Posted On: April 2, 2011

Short Sale and California Foreclosure - It Doesn't Work

Home owners that are considering a short sale as a way to avoid foreclosure should consider a few dismal statistics. First, a short sale must be approved by your lender and can take several months to process. In the mean time your home can become another California foreclosure statistic. Second, you must have a buyer to sell your home in a short sale and you must make the mortgage payments during the sale period. Most people believe that once you offer your home on a short sale you are no longer obligated to pay. And finally, you will have to move from your home, without the benefit of any money made from the sale of your home. It is very similar to an eviction.

If you are facing a California foreclosure, you have another option to save your home. You can file for bankruptcy protection under a Chapter 13 petition. Just like a corporation that files bankruptcy to restructure its debt, an individual is offered the same protection under Chapter 13.

When you file bankruptcy you will not face eviction or foreclosure. You will have the full protection of the law while the court restructures your mortgage and other debt. You will emerge from the proceeding with the ability to keep your home when you agree to the court mandated repayment plan.

You will not have to apply for a loan modification and risk being denied. You will not have to sell your property short and be left in the street without a home. You will no longer receive harassing calls or letters. You will, in fact, be a new person with their debts under control and a home to live in.

If you have a question regarding Bankruptcy in Sacramento please contact us at and we can connect you with one of our experienced California Bankruptcy Attorneys . Bankruptcy Law Firm 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.

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