What is Foreclosure?
Foreclosure Attorney in Los Angeles, California
Most western states have a “non-judicial” foreclosure system in which a foreclosure trustee sends a series of legal notices to the homeowner, and then subsequently forecloses on the property, without any court intervention. Once the non-judicial foreclosure sale takes place, it terminates most legal rights the homeowner has in the property, and the property is transferred either back to the lender, or to a 3rd party purchaser. Foreclosure becomes likely when a homeowner falls behind on their mortgage payments, the more payments they are behind, the more likely a foreclosure will take place.
What Causes Foreclosure?
Lenders, and in many cases the mainstream media, would like you to believe foreclosure is caused by “irresponsible” homeowners. This is simply NOT true. Many circumstances beyond the homeowners’ control typically contribute to a homeowner falling behind on mortgage payments, these factors often include:
- Loss of Job or Income
- Illness/ Medical Challenges
- Adjustment in Loan Terms
Your Foreclosure Lawyers, We Can Help!
If you are facing foreclosure, you are not alone. Over 4.8 Million homes are in foreclosure at any given time in America today, and help is available. With proper legal counsel, many homeowners are able to avoid foreclosure or workout a favorable arrangement with their lender. The foreclosure attorneys at McFarlin LLP are ready to assist you. We have the experience and knowledge necessary to save your home and a proven track record of happy clients and success stories. McFarlin LLP offers free foreclosure consultations to prospective clients, so contact us today (888) 728 0044, or email us.
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