Foreclosure expertise through precision, legal acumen, and client commitment
Foreclosure Attorney In Beverly Hills
Lavaee Law Group has a diverse real estate practice. Our team has counseled clients on foreclosure matters with respect to legal implications, strategies for avoiding foreclosure and brought wrongful foreclosure actions against major banks to see that our clients’ properties are returned.
Perhaps the most important single factor in determining the outcome of a foreclosure proceeding is the stage at which an attorney is consulted. The attorney representing a client after the client has allegedly defaulted under a real property security agreement must analyze the client’s position. All documents recorded or otherwise, must be thoroughly examined. It is essential that the attorney not only be consulted early in the proceedings, but also be able to obtain the client’s version of the facts, and if possible the creditor’s version as well. Actions such as filling a complaint or seeking an injunction may be fruitful alternatives and strategies to postponing foreclosure proceedings and will sway a creditor’s course of action.
Real Estate Acquisition Attorney Beverly Hills
A deed in lieu of foreclosure is a deed executed by a borrower and given to the lender in order to avoid having the lender foreclose. Once accepted, the borrower is immediately released from most, if not all, of the personal indebtedness associated with the defaulted loan.
The debtor avoids having a notice of default filed against him or her and saves the time associated with a foreclosure, whether it is by trustee sale or judicial decree. The debtor may also escape liability for any deficiencies resulting from a judicial foreclosure.
When the parties agree to execute a deed in lieu of foreclosure, the transfer may be made by grant or quitclaim deed and may be done at any stage of the proceedings prior to the actual foreclosure sale.
If you have been unable to make your monthly mortgage payments and have also been unsuccessful trying to sell your home at its market value, this form of foreclosure may be what is necessary to get you back on track.
This procedure allows you to transfer your property voluntarily to your lender or mortgage company and often allows your debt or deficiency to be forgiven. This will not save your home, but it will help you with your chances of getting another mortgage loan in the future and it will help you avoid the lengthy legal process of a foreclosure. Although it is a negative strike on your credit rating, it is less harmful than a foreclosure.
To get started with a free and confidential consultation, please contact our office at 310-331-8484 or via email email@example.com to speak with a deed in lieu of foreclosure attorney in Beverly Hills.
Forbearance Agreements Attorney In Beverly Hills
Depending on your exact situation, your lender may be required to offer you a solution to repay your missed payments and avoid foreclosure with a mortgage forbearance agreement. These special repayment plans are called “special mortgage forbearance agreements” and we can request this type of payment plan from your lenders loss mitigation department or the mortgage forbearance agreement department. A mortgage forbearance agreement will allow a client to reinstate their loan by creating a written repayment plan between a lender and the client.
Lavaee Law Group has not only negotiated Forbearance Agreements with banks, but routinely drafts Forbearance Agreements for its clients. As such, we can identify and circumvent any potential pitfalls for our clients.
To get started with a free and confidential consultation, please contact our office at 310-331-8484 or via email firstname.lastname@example.org to speak with an attorney regarding whether a forbearance agreement is right for you.
Cash For Keys Attorney In Beverly Hills
Once the foreclosure process is complete, a lender may offer you a “cash for keys” option. This option is a money payment given by a lender to the foreclosed homeowner in exchange for walking away from their home peacefully. This option should only be considered once all other options to save your home have been exhausted. Some lenders may volunteer such an offer, however, typically a lender will attempt to decrease the costs associated with a foreclosure and thus, only reluctantly pay a fee to the homeowner who has already been foreclosed. We can use the relationships we have established with various lenders to persuade them to offer you this option.
Short Sale Attorney In Beverly Hills
A short sale is a sale of real estate in which the proceeds from the sale fall short of the balance owed on a loan secured by the property sold.
In a short sale, the bank agrees to accept an amount less than the full balance of the loan in consideration of a borrower’s economic or financial hardship. This process is accomplished by negotiating with the bank to discount the loan balance, finding a willing buyer to purchase the property, and obtaining the bank’s approval for the proposed sale. The home owner/debtor sells the mortgaged property for less than the outstanding balance of the loan, and turns over the proceeds of the sale to the lender, sometimes (but not always) in full satisfaction of the debt. Currently, many major banks are requiring homeowners, as a condition of the short sale, to sign promissory notes for any deficiencies, thus circumventing the purpose of a Short Sale.
Often a bank will allow a short sale if they believe that it will result in a smaller financial loss than foreclosing as there are carrying costs that are associated with a foreclosure. The advantages for the home owner include avoidance of a foreclosure on their credit history and partial control of the monetary deficiency. A short sale is typically faster and less expensive than a foreclosure.
To get started with your Short Sale and for a free and confidential consultation, please contact our office at 310-331-8484 or via email email@example.com to speak with a Short Sale attorney in Beverly Hills.