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Posted On: May 25, 2010 by Scott Sagaria

California Foreclosure and Bankruptcy Law

A San Jose bankruptcy attorney elaborates on California Foreclosure and Bankruptcy Law

One of life’s greatest fears is being homeless. California foreclosure is at an all time high at the present moment. In California, a person purchasing a home will normally borrow money from a bank or financial institution to do so. When this occurs, the lender will secure its loan by placing a lien on the house. While the loan is outstanding the lien remains on the house and the house cannot be sold without first satisfying that lien. When a borrower neglects to make their monthly payments on the loan, the lender can foreclose. In California foreclosure can be done in one of two ways. The most common California foreclosure is a judicial foreclosure. The lender files a lawsuit in civil court and asks that the judge issue an order evicting the tenants and transferring title back to the lender.

A California foreclosure proceeding can be slowed by a borrower by filing for either a Chapter 7, Chapter 11, or Chapter 13 bankruptcy. Once the debtor files for bankruptcy in California foreclosure is stopped and the debtor has a few more months to attempt to work something out with the lender. A lender can attempt to proceed with its California foreclosure by filing a Motion for Relief from Stay. If granted in California foreclosure may resume from the point at which it left off prior to the filing for bankruptcy. Therefore, filing for bankruptcy is one way an individual can stop a California foreclosure.

If you have questions regarding Bankruptcy in San Jose please contact us at 408.279.2288 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our downtown San Jose bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Jose and the South Bay!

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