Sacramento, California, Foreclosure Defense AttorneyIf you have received word from your mortgage lender that you are facing foreclosure, there are steps you can take to stop the legal proceeding. I am debt relief attorney Mikalah Liviakis of the Liviakis Law Firm with offices in Rancho Cordova and Sacramento. Your first action to take after receiving a foreclosure warning is to call an experienced debt relief attorney.
As the holder of the mortgage, you have more rights than you might realize. A mortgage is not like a secured car loan or boat loan. Losing your home to foreclosure is not the same as having your bank send a repo man to take back your car if you miss a single payment. State and federal law protects homeowners to a greater extent. Banks and mortgage lenders are under specific regulations relating to the legal process required.
No matter how late in the foreclosure process your bank has progressed, you can stop the foreclosure sale by filing bankruptcy under Chapter 7 or Chapter 13 of the U.S. Bankruptcy Code. The day you file, an automatic stay of execution is placed against all collections actions, pending the outcome of the court’s ruling in your case. In some cases, you may not even need to file bankruptcy. There are mortgage modification measures available that can help you prevent foreclosure.
Eliminate or Reorganize Your Debt — Keep Your HouseUnder special conditions of the Chapter 7 and Chapter 13 bankruptcy rules, individuals and families filing for bankruptcy may reaffirm their intent to continue paying their monthly mortgage payment, while eliminating or reducing other consumer debt, such as credit cards, in a Chapter 7 or Chapter 13 filing. In most cases, the reduced payments to creditors every month make it possible to meet your monthly mortgage payment. Building equity in your home is still the best way to build a successful financial future.
Why the Liviakis Law Firm Is DifferentIn the past several years, a significant number of law firms serving the Sacramento and Rancho Cordova metro region have started handling bankruptcy cases. For many people, bankruptcy is a good way to start over from debt. Starting over isn’t enough. I restrict my bankruptcy practice to individuals and families who need to eliminate or restructure their debt because they are serious about building a new financial future, free from debt. That means finding creative, intelligent solutions to bankruptcy problems that other law firms simply don’t have the capacity or experience to handle. That is why I also offer a full range of estate planning services, to help my clients protect their financial futures.
With offices conveniently located in Rancho Cordova and Sacramento, I represent clients in communities throughout Sacramento County, El Dorado County and Placer County, California. My offices are open 9 a.m. to 5 p.m. Monday through Friday and include free parking.
Contact an office near you for a free initial phone consultation with an experienced, knowledgeable attorney who is ready to help you stop foreclosure and build wealth. The bankruptcy lawyer you hire will make a difference in the outcome of your case and the outlook for your financial future.