Santa Barbara and Ventura Chapter 13 Bankruptcy Attorney
If you are struggling financially, whether as a result of an unexpected injury or illness, a divorce or the loss of a job, you may fear the loss of your home through foreclosure. Whether you have received notice that foreclosure proceedings have been initiated or are merely behind in your payments, you have options to suspend or stop foreclosure efforts by your lender. You want an experienced lawyer to help you evaluate your options, someone who has successfully worked with others in your situation.
At the law office of Dennis J. Shea, I bring more than 25 years of legal experience in real estate law and bankruptcy to individuals facing the problem of home foreclosure. For the last 17 years, I have worked as a sole practitioner, dedicating myself to providing a high level of personal attention to every client. When you hire me, you will work directly with me throughout the process. My goal is to provide comprehensive counsel regarding all your options so that you can make informed decisions.
I offer a free phone consultation. To set up an appointment with an experienced Santa Barbara foreclosure attorney, contact my office by e-mail or call me at 805-284-9703.
Exploring Options to Avoid Foreclosure
I work closely with homeowners who are in arrears on a mortgage to consider the options, including:
- A lender solution — The bank may be willing to restructure your loan, such as lowering payments by extending the term of the mortgage. In many cases, lenders will go forward with the foreclosure process while processing your request for a loan workout. Banks are swamped with such requests, and you could lose the race against the clock. Loan modifications through third parties are especially dicey; there are many disreputable agencies that demand a fee up front but in the end cannot deliver on the promise.
- A court reprieve — It may be possible to get a Superior Court injunction to halt foreclosure. This will buy time to work out a solution with the lender. Despite headlines about overwhelmed loan officers rubber-stamping foreclosures, it is very difficult to stop or overturn a foreclosure based on sloppy documentation. However, I have had success with defaulted mortgages originated under fraudulent pretenses or undue influence, such as an elderly person facing home foreclosure because a child borrowed money against the property.
- Filing for personal bankruptcy — Bankruptcy is the only sure way to stop foreclosure. Filing for Chapter 13 temporarily suspends foreclosure proceedings and all creditor actions, even if the sheriff's sale is imminent. Chapter 13 bankruptcy allows you to pay the arrears over time if you keep up with the current house payments. If you are not yet behind on the mortgage but are swimming in credit card debt or medical bills, a Chapter 7 bankruptcy discharges those debts and frees up money to keep your house.
- Short sale or deed in lieu of foreclosure — As a last resort, if you cannot afford to keep your home even through bankruptcy, I may be able to negotiate an arrangement with your lender that avoids the black mark of foreclosure and lets you walk away from your defaulted mortgage owing much less to the bank.
Contact My Office
To arrange a free phone consultation, contact my office online or call me at 805-284-9703 for an appointment. I am available for evening or weekend meetings upon request. I am conveniently located in the heart of downtown Santa Barbara, California.
Se habla español. Llame mi oficina para obtenir ayuda de abagado en conneccion con bancarrota o foreclosure.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
