What Is Foreclosure?
Foreclosure Lawyer in Orange County
Foreclosure is the legal process taken by lenders to take away a homeowner's right to remain in the property and allows them to put the property up for auction unless the mortgage payments are brought up to date. The foreclosure process can either be done with a court order or by following the legal statutes in the state. The lender has a security interest in the property held by the loan made when the house was purchased. If the borrower defaults in making regular mortgage payments or ceases all payments, the lender can seek foreclosure. The lender will therefore take both legal and equitable title to the property once the foreclosure occurs. An owner has the right to redeem the property during a certain period of time during the filing, by paying the outstanding mortgage payments that are in arrears.
At the Law Office of J. Arthur Roberts, an Orange County foreclosure defense attorney can help protect your rights before, during and after the foreclosure process. Our extensive experience with every aspect of foreclosure, as well as bankruptcy, gives our clients the necessary knowledge and available options to make the right decisions with regards to their financial situation and future. With over 20 years of combined experience, we can help make a tremendous difference in the efficiency of the process, as well as strive for an optimal outcome.
Foreclosure in the State of California
If a mortgage or deed of trust agreement between the lender and borrower is violated, the bank or secured creditor will repossess or sell the real property through the foreclosure process. The state of California has a non-judicial foreclosure system, also known as foreclosure by power of sale. Once the lender sends all necessary legal notices to the owner after defaulting on payments, the property can be foreclosed without the courts being involved. Once the sale is completed, the homeowner's rights are terminated and the property is transferred back to the lender or a 3rd party purchaser.
Foreclosure can be a very stressful time that necessitates knowledgeable legal representation to ensure all options are thoroughly reviewed. It is crucial that you get help to correctly determine what legal strategy to use in avoiding a foreclosure. We can offer complete legal support and guidance with regards to your individual situation.
Contact an Orange County foreclosure defense lawyer for legal assistance with foreclosure. |