Legal Question in Real Estate Law in California

I have Countrywide Loans from 2007, I'm definite that my loans are "Toxic loans".

My goal Is one of the two option above:

1.To "buy time" and keep the house as long I can get ,

2. Restructure the loan amount to current market,so I will start to pay the bank again.

Please let me know if you can recommend which tactics to go in order reaching my goal, Also advise how much it will cost me approximately .

Thanks


Asked on 1/22/12, 1:02 am

2 Answers from Attorneys

How many times do you have to be told to consult a bankruptcy attorney or give up?

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Answered on 1/22/12, 1:11 am
Bryan Whipple Bryan R. R. Whipple, Attorney at Law

Advice on possible delaying tactics, or guessing how much time you have before a foreclosure, would require some information going beyond "toxicity" of the loans. For example, how many payments are in arrears? Have you received a Notice of Default? A Notice of Trustee Sale? My recent experience with BofA foreclosures is that they make at least a half-hearted attempt to contact and counsel their defaulting borrowers.

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Answered on 1/23/12, 8:32 am


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