Long Beach Second Mortgage Lawyers
If you own a home or other property, you may have used your equity to take out a second mortgage. While this is a common practice, it can create a major problem if you are unable to pay. Financial pressures could put you at risk for foreclosure and, with a second mortgage, outstanding amounts owed could haunt you for years into the future. To protect your rights, get Wadhwani & Shanfeld on your side.
Our legal team will thoroughly review your case and advise you on the options available. With over 25,000 satisfied clients and an A+ rating from the Better Business Bureau, you can count on us to provide the trusted legal guidance you need. Contact our experienced Long Beach second mortgage debt lawyers today.
Our Long Beach Second Mortgage Attorneys Have Over 75 Years of Combined Experience Protecting Clients
As a homeowner, you may be eligible for a home equity loan or other lines of credit. Commonly referred to as a second mortgage, this uses your property as collateral. However, if you eventually struggle to pay your original mortgage, this second mortgage poses a serious problem.
The California Civil Court provides detailed information for homeowners concerning the risks involving foreclosure. Foreclosure can result from any of the following situations:
- Job losses and reductions in income;
- Physical or mental health issues, resulting in heavy medical bills;
- Other unexpected expected expenses, such as caring for aging parents;
- Being unable to sell a property you can no longer afford or has decreased in value.
At Wadhwani & Shanfeld, we have over 75 years’ worth of combined experience helping clients facing these types of problems. Unfortunately, second mortgages are a common and additional hurdle that must be overcome. A foreclosure aims at satisfying the existing mortgage but often falls short. The homeowner typically shoulders the entire burden of any second mortgage taken out on the property.
We Protect Your Rights When Dealing With Second Mortgages In Long Beach
The financial devastation surrounding potential foreclosure procedures is challenging enough to deal with. Add in a second mortgage, and the stress you are likely facing is tremendous. At Wadhwani & Shanfeld, we provide the trusted guidance and professional legal representation you need to protect your rights in this situation. Actions our Long Beach second mortgage attorneys can take on your behalf include:
- Reviewing all of the circumstances surrounding the situation;
- Negotiating with the bank to reduce your mortgage payments or modify the terms;
- Use debt settlement strategies, such as offering lump sum payments, to reduce the amount owed on a second mortgage;
- Detail your options in terms of bankruptcy, which can help to save your home while potentially eliminating second mortgages or other types of debts.
Contact Wadhwani & Shanfeld To Discuss Your Options Today
A potential foreclosure is a serious matter, particularly if you have a second mortgage in place. At Wadhwani & Shanfeld, we provide the trusted legal guidance needed to protect your rights and your future financial security. To discuss your options, contact our Long Beach second mortgage attorneys today.