Legal Question in Real Estate Law in California

Forclosure

My home is about to go on forclosure is on forclosure. My mother died and had no will. My mom told me to save the house verbally but she did not do a will? I am on title and on the deed with her as tenants in common. Do I need to do probate to save the house in order to do modification? I lost my job and need my home? I do work in L.A.U.S.D. as a Sub. Teacher but work is slow and they are going on strike. All the Subs. are on freeze. I need to know if I need to do probate? Or doing Chapter 13 can help me save my house? Filing for bankruptcy since I owe 17,000.00. What do u suggest I do? Please help me I am a single mom with my 1 daughter who is 8. I don't want to live in the street. Please help me....


Asked on 2/18/09, 5:00 am

3 Answers from Attorneys
Lyle Johnson Bedi and Johnson Attorneys at Law

Re: Forclosure

You should consult with a bankruptcy attorney. Before the last change in the bankruptcy law, it was possible to save your house by stretching the house payment arrears over a 5 year period. It may be a possibility to renegotiate the home loan.

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Answered on 2/20/09, 8:29 pm
Terry A. Nelson Nelson & Lawless

Re: Forclosure

Filing BK loses the house to the BK court, along with all your other assets, to pay your creditors. You can try to renegotiate the loan, and yes, you may have to file a Probate action to resolve the title issues, no matter how you handle this. IF the house actually has equity in it, get started talking to the lender asap, and also consider selling the house to get the equity out for you to live on.

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Answered on 2/18/09, 12:56 pm
Terry A. Nelson Nelson & Lawless

Re: Forclosure

Filing BK loses the house to the BK court, along with all your other assets, to pay your creditors. You can try to renegotiate the loan, and yes, you may have to file a Probate action to resolve the title issues, no matter how you handle this. IF the house actually has equity in it, get started talking to the lender asap, and also consider selling the house to get the equity out for you to live on. Feel free to contact me if serious about getting legal help.

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Answered on 2/18/09, 12:57 pm


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