For many individuals and families, their home is their greatest asset. At Hallstrom, Klein & Ward LLP, we understand the emotional and financial value of your home, which is why we work diligently to help you explore all available foreclosure prevention options.

The good news is that filing bankruptcy will immediately stop a foreclosure proceeding. However, the creditor may be able to obtain permission from the bankruptcy court to lift this stay and then proceed with a foreclosure. To learn about your rights and ways to prevent foreclosure, contact a dedicated Orange County foreclosure defense lawyer today by calling 949- 450- 8500 or clicking here.



Bankruptcy  Lawyers - Orange County Foreclosure Defense
Serving Garden Grove, Rancho Santa Margarita, Irvine, Fountain Valley, Costa Mesa, Anaheim
Stop foreclosure
Keep your house and your car

You will not generally lose your house or vehicle when you file for bankruptcy as long as you continue to make your payments and maintain insurance on your home or vehicle. However, if you have a lot of equity in your home or an expensive vehicle, there is a possibility that a Chapter 7 bankruptcy trustee may want to liquidate the asset. This is rarely the case, and a seasoned Orange County bankruptcy lawyer can help you address such situation.

Our dedicated OC foreclosure prevention lawyers will help you assess all of your options to save your home. Many home owners have a 2nd mortgage lien that can often be completely eliminated through lien stripping, or, lien removal in Orange County. Other solutions include loan modification agreements, deed-in-lieu and a short sale. A comprehensive review will help you find the best solution for your situation.

Reaffirmation Agreement – You Don’t Have To Sign It



In a Chapter 7 bankruptcy, creditors often request debtors to sign a "reaffirmation agreement," which is basically a new contract re-affirming the old contract.  We generally prefer that our clients not execute a reaffirmation agreement.  In fact, it is illegal for your home lender to foreclose simply because you refuse to sign a reaffirmation agreement. Our bankruptcy lawyers can help you  protect your rights if this happens.

Additionally, if you do not sign a reaffirmation agreement and you later decide, for any or no reason, that you do not want to keep your vehicle after bankruptcy, you simply can turn in your car and you will have no personal liability for the loan, even if the car is worth much less than the loan balance. This is because your
personal liability for the loan was eliminated when your bankruptcy was discharged.

However, in certain situations it may be advisable to sign a
reaffirmation agreement. Each situation is different, which is why
you should discuss your case with an experienced bankruptcy
attorney. Set up your FREE consultation today by calling
949- 450- 8500.