Sacramento Bankruptcy Lawyers Blog

Some people might see bankruptcy as a bad thing, but it can be a positive in many instances. There are plenty of times when bankruptcy is a help for folks who are about to lose their homes and the like. If foreclosure is on the horizon, then filing bankruptcy can give you a chance of keeping your home. Different states have different rules on how to handle homes in bankruptcies, but most have some sort of homestead provision. This means that you can most likely keep your house even if you file. The prospect of keeping your home is an important one for many. 

Filing will almost certainly set you back for a few years, but it will also give you an opportunity to get your finances in order. For lots of people, the chance to take a step back and re-evaluate is something that makes a lot of sense. If you were going to lose your home in a foreclosure proceeding, filing any number of bankruptcies can provide you with relief right away. You can stay in your home and figure things out, taking some of the pressure off when creditors just won't stop contacting you about the debt.

If you have a question regarding Bankruptcy in Sacramento please contact us at 1800.941.6730 and we can connect you with one of our experienced California Bankruptcy Attorneys . Sagaria Law can assist you with all aspects of your bankruptcy case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, lien stripping , a cram down, stopping a foreclosure or wage garnishment, asset protection, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist in all of these important areas. Please complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.

It is apparent, if you watch the news, that California is facing a foreclosure crisis that is worse than in many other parts of the country. California is currently in the top 3 states where foreclosures are rampant. The truth is, however, that the California foreclosure mess could slow down if everyone understood the follow three points:

1. California foreclosure problems are state wide and not restricted to any one type of financial status. All too often you hear the news stating that lower income mortgages are to blame for this mess. However, million dollar mansions in Beverly Hills are foreclosing at the same rate as homes in less affluent areas.
2. Government programs do not work for everyone. Loan modifications and short sale programs often sound good on paper, but many people will not qualify for these programs. Banks and mortgage servicing companies are encouraged to promote these tools, but much of the red tape involved in the process eliminates a majority of the people applying for help.
3. Loan modification programs and short sales are not the only option that home owners have to save their home. Protection through a Chapter 13 bankruptcy is an option that home owners can use to save their property. This is a viable way to restructure all of the home owner’s debt into a payment plan that will prevent another foreclosure from entering into the system.

If you have a question regarding Bankruptcy in Sacramento please contact us at 1800.941.6730 and we can connect you with one of our experienced California Bankruptcy Attorneys . Sagaria Law can assist you with all aspects of your bankruptcy case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, lien stripping , a cram down, stopping a foreclosure or wage garnishment, asset protection, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist in all of these important areas. Please complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.

The state of California has one of the highest rates of eviction due to foreclosure in the country. If you are facing a California foreclosure, chances are you will be evicted. Many home owners apply for a loan modification, or pray for a short sale opportunity, but they eventually find themselves becoming a California foreclosure statistic.

If government modification programs and short sales are not the answer, than what is?

Home owners have an option to file for bankruptcy protection and save their home. When a person files Chapter 13 bankruptcy, the court will restructure all of their debts, including their mortgage, into an affordable monthly repayment plan. Once the petition for bankruptcy has been filed, the home owner is safe from eviction until the bankruptcy case has been determined. 

Once you are approved for a Chapter 13 bankruptcy, your home is protected from foreclosure, and you are safe from an eviction. You will need to make the payments to the court each month to remain in good standings. After the repayment period is over, you will assume regular payments on your mortgage again.

If you have a question regarding Bankruptcy in Sacramento please contact us at 1800.941.6730 and we can connect you with one of our experienced California Bankruptcy Attorneys . Sagaria Law can assist you with all aspects of your bankruptcy case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, lien stripping , a cram down, stopping a foreclosure or wage garnishment, asset protection, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist in all of these important areas. Please complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.

When it comes to dealing with home foreclosure, there are many ways you can prevent this process from happening. One thing everybody going through foreclosure should do is to consult the advice of an attorney that specializes in real estate and foreclosure laws. An attorney that is involved in real estate and foreclosure will be able to provide you with information on how the law works and how you can get you home out of foreclosure. By speaking with an attorney, you will be on the right path to preventing your home from going into foreclosure. 

When it comes to the home foreclosure process, the first thing you should do is contact your lender. You should check with your lender to see what exactly is needed to get your mortgage payments back current. You should try to work out the best deal possible, so you will not end back up in foreclosure. If you don’t have the amount the mortgage company is asking, try asking some family members or having a garage sale to raise the money. Whatever you do, you should try being creative because the ultimate goal is to save your home. Once you are able to save your home, you should try your best to remain in good standing with the mortgage company.

If you have a question regarding Bankruptcy in Sacramento please contact us at 1800.941.6730 and we can connect you with one of our experienced California Bankruptcy Attorneys . Sagaria Law can assist you with all aspects of your bankruptcy case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, lien stripping , a cram down, stopping a foreclosure or wage garnishment, asset protection, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist in all of these important areas. Please complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy

Whenever a home foreclosure is filed in Sacramento, there is a particular set of steps that will occur. The first step requires the lender to file a Notice of Default with the County Recorder. A notice of the filing is sent to the borrower, who then has the option to pay off the delinquent amount plus any foreclosure costs, in effect stopping the foreclosure.

Ninety days later, a Notice of Sale is posted on the property and in one public location near the home. This notice must be published in a local newspaper once each week for three weeks beginning at least twenty days before the final step—the Trustee Sale Auction. The notice must contain certain information, most specifically the date, time, and location of the sale along with the property address and contact information for the trustee. It must also be recorded with the County Recorder at least 14 days prior to the sale or the home foreclosure cannot proceed.

The final step is the Trustee Sale Auction, which is a public auction that is conducted by a representative of the lender. Whoever wins the auction must immediately pay the full amount of their bid in cash or with a cashier’s check. In return, he or she will then receive a trustee’s deed and become the legal owner of the property.

If you have a question regarding Bankruptcy in Sacramento please contact us at 1800.941.6730 and we can connect you with one of our experienced California Bankruptcy Attorneys . Sagaria Law can assist you with all aspects of your bankruptcy case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, lien stripping , a cram down, stopping a foreclosure or wage garnishment, asset protection, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist in all of these important areas. Please complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy