As a result of the real estate crisis, many homeowners have suffered foreclosure or are on the verge of suffering foreclosure and do not know how to move forward in protecting their rights and homes.
Some are in denial, others have heard that filing bankruptcy is the immediate answer, and others are simply praying for a miracle. The good news is that there are options and the fight is not over, the bad news is that it will take some effort on behalf of the homeowner to fight the lender and get the best possible solution.
There are five types of scenarios in regard to foreclosure, with the first being the best and the last being the worst-case scenario. However, this does not mean that the game is over, even if you are in the fifth scenario of the following situations:
1. A trustee sale has not yet taken place;
2. A trustee sale took place, however there was no third party bona fide purchaser because the lender took back the property on a credit bid;
3. A trustee sale took place and the property was sold to a third party bona fide purchaser;
4. A trustee sale took place, the property was sold back to the bank and you are facing eviction because an unlawful detainer action is proceeding against you.
5. A trustee sale took place, the property was sold to a third party bona fide purchaser and you are facing eviction because an unlawful detainer action is proceeding against you.
Depending on which situation you are in, the plan of attack and end results may vary, however one constant generally remains in your arsenal and that is to sue the lender for various violations pertaining to the foreclosure process and required notices.
Many homeowners are unaware of California’s strict foreclosure laws, especially the newly enacted Homeowner’s Bill of Rights, and fail to realize that in the majority of these cases the lenders have not complied with the requirements for a valid trustee sale, and are unlawfully depriving them of their homes. It is up to the homeowner to either educate himself and attack the lender in pro per (without legal representation), or hire an attorney who specializes in wrongful foreclosure to vindicate his rights.
Either way, it is my attention to help you through this process. I sincerely believe that a homeowner unable to hire counsel is not without options. With some guidance, a homeowner can represent himself in pro per.
Depending on the homeowner’s desired results and personal situation, filing a bankruptcy in addition to filing a civil action may be advisable. However, unlike the popular myth perpetrating the community, unless one qualifies for a Chapter 13 repayment plan, filing a bankruptcy only temporarily prevents the foreclosure of your home.
My firm specializes in representing homeowners in wrongful foreclosure, including homeowners who cannot afford the full legal services and require only preparation of legal documents, or review and consultation as to already prepared documents. The goal is always the same – to help homeowners vindicate their rights.