Foreclosure Defense Lawyers in Irvine
Advocating for Homeowners Since 2011
Owning a home has always been a part of the American Dream. Unfortunately
for many homeowners, an unexpected financial crisis can jeopardize this
dream. No one can accurately predict a sudden economic downturn or a drop
in housing prices, and some borrowers may find themselves facing the threat
of foreclosure. At
McFarlin LLP, our experienced and compassionate foreclosure defense attorneys don't
believe you should meet this threat alone.
If you’re facing foreclosure in Irvine, you still have options. Our
legal team has helped many homeowners stay in their homes with affordable
(949) 570-5025 for a
Understanding Foreclosure & Its Causes
California, like most western states, has a “non-judicial”
foreclosure system, in which a trustee sends a series of legal notices
to the homeowner and, eventually, seizes the property without any court
intervention. Once the non-judicial sale takes place, it terminates most
legal rights the homeowner has in the property, and the property is transferred
either to the lender or a third-party purchaser. The more behind the homeowner
is on payments, the more likely their home may be taken.
Lenders and, in many cases, the mainstream media, would like you to believe
that “irresponsible” homeowners inevitably lose their homes.
This is simply not true. Many circumstances beyond a homeowner’s
control can cause them to fall behind on mortgage payments.
These factors can include:
- Loss of job or income
- Illness/medical challenges
- Adjustment in loan terms
- Death of a loved one
The Foreclosure Process
If you are unable to make a house payment, your lender will issue a “Notice
of Default.” You will then have a grace period in which to pay the
lender the amount owed or sell the property for less than its value. This
is called a “short sale.”
If you and your lender can’t work out an agreement, the house will
be sold to the highest bidder at auction. If the property doesn’t
sell, you will be evicted, and your lender will assume ownership. This
is what we can help you avoid.
How Long Is a Mortgage Holder’s Statute of Limitations in California?
A mortgage lender hasfour (4) years to file a foreclosure lawsuit against you, should you fail to make your
mortgage payments on time. The four years of allotted time begins whenever
you miss a mortgage payment, however, so does the window of opportunity
for a lender to file against you can actually be much larger than it seems.
Serving Orange County & Southern California
The amount of time foreclosure takes can vary greatly. In any case, foreclosure
is a complex and often unpredictable process, and guidance from skilled
attorneys can greatly improve your likelihood of keeping your home.