The attorneys at The Law Offices of Kenny Tan facilitate discussions between homeowners facing foreclosure and their lenders. We find the best available solution allowing for homeowners to remain. The solutions we provide generally prove most beneficial for lenders as well.
Loan Modifications
Our attorneys understand how to modify existing loans in a manner beneficial to both the homeowner and the lender. If structured correctly, the terms of the mortgage modification make staying in the home more affordable. Such a remedy also provides lenders the opportunity to receive payments for approximately the full value of the home without having to resolve the matter through foreclosure proceedings.
Implementation Of A Short Sale
There are also a number of government programs available allowing homeowners alternate financing. For example, the Home Affordable Modification Program (HAMP) and Home Affordable Foreclosure Alternatives (HAFA) provide various options to avoid foreclosure, including short sales and deed in lieu of foreclosure. Our lawyers are knowledgeable about these programs and whether participation in these programs would be a viable option.
While short sales have become an increasingly popular method in dealing with possible foreclosure issues, this may not be the correct remedy to choose in every situation. There are tax liability issues that need consideration. Also, the homeowner may still be liable to the lender even after the short sale has taken place.
Attorney Kenny Tan is a trusted real estate attorney who has been handling foreclosure matters in the Los Angeles area for more than 20 years. As a licensed real estate broker, he understands every aspect of real estate and real estate foreclosure law in California. He provides guidance regarding every available option.
Diamond Bar And Fremont Real Estate Foreclosure Attorneys
Contact The Law Offices of Kenny Tan to find out more about various foreclosure alternatives by calling 909-860-9008. We are fluent in Mandarin.
