Mortgages and Foreclosures Still on Unstable Footing

San Diego Foreclosure Attorney

There has been a lot of buzz about the new California Homeowner Bill of Rights, which took effect on January 1, 2013. While this is an admirable bill, and addresses many abuses in the system, the bottom line is that it probably isn’t going to help you prevent the average foreclosure, although it can slow down the process. That’s because it is designed to deal with shady practices in the mortgage industry, and not people who are dealing with an inability to make their payments. It’s great that measures have been taken to prevent “robo-signing,” or foreclosing people in the processes of loan modification, as well as requiring proper notifications. But this legislation isn’t intended to help people who are simply falling behind in their payments due to tough economic times. What’s more, this bill doesn’t even apply to second mortgages, and many people who are struggling have a second lien on their property.

If you’re looking for help from government programs in dealing with your San Diego foreclosure woes, you probably aren’t going to find it. While the government has instituted several plans that were aimed at slowing foreclosures and getting homeowners back on sound financial footing, the reality is that these programs just haven’t panned out as everyone had hoped. Unlike a Chapter 13 bankruptcy filing, which can stop a foreclosure, independent research has shown that these government programs have done little to help ordinary homeowners who have fallen behind in the payments.  They have also been detrimental to new borrowers who have been attempting to get credit for home purchasing.

If you are looking to save your house, you are far better off consulting with a San Diego bankruptcy attorney, who can offer you real solutions, not just empty promises. While these government programs are well intentioned, chances are that you need help RIGHT NOW. Don’t risk losing your home to the foreclosure process, when Chapter 13 debt relief can restructure your payments into a plan you can afford. Our lawyers at Thompson | Wedeking have been helping the people of San Diego with their mortgage and other credit woes for nearly 40 years, and will be happy to provide a FREE consultation on your personal situation. Don’t entrust your home ownership to uncertain government programs when bankruptcy can help you keep your most important investment! Call 888.530.1773 TODAY or visit one of our websites at San Diego Bankruptcy Lawyers or Orange County Bankruptcy Lawyers or Riverside Bankruptcy Lawyers to see what a qualified bankruptcy can do for you! Whether it’s a Chapter 7 or Chapter 13 filing, we will work to find the best solution for you. Download our free book: The California Guide to Bankruptcy to see what bankruptcy can do for YOU!

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