Stop foreclosure, speak to a Orange County Bankruptcy attorney today!
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Orange County, CA (PRWEB) August 02, 2012
A foreclosure is when the lender reclaims a home by legal process to recoup the outstanding balance on a mortgage or loan. The property is sold, usually at auction, and the proceeds of the sale are used to settle the debt. The foreclosure process differs from state to state, and can happen as quickly as 30 days from the time that a notice is received. In some cases, the lender can also come after the person for the remainder of the loan if the sale price doesn’t satisfy the debt. There are actions that a homeowner can take in order to stop a foreclosure with the help of an Orange County attorney. The law offices of Zhou and Chini one of Orange County’s better known bankruptcy firms, is putting forth a internet marketing campaign to try to save homes for Southern California residents. To learn more about a filing chapter 13 bankruptcy in Orange County visit http://bankruptcyattorneyorangecounty.org/
The homeowner can also try to negotiate a loan modification with the lender. This can allow the property owner to keep your home and make the payments on the debt more manageable. Many programs have been created to help homeowners stay in their homes due to the current mortgage crisis. The U.S. Department of Housing and Urban Development provides information on the government’s programs to help homeowners negotiate a mortgage modification. An Orange County attorney can help with negotiating with a lender to obtain a loan modification. Fees associated with the negotiation process may limit the benefits of the modification received. The law offices of Zhou and Chini can also check to see if the homeowner qualifies for the new HARP 2 refinance program for residents who are upside down in their home loan.
A homeowner can also stop foreclosure process by filing bankruptcy in Orange County. By filing a Chapter 13 bankruptcy case the person filing can catch up on back payments on the home through the payment plan worked out with the bankruptcy trustee. The homeowner must continue to make timely payments on your home during the bankruptcy case, or the lender petition the court to proceed with the foreclosure sale. A experienced Orange County bankruptcy lawyer can help you filing for bankruptcy now.
According to DQNews.com "The number of Southern California homes sold in June for less than $200,000 fell 3.0 percent from a year earlier, while the number that sold for $200,000 to $400,000 increased 7.8 percent. Sales between $300,000 and $800,000 – a range that would include many move-up buyers – increased 12.8 percent year-over-year. Sales over $800,000 rose 7.1 percent from June 2011. Foreclosure re-sales – properties foreclosed on in the prior 12 months – accounted for 24.5 percent of the Southland resale market last month, down from a revised 26.9 percent the month before and 32.9 percent a year earlier. Last month’s figure was the lowest since foreclosure re-sales were 24.3 percent of the resale market in December 2007. In the current cycle, the figure hit a high of 56.7 percent in February 2009". There were 16,724 Orange County CA foreclosures in June 2012, according to RealtyTrac.com. According to the data there is a downward trend in foreclosures in Orange County California. For homeowners with equity and are over the age of 65, they may qualify for a reverse mortgage in Orange County, that may be an option also for some residents.
The firm uses SEO professional services to assist in law firm marketing to promote the message about the importance of speaking with an experienced bankruptcy attorney in Orange County, if someone is considering filing. The firm continues its online presence by offering zero cost bankruptcy information on the bankruptcy firm’s blog and social media pages. This information along with free consultations the firm hopes to help more homeowners learn about chapter 13 bankruptcy and what options they may have. To read more on the bankruptcy firm’s Orange County Facebook page visit https://www.facebook.com/BankruptcyAttorneyOrangeCounty
About the Firm: The Law Office of Zhou & Chini servicing the cities and counties of California. He is a graduate of UCLA and has been practicing law since 1999. Mr. Zhou has a wealth of experience in bankruptcy, civil litigation, family law, criminal law and unlawful detainers. Zhou and Chini Law Offices provide bankruptcy assistance to Orange County, Los Angeles, Riverside and San Diego residents. For more information about the bankruptcy law firm please call the toll free, 888-901-3440