Deal Directly with Yorba Linda Bankruptcy Attorney
Christopher P. Walker

Orange County bankruptcy attorney Christopher P. Walker has assisted Yorba Linda residents in starting over financially during the last 17 years. The Law Office of Christopher P. Walker provides individualized solutions to help our clients with issues such as bankruptcy and debt relief. Our small company or personal bankruptcy services can assist you in resolving your financial issues.

We want to help you to avoid foreclosure or wage garnishments.

Christopher P. Walker has helped residents of Yorba Linda and the neighboring towns for 17 years as they go through the bankruptcy process. He knows everything there is to know about bankruptcy law and will tell you all the ins and outs in your free half hour consultation.

Save Your Home

You can save your home by letting us file Chapter 13 Bankruptcy for you! Once we have filed the petition on your behalf, there will be an automatic stay in effect, and your lender will have to stop foreclosure proceedings on your home.

Debtors who have become financially distressed can help save their homes by filing for Chapter 13 – Bankruptcy.

When the mortgage principle is more than the FMV of a house, chapter 13 Bankruptcy can be a valuable tool for combating the mortgage crisis. It allows the bankruptcy judge to “strip-down” mortgage debt. Foreclosures continue to skyrocket due to the sub-prime mortgage crisis and homeowners’ inability to make mortgage payments once their initial interest rate changes. Housing experts believe that between 2 and 3.3 million foreclosures can be expected in the next couple of years. These will include 1/5th of all sub-prime mortgages that have been made since 2005. Foreclosure costs both borrowers and lenders a lot of money. Borrowers have to pay for relocating. Lenders lose quite a bit of the value of the home before it is finally resold.

Foreclosure costs quite a bit for borrowers and lenders alike. It would be better for both parties if they could deal with the mortgage crisis in a way that renegotiates the mortgage voluntarily. Actually, not many renegotiations have taken place. The reason for this is that the majority of mortgages have been repackaged to become mortgage-backed securities. In this scenario, ownership is divided amongst a number of security-holders who all have divergent interests. For this reason, they probably won’t agree on changes to the terms of the loan. Furthermore, even though every mortgage has a service agent who acts on the behalf of the owner, the majority of mortgage servicing contracts compensate the service agent for the expenses involved in foreclosing. However, this does not pay for the costs of renegotiating. Yet a further problem is the fact that a large number of homes in default are carrying second mortgages. Second mortgage holders prevent the first mortgage from being refinanced until the second mortgage has been paid off.

When debtors file under Chapter 13, it stops lenders from foreclosing. Additionally, it gives the borrowers a little more time to pay off their back mortgage payments. You can also use Chapter 13 to prevent an automobile repossession.

To consult with an experienced Yorba Linda bankruptcy lawyer, please give us a call now at 1-714-639-1990 to get started. You will deal directly with Christopher P. Walker and not a paralegal.