Stop foreclosure in Irvine, speak to a bankruptcy attorney for free!
Irvine, CA (PRWEB) August 06, 2012
When a foreclosure takes place 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 a Irvine attorney. The law offices of Zhou and Chini one of Irvine’s better known bankruptcy firms, is putting forth a massive marketing campaign to try to save homes for Southern California residents. To learn more about a filing chapter 13 bankruptcy in Irvine visit http://www.bankruptcyattorneyirvine.info
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 Irvine 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. Another option for those who may qualify is a reverse mortgage Orange County loan. To find out more contact a bankruptcy attorney in Orange County to go over your options.
A homeowner can also stop foreclosure process by filing bankruptcy in Irvine. 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 Irvine bankruptcy lawyer can help you filing for bankruptcy now.
Filing for Chapter 13 in Irvine may be an option when facing a foreclosure. By filing a petition for Chapter 13 bankruptcy, foreclosure proceedings will automatically be stayed (stopped, delayed). Chapter 13 is the “reorganization” chapter of the Bankruptcy code wherein there is a proposed “plan” for restructuring debts. This is often referred to as “Individual Debt Adjustment” or “wage earner’s plan.” Chapter 13 serves to protect the debtor’s property from liquidation, as would occur in a Chapter 7 bankruptcy. The debtor is required to pay bills over a specified period of time, usually 3 to 5 years. During that time, creditors are restricted from pursuing collections, including contact, lawsuits and more. Foreclosure proceedings may also be stayed. An individual with regular income may be eligible for a Chapter 13, even if he or she is self-employed or operates an unincorporated business. A corporation or partnership is not eligible for Chapter 13. If you are an individual with less than $307,675 in unsecured debt and less than $922,975 in secured debt, you may be eligible to file for Chapter 13. Additionally, you must have received credit counseling from an approved agency within 180 days before filings. Speak with an attorney in Irvine if you have any questions about filing to bankruptcy.
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 Irvine, 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 Irvine Facebook page visit http://www.facebook.com/BankruptcyAttorneyIrvine
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 Irvine, Los Angeles, Orange County and San Diego residents. For more information about the bankruptcy law firm please call the toll free, 888-901-3440 or visiting http://bankruptcyattorneyorangecounty.org/