California Debt Relief Lawyers
Attorneys practicing in Debt Relief Debt Relief Case Evaluation Contact the law offices of New Horizon & Associates LLP
Debt Relief Practice Areas
Foreclosure Defense
Short Sale Deed in Lieu
Loan Modification
Bankruptcy
Chapter 13
Chapter 7
Loan Audits
Foreclosure Loans

Short Sale / Deed in Lieu of Foreclosure

Foreclosure Defense Lawyer Serving Ventura, Los Angeles and San Bernardino

In the face of foreclosure, a homeowner will need to weigh a number of different options in regard to whether he or she can keep the home. In some cases it will simply make sense to unburden oneself of the property, and a short sale or deed in lieu of foreclosure may be options to consider. These will offer you the benefit of avoiding foreclosure and the negative consequences this may have on your credit report, while still allowing you the opportunity of not keeping the property.

At the Law Offices of John Ribarich, we are experienced professionals here to help you with resolve this difficult situation. In talking to an attorney at our firm regarding your particular financial situation, we can offer you the information and guidance you need to make your own decision about whether to keep your home. To learn more, contact us at 877-306-6343 and talk to a lawyer about your options. We assist homeowners throughout Ventura, San Bernardino and Los Angeles and will be ready to see how we can help you.

Short Sale

What is a short sale? A short sale occurs when a homeowner facing foreclosure sells the property for a reduced price. If the bank approves this arrangement, a property owner may be able to sell his or her property for less than he or she owes but still fulfill his or her mortgage obligation.

Deed in Lieu of Foreclosure

What is a deed in lieu of foreclosure? When a San Bernardino, Los Angeles or Ventura homeowner is facing foreclosure and simply cannot keep the property, he or she may wish to consider another way of giving the property back to the bank. In essence, a deed in lieu of foreclosure occurs when the homeowner gives up ownership of the property to the mortgage holder.

If you are a Ventura, San Bernardino or Los Angeles homeowner who is facing foreclosure, and you want to learn more about your options, contact a foreclosure defense attorney at our law firm today.





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Address: 15223 Burbank Blvd.    Sherman Oaks, CA 91411    Phone: (877) 306-6343

Further Disclaimer: By now, you may have made your own attempts at loan modification. You now know what we have known: Despite all the government and media hype, the voluntary loan modifications are not the silver bullet to the foreclosure crisis. Even after President Obama introduced the HAMP program, only about 8% of the anticipated 9 million loan modification applications have been considered. Never forget that lenders and loan servicers are in the business of making money for their shareholders, not solving people’s financial problems. Despite the incentives created by the government, loan servicers remain inconsistent, negligent, understaffed, arrogant and just plain indifferent to the financial plight of most folks. If you’ve ever wondered why the bank doesn’t seem to care? Consider that it is the investor, not loan servicer, takes the financial hit when a property is foreclosed. Loan servicers make more money when a borrower falls into foreclosure. Servicers have an incentive to drag out the foreclosure and loan modification process. Despite what the government and the lenders may say, the loan modification or short sale process is not as quick and easy as has been portrayed.

VIOLATIONS CAN GIVE YOU LEVERAGE to secure a “SETTLEMENT”, not a LOAN MODIFICATION.

Whether hiring a lawyer will increase your chances for success a little or a lot depends on whether the lender has done something wrong. This is why Attorney Ribarich encourages every client to commission an audit of the original loan documents, review the appraisal and take measure of any agency relationships between the broker, the lender, the appraiser, the escrow and the title companies. Anecdotally, Attorney Ribarich believes that your chances of success increase fourfold if there is litigation or bankruptcy. Hiring a lawyer to review your options and handle the process makes sense. Your chances of obtaining a substantial loan modification will be greatly improved if the lender has violated the law…but how will you ever know? A lawyer can help you gain negotiating leverage on your behalf by finding violations of the law or capitalizing on provisions of the bankruptcy code.