Los Angeles, CA - A Foreclosure involves a civil lawsuit in which a bank, Mortgage Company or other lien holder engage in a civil lawsuit asking the court to issue an order to sell your property by way of auction in order to satisfy a defaulted debt or mortgage payment. The result of this foreclosure is the loss of not just the property but any rights in that property as the mortgage holder gains total ownership of the property.How to stop a foreclosure
Though unknown by many, it is possible to stop a foreclosure sale even if there is a default in mortgage payment. Below are the ways to stop foreclosure:
Filing for Bankruptcy
Filing for Chapter 7 or Chapter 13 bankruptcy stops the foreclosure sale date immediately [at the time of the first filing].
The time while the bankruptcy is pending can be used as time to negotiate with the bank for modification of the loan terms.
Filing a Lawsuit
Filing a lawsuit for illegal foreclosure can also stop the foreclosure sale date. The lawsuit must have valid grounds, such as violation of the California foreclosure laws [SB900] or breach of contract, negligence, or misrepresentation.
Loan Modification
There is no need to hire a [url=http://consumeractionlawgroup.com/who-to-hire-to-stop-home-foreclosure/]foreclosure lawyer[/url] for the purpose of modifying your loan in an effort to stop a foreclosure sale. The decision to modify a loan is based on the income and the arrears of the borrower. It is in the best interest of the borrower to work directly lender in order to apply and submit financial documents needed to get the loan modified.
Deed-in-lieu of foreclosure
A deed-in-lieu once completely releases the borrower from the debt and can reduce the time and cost of repossessing the property through a trustee sale.
Short sale
It is noteworthy to mention here that hiring a good foreclosure lawyer is the most important step to [url=http://consumeractionlawgroup.com/who-to-hire-to-stop-home-foreclosure/]stop foreclosure sale[/url] . Once a foreclosure sale notice is received, the next step is very important. It is best to contact a foreclosure lawyer who will provide the best plan and method to stop the foreclosure sale and save the home from foreclosure.
Anyone who wants to hire a [url=http://consumeractionlawgroup.com/who-to-hire-to-stop-home-foreclosure/]foreclosure attorney[/url] to stop foreclosure sale can contact Consumer Action Law Group. They can be reached at (818) 254-8413 or visit their website, [url=http://ConsumerActionLawGroup.com]http://ConsumerActionLawGroup.com[/url]
About Consumer Law Action Group
Consumer Law Action Group is a law firm with offices in Los Angeles, dealing with consumer issues such as wrongful foreclosure, auto dealer fraud, and employer violations. The attorneys within Consumer Law Action Group focus on lender litigation, bankruptcy, and lawsuits against car dealers, as well as claims against employers who violate labor laws.
For Media Inquiries:
Contact Person: Lauren Rode, Esq.
Telephone: (818) 254-8413
Email: Lauren@consumeractionlawgroup.com
Website: [url=http://consumeractionlawgroup.com]http://consumeractionlawgroup.com[/url]