Do You Have Second Mortgage Settlement Questions? We Can Help!

Speak With Our Los Angeles Second Mortgage Settlement Attorneys
Speak With Our Los Angeles Second Mortgage Settlement Attorneys

Los Angeles Bankruptcy Attorney – Second Mortgage Settlement

Los Angeles Bankruptcy Attorney - Second Mortgage SettlementWhen your home loan is completely underwater and you are delinquent on your mortgage payments, you be at your wits end with no one to turn to for solutions. The skilled attorneys at the Law Offices of I Los Angeles Bankruptcy Attorneys have developed a reputation among our clients and colleagues for being “The Home Savers of Southern California.” We stop at nothing to explore all viable solutions to keep you in your home without the devastation of a foreclosure.

With the housing market collapse, homeowners across California and the United States have experienced immense financial distress and this economic crisis has resulted in thousands of foreclosures. Unable to pay their mortgages and drowning under mounting debt, many homeowners refinanced to obtain a secondary mortgage or home equity line of credit (HELOC) at a time when the market and home prices were at their peak. With the over-inflation of home prices, many homeowners found themselves underwater on their mortgages, in a negative equity situation.

Solutions for Second Mortgage Settlements

There is a solution to your financial distress and our attorneys will support you through the process of finding the most appropriate next step. Loan modifications are the most effective tool for homeowners struggling to pay their mortgages, although modification to a loan on a second mortgage can be hard to come by.  Second mortgages are usually much less than the first and a lender is left with very few options for modification besides lowering interest rates, which often does nothing to lower the overall mortgage payment.

If you hope to keep your home despite financial hardships that make paying both your first and second mortgages difficult, if not impossible, your main priority is to continue payment on your primary mortgage. Your attorney can assist you with exploring payment options for handling your first mortgage as your primary priority before attempting to pay off your second. As the second lien holder on an underwater property, your second mortgage lender will be reluctant to foreclose on your property since they would forego the entirety of their investment. This reality may buy you some time to assess your financial situation with an attorney to create a financial strategy and a possible first and second mortgage settlement.

The key to success in dealing with a second mortgage settlement is to create a comprehensive financial strategy with the assistance of a skilled attorney and to exercise immense patience. A second mortgage settlement can be a long and drawn out process that may take months, possible even years.

Contact a Second Mortgage Settlement Attorney Today

We are proud of the rock-solid reputation we have earned among our former clients and colleagues and look forward to providing you with high quality legal assistance as you deal with the possibility of Chapter 11 or 13 bankruptcy or foreclosure on your home. Please contact our offices located in Sherman Oaks and Los Angeles today to speak with one of our bilingual staff members and to start the process of financial recovery. As a Southern California debt relief agency, we are standing by to assist you. Call us at (213) 699-3055 today for a free consultation.

Free Los Angeles Speak With Our Los Angeles Second Mortgage Settlement Consultation

Free Los Angeles Second Mortgage Settlement Consultation
Free Los Angeles Second Mortgage Settlement Consultation
 “The bankruptcy attorneys at Resnik Hayes Moradi LLP provided us the peace of mind I so desperately needed. I was not sure what to do and I felt like I was at the end of my rope. They were there the entire step of the way and gave me the necessary information I needed to make the right choice for my family.”Dave B.

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The los angeles bankruptcy attorneys at Resnik Hayes Moradi LLP we pride ourselves on our commitment to prompt responses to our potential clients and clients. Your case is very important to us and we will respond to you as soon as possible.