The steady decline of real estate values combined with the financial crisis in world credit markets means that a significant number of homeowners and commercial property owners have no positive equity and no practical access to refinancing solutions. Mortgage or security deed foreclosure presents a serious threat for many of these owners.
If you need fresh perspectives about your options in the face of foreclosure of your home or business premises, contact an experienced real estate attorney at Heritage Law, LLP. We work with homeowners, business owners, lenders, junior lienholders and real estate professionals. Our goal is to help you find ways to avoid foreclosure and lasting damage to your credit.
The broad range of our law firm’s experience in real estate, mortgage lending, commercial law and alternative dispute resolution can help us expand the options for a favorable resolution to your mortgage or foreclosure problem. These might include:
- Short sale with modification of the deed of trust and note
- Negotiated payment plans with mortgage lenders and holders of junior or subordinated interests
- Extension of maturity periods of a note and deed of trust with corresponding reductions in monthly payments
- Addition of new collateral to cover equity shortfalls
- Forbearance agreements that suspend foreclosure or collection activities for a limited period
- Renegotiated adjustable rate terms
Our experience with troubled loans and workouts can also help our clients avoid problems related to deficiency judgments, tax liability for debt forgiveness, and damaged credit. For additional information about our ability to help our clients find useful solutions to difficult mortgage problems, contact a lawyer at Heritage Law, LLP in the Orange County area.