San Jose Foreclosure Defense Attorney

What can I do to protect my home from foreclosure?

There are several legal alternatives to foreclosure. What are your goals? Do you want to keep your home or are you willing to walk away? Even if you do not mind letting go of your real estate, do not simply let the foreclosure occur. There are many consequences that foreclosure could incur that another method may help you avoid.

Some of the possible alternatives to foreclosure include:

• Short sale - In a short sale, the lender or bank accepts the proceeds of selling the property instead of fulfillment of the loan, even if the sale price is less than the loan balance. If you have questions about short sale or sheriff's sale, contact The Law Offices of Jeffrey P. Widman.
• Deed in lieu of foreclosure - This option allows you to exchange your property rights for the remainder of the debt. In this manner, the debtor is able to trade in the property and thus satisfy the defaulted loan. You could be able to walk away from your home without debt and without the negative repercussions of foreclosure.
• Negotiating with the lender - In today's challenging economy and its accompanying high rate of foreclosures, many lenders are willing to negotiate with debtors on the chance of at least collecting some debt. Negotiation may be an option for you. Our San Jose real estate & business litigation lawyer is a skilled negotiator. We can work with your lender to pursue more favorable terms by restructuring the terms of your loan.

Protecting San Jose Homeowners Since 1984

If you have fallen behind on your mortgage payments and you have received a notice of foreclosure, or if you are worried about the possibility of losing your home, do not lose hope. There are many possibilities available to you. Call The Law Offices of Jeffrey P. Widman today to request a consultation.