Bankruptcy can be an effective tool for dealing with debt from multiple mortgages on commercial property and personal residences. Filing bankruptcy will put an immediate stop to a foreclosure. If you have multiple mortgages, it may also allow you to make your payments more affordable.
At the Orantes Law Firm, in Los Angeles, lawyer Giovanni Orantes is dedicated to helping commercial and residential property owners throughout Southern California obtain relief from mortgage debt. We offer a free initial consultation to look at the challenges you face and give you honest answers about your rights and options.
If you have multiple mortgages on your home or commercial property, and you are underwater (in other words, you owe more than the property is worth), filing Chapter 13 bankruptcy may give you a way to reduce your payments to an affordable level.
Here are some examples:
These options are also available when you file Chapter 11 or Chapter 12 bankruptcy. If you have a multimillion-dollar home or multiple properties, Chapter 11 bankruptcy may provide you with the best chance of protecting your property.
For more information about multiple mortgages and bankruptcy, call (213) 340-0534 or contact us by e-mail to schedule a free initial consultation. Se habla español.