Real Estate Attorney in Irvine CA

Tracey Briles relies on her 19-plus years as a licensed California attorney and real estate broker to assist you with all of your real estate needs. When you work with Briles Law Group, in Irvine, you have the security of knowing you are represented by an attorney with extensive knowledge and experience regarding California mortgage law, foreclosures and property disputes. Relying on real estate agents or loan modification/foreclosure companies may not fully protect your rights or provide you with all possible legal options and may lead to unfavorable results.

If your home loan is currently in default and you are facing a possible foreclosure, there are options available to you including a short sale, deed in lieu of foreclosure or a possible loan modification. Each case is unique and is individually evaluated to determine all available options and the best course of action for you.

Short Sale: An Option For Avoiding Foreclosure Or Bankruptcy

If you owe more on your home than it is currently worth and are looking to simply get out from under the burden of your loan, a short sale may be a viable option for you. However, this is a decision with various ramifications and should only be considered after thoroughly discussing your particular situation with an attorney. A short sale in California involves selling your home to a buyer for less than the amount you owe on your loan. All of the proceeds from the sale go directly to the lender, but fully satisfies your debt. A short sale enables you to avoid having a foreclosure or bankruptcy on your credit report.

Deed In Lieu Of Foreclosure In California

A deed in lieu of foreclosure may be a practical option for you. During this process, you surrender all claims of ownership in your home and simply turn the deed over to the mortgage holder. For this option to be available, the lender must be willing to accept the deed back and hold you harmless as to any remaining debt owed. Again, since this is a very involved process, it is best to have an attorney review the transaction to ensure that your interests are being protected before you move forward.

Loan Modification

A voluntary loan modification is extremely difficult to obtain from your lender. In fact, less than 10 percent of modification requests are approved. However, having an attorney represent you in the process increases your chances of success significantly. An attorney can help you identify any negotiating leverage you may have by finding violations of law in your original loan documents or capitalizing on applicable provision in the Bankruptcy Code. The possibility of litigation or bankruptcy may cause your lender to be more willing to work with you on a modification.

The loan modification process is extremely complex and can seem overwhelming if you try and do it yourself. It is very easy for the lender or servicing agent to take advantage of you. For that reason, it is imperative that you have an experienced, knowledgeable attorney to protect your rights. Once you hire an attorney, lenders are required to involve your attorney in the modification process.

We invite you to contact our office to discuss your unique situation with an experienced lawyer. Give us a call or complete the online form.