Legal Question in Real Estate Law in California

Re: foreclosure

Chapter 13 may help you retain the house, and in a chapter 13 you can also sell your home, but there are a lot of variables that you need to analyze with an attorney. Chapter 13 is complex, particulary if you are going to be selling assets, or seeking a cram-down of any debt, so its virtually impossible to do without an attorney. Additionally, have you considered a short sale? A 50% reduction in the mortgage is going to be a tough sell to the lender, unless of course the mortgage is not that large to begin with. I have seen short sale approvals approaching the 50% mark where the mortgage isn't that large.

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