Legal Question in Real Estate Law in California

Debt Problems

I'm behind in the mortgage and have too many bills. I'm trying to get a second mortgage to pay off the bills and have more money each month. However, this isn't happening fast enough. I'm supposed to make two mortgage payments on Saturday otherwise I get a notice of default. I can't do it. What can I do? I want to keep my house. I can pay all my bills if I can qualify for a loan.

Thanks.


Asked on 9/27/01, 10:20 pm

2 Answers from Attorneys
Ken Koenen Koenen & Tokunaga, P.C.

Re: Debt Problems

Hopefully, this is not too late. Were you able to get the loan? You are better off making payments on your mortgage than making payments on the bills.

There are loans out there that do not require qualification, but are at a higher interest rate. That might not be bad, though, if you have high inerest credit card, etc.

Let me know if you want a referal to a lender.

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Answered on 11/13/01, 4:31 pm
Robert Miller Robert L. Miller & Associates, A Law Corporation

Re: Debt Problems

Thanks for your posting. You have several options, including participating in a workout program through your lender, negotiating, or going into a bankruptcy, which would give you as long as three years to catch up on the loan. Please call me or email me for more details if you're interested. Thanks.

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Answered on 11/06/01, 8:01 pm


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