Legal Question in Real Estate Law in California

Re: How can I keep my house from being taken away from me

You have several choices:

1. You can sit there refusing to take any corrective action until the house is sold by either one of your creditors or the mortgage company. This course of action will yield the least cash to you.

2. You can rent out spare bedrooms and use the income to pay creditors, or develop some business that you can do at home. Any such business would ideally have low overhead.

3. File a chapter 7 or even if you could file a chapter 13, your creditor's will be paid in full, as you have substantial equity in your home over the homestead exemption amount.

4. If you can come up with a source of income you may be able to negotiate a reduction in the amount due to the credit card companies.

Re: How can I keep my house from being taken away from me

You may have very strong legal alternatives to bankruptcy in this matter. For a free phone consultation, contact us directly ASAP this week.

Re: How can I keep my house from being taken away from me

While San Bernardino could have depressed property values, I would venture to guess that your property might be worth more than you state. Have you looked at comparable sales figures for the neighbors? Perhaps my real estate law colleagues have a better idea of what to do. You wouldn't qualify for a Chapter 13 because you have no regular source of income. A Chapter 7 wouldn't work because you have significant equity in the house. You should get the $1k back from the BK attorney. Small claims court might work. Is there a way to develop an income stream through working at home? Your mortgage is extremely reasonable, but your other bills are crushing you without an income. You might consider recording a homestead declaration to protect a portion of the equity in the house from your creditors. Good luck to you!