California Foreclosure - What are the Banks Doing?
Besides a lot of things wrong the banks are doing very little to help homeowners avoid California foreclosure.
They were given millions or even billions of dollars to help stem the tide of foreclosures that were recognized from the very beginning. Money they used to pay their executives extravagant bonuses.
They were given directives from the US Government to modify loans to help people save their homes. While they did make a half-hearted effort their programs were never really set up of for success. They never bothered to staff up enough to handle the sheer volume of requests. This is cause for endless delays and lost documentation which pushes most homes to mature into the final phases foreclosure before the homeowner is given a final answer.
What happens next, the homeowner is denied a loan mod--which in many cases they never qualified for in the first place but the bank failed to inform them of this in a timely manner--and now they are left with little or no time to pursue another option.
Homeowners facing California foreclosure who are thinking about or in the midst of a loan modification should research bankruptcy as a back up plan. Should you end up being denied you can be fully prepared to step directly into the bankruptcy process and stop the foreclosure of your home.
If you have a question regarding Bankruptcy in California 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.
