a judge. Some homeowners try to take on this task themselves, but the consequences of not being successful means the home will may be lost.

Litigation

Most Temporary Restraining Orders are followed with a mortgage litigation lawsuit. The TRO is only designed to stop the sale in order for you to take additional action. Taking the steps to sue your lender can help to ensure that you are able to permanently stop the foreclosure. Most often a TRO is followed up with litigation under the Homeowner Bill of Rights.

Surplus Funds

Your mortgage is typically null, or “voidable” after a foreclosure. However, any equity in the property legally belongs to the homeowner that was foreclosed upon. Under California law, when a property is sold at an auction for more than what was the left on a mortgage, the additional balance is known as “surplus funds.” The previous owner of the property is legally entitled to obtain all the additional funds resulting from the sale of the foreclosed property. Keep Your Keys is highly experienced in collecting such funds for homeowners.

Keep Your House California

Keep Your House California has helped thousands of southern California homeowner with any number of the scenarios above. Leave your checkbook at home and contact us today to get started.