Orange County Chapter 13 Attorney – Anaheim Chapter 13 Attorney – Santa Ana Chapter 13 Lawyer
With the housing market getting worse by the day, with little to no relief in sight, people all-over Orange County are under-water or upside down on their homes. In some areas of Southern California people have made the decision to “walk-away” from their homes without ever thinking about how to SAVE their home. You have spent a lot of money on your home, don’t give up so easily. As Orange County foreclosure lawyers we want you to read the following.
DON’T WAIT
CALL NOW FOR FINANCIAL FREEDOM AND A FRESH START.
At The Law Office Of Harold D. Thompson Our Experienced Orange County Foreclosure Lawyers Can File Your Chapter 7 Or Chapter 13 Debt Relief Plan. Call Our Office Today At 888.665.8330 Or Email Us For A Free Case Evaluation.
Given that a great number of homeowners in Orange County and Southern California purchased their homes with 80/20 loans (meaning that 100% of the home is financed) wouldn’t your financial future fee more secure if you didn’t have that second mortgage? What if I told you that our Orange County foreclosure lawyers could possible wipe out $40,000.00, $80,000.00 or $150,000.00 of what you owe on your home. Also, what if the housing market turns around think about the equity you will be able to have in your home!
The state of the bankruptcy law says that our Orange County foreclosure lawyers can help you do this. This is truly one of the most underused aspects of the Chapter 13 bankruptcy. The current state of the bankruptcy code allows a bankruptcy judge in a Chapter 13 to completely remove the second mortgage on a home if that second mortgage has become completely unsecured. Let’s take a look at an Orange County example:
Home Value $300,000.00
1st Mortgage $300,000.00
2nd Mortgage $150,000.00
Now, your lenders only security is the value of the property which is $300,000 but the 1st Mortgage is $300,000. The 1st is totally secured but the value of the home. Since the value is taken by the 1st there is ZERO security for the 2nd. The mortgage is stripped! You just wiped out a $150,000 Orange County debt.
Let’s look at a second Orange County example:
Home Value $300,000.00
1st Mortgage $295,000.00
2nd Mortgage $150,000.00
You might asking yourself what’s the difference. The difference know is that the 2nd is not TOTALLY unsecured. There is $5000 left to secure the note. No stripping. This is why it is vital that you hire experienced Orange County foreclosure attorney that knows how to value property to maximize your Chapter 13 debt relief.
As Orange County Bankruptcy Lawyers helping people with Chapter 7 & Chapter 13 debt relief we are proud to serve the following areas: Aliso Viejo, Anaheim, Brea, Buena Park, Costa Mesa, Cypress, Dana Point, Fountain Valley, Fullerton, Garden Grove, Huntington Beach, Irvine, La Habra, La Palma, Laguna Beach, Laguna Hills, Laguna Niguel, Laguna Woods, Lake Forest, Los Alamitos, Mission Viejo, Newport Beach, Orange, Placentia, Rancho Santa Margarita, San Clemente, San Juan Capistrano, Santa Ana, Seal Beach, Stanton, Tustin, Villa Park, Westminster, Yorba Linda
If you need further information please visit our other websites at San Diego Bankruptcy Lawyers or San Diego Mold Lawyer Blog or My San Diego Bankruptcy.