Avoid Foreclosure

Loan modifications were and continue to be pushed by many people in the mortgage industry and even by many attorneys who thought that they could get positive results for their clients. However, we now see that despite all the hype about loan modification of home mortgages, a very small fraction of these modification applications were approved. This leaves so many people with mortgage payments that are behind for more than ten months even!

Homeowners are now finding themselves begging their mortgage companies to continuously extend the foreclosure sale dates every single month. The auction of your primary residence is not a joke. It is not easy losing sleep every single night, worrying whether you will have your roof over your head next month or not. If you are one of the hard working individuals who first fell victim to seriously declining property values of your primary residence, followed by desperate and honest attempts to modify your mortgage loan, but to no avail, then remember that yet again you are not alone. This may be time when you may need an attorney to fully examine your financial situation, and to see if and how a bankruptcy can help to save your home and other assets.

In the 9th Circuit, which includes California, the courts do allow a second mortgage to be completely stripped if the fair market value of your property is proven to be less than the balance on your first mortgage. This is a complicated process and it is crucial that you have a competent attorney representing you in these proceedings.

At Hashemi Law Corporation, we submit these motions for the removal of a second mortgage and request the court to suspend all monthly payments for the second mortgage until the final discharge of your Chapter 13 Plan.