I am a California licensed attorney. I have clients posing this question to me all the time. The purpose of this blog is to assist people in answering this question. I intend to post articles, law, and other information within this blog that home owners may find helpful in developing an understanding as to what rights and obligations they have incident to a promissory note, deed of trust, foreclosure, etc. I am a firm believer that knowledge leads to sound decision making and lack of knowledge leads to bad decision making.
I would like to start by pointing out what I deem to be the obvious. The creditor / debtor relationship is one of the most adversarial relationships that exist in our society. It has always been that way, it is that way today, and it is likely to always be that way. If a borrower does not pay his lender then bad things happen. Please do not forget this when dealing with your lender.
More posts are to follow. For now I would like to draw your attention to the following disclosure:
The information contained within this blog is not intended to be interpreted as legal advice nor is it intended to operate as a substitute for a one on one consultation with an attorney in your State. Every home owner is different. The things that vary from home owner to home owner include: The number of loans encumbering the property; the identity of the lenders with loans encumbering their property; the number of properties the home owner owns; the wording of the loan documents; the wording of the deed of trust, the type of foreclosure the home owner may be experiencing (if applicable); the representations the home owner may have made to their lender, etc. All of these things can and do affect the home owners’ rights and obligations. Through this blog I simply do not have the benefit of time for a one on one consult to study all these aspects of any one home owners’ case. Moreover, there is no expectation of privacy on a public blog so you should not share confidential private information on this blog.
With the foregoing in mind nothing within this blog is intended to operate as specific legal advice; neither expressed nor implied. To the contrary, I strongly encourage anyone encountering mortgage distress to consult with an attorney. Only a California licensed attorney with experience in secured land transactions who has had the benefit of time and access to a client’s paperwork can intelligently and credibly provide a client with any meaningful legal advice.
The information contained within this blog is for general informational purposes only and is intended to help refresh a client’s memory as to any in office meeting they may have had with me. If you have not met with me then you may find the information contained herein to be helpful to developing an understanding as to how a foreclosure works and what rights and obligations you may or may not have. But you are assuming the risk of the outcome of your situation should you choose to not consult with an attorney.