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Posted On: March 30, 2011

Five Celebrity Bankruptcies

Bankruptcy happens to celebrities as well as common people. Singer and musician Billy Joel filed bankruptcy three times in his lifetime. The last filing occurred in 2009 due to mishandling by his manager who was also his ex-brother-in-law.

Donald Trump, billionaire and host of The Apprentice, has also declared bankruptcy three times in 1992, 2004, and 2009. Filing caused him to liquidate Trump Plaza Hotel, Trump's Atlantic City Hotel and Casino, and Trump Entertainment Resorts.

Ed McMahon filed in 2009 prior to his death due to delinquent mortgage payments. He co-hosted the Tonight Show With Johnny Carson from 1962 to 1992, hosted Star Search from 1983 to 1995, and co-hosted the Jerry Lewis MDA Telethon from 1973 to 2008.

Actor and musician Willie Aames incurred debts totaling over $350,000 which prompted him to file in 2008. He portrayed Tommy Bradford from 1977 to 1981 in Eight Is Enough and Buddy Lembeck in Charles In Charge with Scott Baio from 1984 to 1990. 

Actor Don Johnson filed in 2004 due to delinquent mortgage payments on his Colorado ranch. He portrayed Sonny Crockett in

If you have a question regarding Bankruptcy in San Jose please contact us at 1800.941.6730 and we can connect you with one of our experienced California Bankruptcy Attorneys . Sagaria Law can assist you with all aspects of your bankruptcy case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, lien stripping , a cram down, stopping a foreclosure or wage garnishment, asset protection, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist in all of these important areas. Please complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.

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Posted In: Bankruptcy News

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Posted On: March 28, 2011

What Laws Govern California Foreclosure

Here's the tricky part. If your mortgage lender's home base is located out of California, and you're on the verge of a foreclosure, the California Foreclosure laws may offer you a life preserver without you even knowing it. It's not common knowledge, unless you're an attorney, but the California Foreclosure law has two options that mortgage lenders must face and employ when seizing a home due to default. Judicial foreclosure or non-judicial foreclosure. These two options provide certain protection and rights for both the lender and homeowner that are little known, but often used.

Non-judicial is most commonly used when lenders do not reside in California. This option allows the lender(s) to seize a borrowers property without going through the entire California court system. They issue a Notice of Default, set a date and sell the home at auction. After the the non-judicial foreclosure, the first mortgage lender has no legal grounds to sue borrowers for any deficiency owed.

On the other hand, a lender using the California Foreclosure judicial option, and filing the proper paperwork with, and receiving court approvals, not only allows the lender to seize the home but legally pursue a deficiency against the borrower, as well.

If you have a question regarding Bankruptcy in San Jose please contact us at 1800.941.6730 and we can connect you with one of our experienced California Bankruptcy Attorneys . Sagaria Law can assist you with all aspects of your bankruptcy case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, lien stripping , a cram down, stopping a foreclosure or wage garnishment, asset protection, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist in all of these important areas. Please complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.

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Posted In: Foreclosure

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Posted On: March 26, 2011

How to Stop Home Foreclosure

If you have fallen behind on mortgage payments and face foreclosure, you probably want to avoid home foreclosure and keep the home that is rightfully yours. Home foreclosure can be a stressful process, so it can be extremely beneficial to avoid it altogether. There are many different ways to go about keeping your home. With the right knowledge you can fight to stop foreclosure.

One way to avoid foreclosure is with the help of a bankruptcy attorney. Bankruptcy can be a way for you to have your debts forgiven. There are different types of bankruptcy and each have different rules and regulations. If you are behind on mortgage payments, you may also be able to escape home foreclosure with bankruptcy. It is important to research bankruptcy and acquire the assistance of a bankruptcy attorney to fully understand the process. While there are no guarantees, you may be able to keep your home with the help of bankruptcy.

If you have a question regarding Bankruptcy in San Jose please contact us at 1800.941.6730 and we can connect you with one of our experienced California Bankruptcy Attorneys . Sagaria Law can assist you with all aspects of your bankruptcy case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, lien stripping , a cram down, stopping a foreclosure or wage garnishment, asset protection, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist in all of these important areas. Please complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.

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Posted In: Foreclosure

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Posted On: March 25, 2011

What Is the Process For Home Foreclosure In San Jose?

The home foreclosure process in San Jose normally begins after the third monthly mortgage payment is missed. Three months is not a mandatory guideline, but is the most commonly used. Mortgage lenders will begin the foreclosure process at this point because it is extremely difficult and highly unlikely that the homeowner would be able to get caught up.

In San Jose, foreclosure proceedings commence according to California state law while protecting the rights of the homeowner and lender. The foreclosure process can take months, and often gives the homeowner enough time to find a workable solution. The first step is for the lender to file a Notice of Default with the county of Santa Clara. That is essentially a public statement that the home is in default, and the lender is preparing to foreclose.

Papers then need to be filed with the court regarding the sale of the home. A home secured by a Deed of Trust has written provisions allowing a trustee to sell the home by auction, but when secured by a mortgage document the lender must file a judgment in court.

The filings required for a trustee sale can take over 120 days while a judicial home foreclosure gives the homeowner 365 days to pay or renegotiate the loan.

If you have a question regarding Bankruptcy in San Jose please contact us at 1800.941.6730 and we can connect you with one of our experienced California Bankruptcy Attorneys . Sagaria Law can assist you with all aspects of your bankruptcy case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, lien stripping , a cram down, stopping a foreclosure or wage garnishment, asset protection, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist in all of these important areas. Please complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.

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Posted In: Foreclosure

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