Loan Modification, Bankruptcy Avoid
Foreclosures & Save your Home
The economy is facing recession and with it comes the struggle to keep up with the monthly mortgage
bills. In such a case the strategy and ability to protect your home from foreclosure depends on where you
are on the foreclosure timeline which one should be aware of to avoid foreclosure. The foreclosure
timeline is-
When a borrower has missed several months of mortgage payments (generally about three months) the
lender files a Notice of Default with the county recorder. The NOD identifies the default amount and the
date by which the borrower must pay off the default.
When a Notice of Trustee Sale is sent after 90 days has elapsed after the NOD is filed when the lender
has the right to file a Notice of Trustee Sale. It is done 20 days prior to the sale. It contains the date, time
and location of the sale and posted on the property and in public location as well.
When Trustee Sale Auction held at the place and time as mentioned in the Notice of Trustee Sale. The
successful bidder receives a trustee’s deed to the property once the sale is completed.
Now when you are aware of the time line, it is important to ascertain and come to a conclusion on saving
your dream home from an unfortunate foreclosure. The most obvious way to save your home is to work
out a mutually beneficial payment plan with your lender, or to revise the terms of your original loan
agreement in order to make manageable mortgage payments to your lender. Lenders can help you out in
the loan modification process but it can be frustrating for the borrower due to pressure of work on the
lender. In such a case online law firms looks at all of the aspects of your loan agreement and gives you
the best possible leverage when negotiating the terms of your loan with your lender.
Borrowers can also feel protected from engaging in unfair lending practices through a number of federal
laws. Borrowers can be the victim of predatory lending practices without even knowing a bit about it. In
such a scenario, a forensic loan audit is done on the original loan documents and if you have been a
victim of predatory lending, you may have the right to file a lawsuit against your lender and to put a stop to
the foreclosure process for the duration of the suit.
The next best option is to declare Bankruptcy which puts an immediate stop on the foreclosure process,
hence providing with an opportunity to start fresh on your finances. It is the solution that you can resort to
when you are the facing the difficulty in paying your monthly mortgage bills and getting into additional
debts. The solutions are, therefore attainable to enter into a loan modification process and working out on
a mutually beneficial payment plan, protection from predatory lending practices on the part of the
borrower and declaring bankruptcy in order to avoid foreclosures. Online law firms have expert attorneys
who specialize in loan modifications and foreclosure prevention to help out in moments of recovery.

You are into a mess with the untimely recession and struggling to pay mortgage bills and fearing
a possible foreclosure. Get solutions to avoid it and know more about the loan modification,
bankruptcy, Immigration and foreclosure time line.
http://www.stonehavenlaw.com
9121 Haven Ave. Suite 250
Rancho Cucamonga
CA 91730
Phone Number :( 909)457-8200
Fax Number: (909) 457-8208
Email:info@stonehavenlaw.com