Inglewood Foreclosure Lawyers

Inglewood Foreclosure Lawyers, CA

Find the Right Lawyer Now

The Foreclosure Process in California

In Inglewood, California, foreclosure is a legal process through which an entity which has issued a mortgage takes possession and/or ownership of the property that secured the mortgage, because the person who took out the mortgage has consistently failed to make payments on it. The property in question is usually a house.

Foreclosure most frequently is a forced sale of a house at auction, since those are the most common types of property bought through a mortgage. Banks will typically try to get rid of the property as quickly as they can, selling it for as much money as they can get in a short period of time.

In every U.S. state, including California, a borrower has a right to a judicial sale of their foreclosed property. A judicial sale is simply an auction overseen by a court. The purpose of this is to make sure that the lender takes reasonable steps to sell the home for the highest possible price, and to ensure that the homeowner has an opportunity to bid on the house, if he or she is able. It is in everybody's interest for the bank to get the highest price possible for the house, even the borrower's. If the house fetches a higher price than what's left on the mortgage, the buyer can keep what's leftover. On the other hand, if it fetches less, the buyer might have to pay the deficiency.

In a large number of states, but not all of them, mortgages are a type of loan identified as a "non-recourse loan." While the regulations governing these loans are complex, it most basically means that, once the house is sold, and the sale price doesn't cover what the borrower owes, the lender can't go after the borrower for the remainder. They simply have to take the loss.

How to Possibly Avoid Foreclosure in Inglewood, California

Communication between you and your lender is perhaps the most important way to avoid foreclosure. Ignoring the issue is guaranteed to be counterproductive. Honesty is the best policy when it comes to dealing with lenders.

Throughout all this, you should remember one thing: the bank doesn't really want your house. After all, banks aren't real estate speculators, they're primarily money lenders. They stand to make a great deal of money if you are able to make your mortgage payments until it's paid off. They're likely to make much less if they're forced to sell your house.

If you experience a sudden change in your financial situation, your lender, in an effort to prevent you from defaulting, might be willing to accept lower monthly payments, at least temporarily.

Finally, there is the "short sale." Typically considered a last resort, a short sale results in the borrower losing their home, but discharges almost all of their remaining mortgage debt. If the house is worth far less than the balance of the mortgage, this might be a good option. In California, when a house is sold in a short sale, the proceeds go to the lender. If it sells for less than the mortgage balance, whatever's leftover is forgiven. If it sells for more, the surplus goes to the homeowner.

Find a Inglewood Lawyer that Specializes in Your Area of Need:

Can a Inglewood, California real estate attorney help?

In Inglewood, California, dealing with a possible foreclosure is never easy. However, the assistance of a knowledgeable real estate lawyer can make the whole process much more bearable, and possibly delay or even prevent the foreclosure altogether.

Foreclosure Attorneys in the Largest CA Cities

Show California Cities

Life in Inglewood

Inglewood, California is a city in Los Angeles County. It currently has a population of around 110,000 residents. It is located in the South Bay area of the Greater Los Angeles region.

Inglewood, California is a vibrant, diverse community. It is extremely ethnically diverse, as well as economically. Its relatively affordable housing makes it attractive to working class individuals, and its proximity to the Los Angeles area makes it attractive to middle-class professionals, such as lawyers.

Inglewood, California is noted for being the headquarters of the D.A.R.E. organization, which seeks to educate schoolchildren and young adults about the dangers of getting involved in violence and illegal drugs. D.A.R.E. employs hundreds of people at its headquarters, including several Inglewood, California attorneys.

If you live in Inglewood, California and are need of legal advice or legal services, you should not hesitate to call an Inglewood, California attorney as soon as possible.

Foreclosure Lawyers in Other California Cities and Towns


Find the Right Lawyer Now

Top Rated Lawyers

View attorney profiles and see how other LegalMatch users rate attorneys that may respond to your case.

Real Estate, Housing & Property Law Lawyer
LegalMatch Real Estate, Housing & Property Law Lawyer Carl M.

Carl M.

Snohomish, WA

Real Estate, Housing & Property Law

Rating (4 users) *****
See Reviews
Real Estate, Housing & Property Law Lawyer
LegalMatch Real Estate, Housing & Property Law Lawyer Robert G.

Robert G.

Loudoun, VA

Real Estate, Housing & Property Law

Rating (1 users) *****
See Reviews
Real Estate, Housing & Property Law Lawyer
LegalMatch Real Estate, Housing & Property Law Lawyer Tim B.

Tim B.

Dallas, TX

Real Estate, Housing & Property Law

Rating (18 users) ****
See Reviews
Real Estate, Housing & Property Law Lawyer
LegalMatch Real Estate, Housing & Property Law Lawyer Charles C.

Charles C.

Seminole, FL

Real Estate, Housing & Property Law

Rating (3 users) *****
See Reviews

Need a Real Estate Lawyer?

No obligation - Lawyers compete for your case. Choose your issue & get started now:

Inglewood foreclosure lawyer, Inglewood foreclosure attorney, Inglewood foreclosure lawyers, Inglewood foreclosure attorneys, foreclosure attorney in Inglewood