Stopping Foreclosure in Orange County

Economic pressures from company downsizings and closures, demotions and salary restructuring have played havoc with the personal finances of many people throughout Orange County and surrounding areas. When a person is already struggling to make ends meet, the threat of foreclosure looming in the future can result in paralyzing pressure. But this is not the time to wait or do nothing. There are strict deadlines and time is short. If you have fallen behind in your payments or need to stop a foreclosure action talk to a savvy bankruptcy lawyer about the various remedies which are available to you.

Are you facing foreclosure?

Your lender usually doesn't want to foreclose on your home. If offered a realistic alternative usually a lender is willing to work with the home owner to resolve the situation. There are a number of options such as: refinancing your mortgage, arranging a short term plan to repay the amount in arrears, selling your home, short sale, Chapter 7 bankruptcy, Chapter 13 bankruptcy, suspending payments for a finite period, or another workable solution. A lawyer from the firm can advise you and work with you and your lender to arrive at an acceptable solution. Lenders are often more willing to listen to proposals coming from legal counsel than directly from the debtor.

In cases where for whatever reason a lender proves unwilling to work out a solution, bankruptcy can afford you the opportunity to have a solution forced on your lender by the court. Once a bankruptcy Chapter 7 or Chapter 13 filing has been made with the court an automatic stay on all collection actions and foreclosure goes into effect. A skilled lawyer with the firm can advise you on what the court is likely to adopt as an acceptable solution which would allow you to keep your home. Call an Orange County bankruptcy lawyer from the Law Offices of Joseph M. Tosti right away to discuss your situation.