Schedule a free consultation with one of our experienced Los Angeles Foreclosure Lawyer today by filling out the form below, or call us at 415-273-8015.
Facing foreclosure can be one of the most stressful and challenging experiences any homeowner may encounter. The thought of losing your home, both a personal sanctuary and a significant financial asset, can feel overwhelming. However, with the right legal support, you may have more options than you realize to safeguard your property and financial well-being.
Our skilled foreclosure defense lawyers at Shapero Law Firm can provide invaluable assistance at every stage of the foreclosure process, from strategic pre-foreclosure interventions and negotiations to comprehensive post-foreclosure remedies.
In Los Angeles, foreclosure is a legal process initiated when a homeowner fails to make their mortgage payments. The lender then takes steps to sell the home to recover the outstanding balance of the loan, following California state laws.
Foreclosure is serious, as it means you could lose your home. But it’s not always a fast process. There are often chances to fix things before you lose your house.
In Los Angeles, the main group that can start a foreclosure is your mortgage lender. This is often a bank or other financial company. They loaned you money to buy your home, so they have the right to take it back if you don’t pay.
Sometimes, other groups can start foreclosures. These might include:
Homeowners associations can also sometimes start a process like foreclosure for unpaid dues. But this works a bit differently than a regular mortgage foreclosure.
It’s key to know who has the right to foreclose on your home. This can affect your options for fighting the foreclosure. Our Los Angeles foreclosure lawyers can help you figure out who’s trying to foreclose and if they have the legal right to do so.
Getting a foreclosure notice is scary, but don’t panic. Your first step should be to read the notice carefully. It will have key info about why you’re being foreclosed on and what you need to do next.
Next, gather all your mortgage documents and records of payments. These will be important for understanding your situation and talking to your lender or a lawyer.
It’s also smart to write down your income and expenses. This can help you see if you can afford your home or if you need to look at other options.
One of the most important steps is to talk to a foreclosure lawyer near you. At Shapero Law Firm, we can look at your case and tell you about your rights and options. We might find ways to challenge the foreclosure or negotiate with your lender.
Remember, ignoring a foreclosure notice won’t make it go away. Taking action quickly gives you the best chance of keeping your home or finding a good solution.
In Los Angeles, the time you have to respond to a foreclosure notice depends on the type of foreclosure. California has two main types: judicial and non-judicial. Most foreclosures in Los Angeles are non-judicial, which means they don’t go through the court system.
For non-judicial foreclosures, you’ll first get a Notice of Default. After this, you have 90 days before the lender can give you a Notice of Sale. The sale can happen 21 days after that.
This means you often have at least 111 days from the first notice to the sale of your home. But it’s best not to wait that long to act. The sooner you respond, the more options you might have.
If you get a judicial foreclosure notice, which is less common, you usually have 30 days to respond to the court.
These timelines can change based on your situation. Our attorneys can help you understand exactly how much time you have and what to do next.
With over a decade of litigation experience, Attorney Sarah Shapero, founder of Shapero Law Firm, has secured seven-figure jury trial wins and saved countless homes from foreclosure. A Super Lawyer and Lawyer of Distinction, she brings expertise in foreclosure, employment, and bankruptcy law, practicing in California and federal courts.
Trust her proven track record and commitment to delivering powerful legal results.
There are several legal defenses that might help you fight a foreclosure in Los Angeles. Here are some common ones:
Our foreclosure lawyers in Los Angeles can look at your case and see which defenses might work for you. We can help you gather evidence and present your case in the best way possible.
Our experienced foreclosure attorneys in Los Angeles have several ways to delay or stop a foreclosure:
Remember, the earlier you get a lawyer involved, the more options you’ll have. Our attorneys at Shapero Law Firm can look at your specific situation and choose the best strategy to help you keep your home or find a good alternative.
Foreclosure isn’t the only option when you’re struggling with your mortgage. There are several alternatives that our Los Angeles foreclosure lawyers can help you explore:
Our foreclosure defense lawyers in Los Angeles can help you understand which of these options might work best for your situation. We can also negotiate with your lender on your behalf to try to get the best possible outcome.
Negotiating a loan modification can be difficult, but it’s often worth trying. Here’s how to approach it:
Remember, lenders aren’t required to give you a loan modification. But many are willing to work with homeowners to avoid foreclosure. Our team can help improve your chances of getting a modification that works for you.
Going through a foreclosure can have long-lasting effects on your financial life. It’s important to understand these consequences. A foreclosure can significantly lower your credit score, potentially by 100 points or more, and this negative mark can remain on your credit report for up to 7 years. This credit impact can make future housing arrangements more difficult, whether you’re looking to rent or buy a home.
Foreclosure can also affect your employment prospects, as some employers check credit reports, especially for jobs involving financial responsibility. There may be tax implications as well. If your lender forgives any part of your mortgage debt, you might have to pay taxes on that amount as income.
Beyond the financial aspects, foreclosure can cause significant emotional stress. Losing your home can be emotionally devastating, and it’s important to seek support if you’re struggling.
Our foreclosure lawyers in Los Angeles can help you understand these consequences and possibly find ways to minimize them. We might be able to negotiate with your lender for a solution that avoids foreclosure altogether.
Foreclosure can have significant tax implications. If your lender forgives part of your mortgage debt, the IRS may consider this as income, and you might have to pay taxes on this amount. This is known as cancellation of debt income. In the rare case that your home sells for more than you owe in foreclosure, you might owe capital gains tax on the difference. It’s also important to note that you’re responsible for property taxes up until the foreclosure sale.
Our foreclosure lawyers in Los Angeles can help you understand these tax implications and might be able to suggest strategies to minimize your tax burden.
Your home is one of your most important assets, both financially and emotionally. Missing mortgage payments can put it at risk of foreclosure, where your lender may move to take possession of your property. Acting quickly is critical to protecting your home and financial future.
Having a local foreclosure defense lawyer is essential because they understand the specific laws and court procedures in California. At our Southern California office on West 5th Street in Downtown Los Angeles, our experienced foreclosure defense lawyers are dedicated to protecting your home, rights, and financial stability.
To make it easy for you to find us, we’ve provided the map and directions below. Visit our conveniently located Los Angeles office for personalized support and effective foreclosure defense.
If you’re facing foreclosure in Los Angeles, don’t wait to get help. Our Lo Angeles foreclosure lawyers can review your situation, explain your options, and help you choose the best path forward. We can negotiate with your lender, represent you in court if needed, and work to protect your rights throughout the process.
Remember, the earlier you seek legal help, the more options you’ll likely have. Our experienced attorneys can find solutions you might not have known were available. We can help you understand the foreclosure process, explore alternatives, and work towards the best possible outcome for your situation.
Don’t face foreclosure alone. Reach out to our Los Angeles foreclosure lawyers today or call 213-394-6031 to schedule your consultation and take the first step toward resolving your mortgage issues.
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I contacted Sarah when I was facing tough legal issues. Although I never met her in person she ended up being an amazing advocate, tough negotiator and very knowledgeable representation. In all my communication Sarah was clear, thorough and very neutral about my position and options. I’ve had multiple dealings with attorneys…so I’m experienced. I would give Sarah top ratings across the board.
I have worked with many in the past and Sarah is great with understanding my goals and working with me to create a plan that fits those goals. She has assisted on a number of real estate transactions and legal matters for me and is always available, communicative, and presents all options with risks and costs so we can decide the best route. Highly recommend.
I cannot thank the Shapero Law Firm’s Real Estate team enough for their outstanding service. They are a shining example of what a law firm should be: knowledgeable, compassionate, responsive, and effective. If you are in need of real estate legal services, look no further – the Shapero Law Firm is the gold standard. I wholeheartedly recommend them to anyone seeking expert guidance and representation in the realm of real estate law. They have earned every one of these five stars and more!
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Tenants have certain rights when their rental property goes into foreclosure. They must receive written notice about the change in ownership. In many cases, the new owner must honor existing leases. If there’s no lease, tenants usually get 90 days to find a new place. The new owner is also responsible for returning the security deposit.
Our Los Angeles foreclosure lawyers can help both landlords and tenants understand their rights and obligations in these situations.
When choosing a foreclosure lawyer in Los Angeles, there are several factors to consider. Look for a lawyer with specific experience in foreclosure cases in Los Angeles. They should be up-to-date on California foreclosure laws and local regulations. Choose a lawyer who explains things clearly and responds promptly to your questions. They should be able to outline a clear strategy for your case. Understand their fee structure upfront, and don’t hesitate to ask for references or look for reviews from past clients.
Remember, your choice of lawyer can significantly impact the outcome of your case. Take the time to find someone you trust and feel comfortable working with.
Yes, in some cases, foreclosure can be reversed even after it has started. If you can pay all missed payments plus fees, you might be able to reinstate your loan. Your lender might agree to modify your loan terms to make payments more affordable. Filing for bankruptcy can temporarily stop the foreclosure process. If there were errors in the foreclosure process, a lawyer might be able to challenge it in court.
The key is to act quickly. The further along the foreclosure process is, the harder it becomes to reverse. Our Los Angeles foreclosure lawyers can help you understand your options based on your specific situation.
Yes, there are several government programs that might help homeowners facing foreclosure in Los Angeles. The California Mortgage Relief Program can help eligible homeowners catch up on mortgage payments. While the Keep Your Home California program has ended, similar assistance may be available. HUD-approved housing counseling offers free or low-cost counseling to help you understand your options. The federal Making Home Affordable Program has ended, but your lawyer can check if similar options are now available. If you have an FHA loan, you might be eligible for the FHA-HAMP modification program.
Our foreclosure lawyers in Los Angeles can help you determine which programs you might qualify for and assist you with the application process. We can also keep you informed about any new programs or changes to existing ones that might benefit you.
Remember, facing foreclosure can be overwhelming, but you don’t have to go through it alone. Our skilled foreclosure lawyer in Los Angeles can guide you through the process, help you understand your rights, and work to achieve the best possible outcome for your situation. Don’t hesitate to reach out for legal help – it could make all the difference in keeping your home or finding a favorable alternative.
Yes, you can buy a home again after a foreclosure, but you’ll likely face some challenges. Most lenders require a waiting period after a foreclosure before they’ll consider you for a new mortgage. This waiting period can range from 2-7 years, depending on the type of loan.
You’ll need to work on rebuilding your credit score. This might involve getting a secured credit card, taking out a credit-builder loan, or becoming an authorized user on someone else’s card. When you’re ready to buy again, you’ll likely need a larger down payment for your next home purchase.
Be prepared to explain the circumstances that led to your foreclosure and how your situation has improved. It’s also worth looking into special programs, like those offered by the FHA, which may have shorter waiting periods or more lenient requirements.
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Schedule a free consultation with one of our experienced lawyers today by filling out the form below, or call us at 415-906-6134.
Schedule a free consultation with one of our experienced lawyers today by filling out the form below, or call us at 415-273-8015.