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 payments. Call (949) 570-5025 for a free evaluation.

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
• Divorce
• 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.