California Foreclosure Alternatives Lawyer
The depressed state of real estate values in California has many property owners looking for solutions to high levels of mortgage debt.
At John D. Teter Law Offices in San Jose, California, we help residential and commercial property owners deal successfully with issues involving distressed real estate values and inadequate cash flow. We understand the available alternatives that can reduce or eliminate mortgage debt and work diligently to help property owners get out from under crushing debt burdens.
Attorney John D. Teter can review your situation and discuss your options. These can include:
- Loan modification
- Refinancing
- Deed in lieu
- Bankruptcy
- Foreclosure
- Short sale
- Other refinancing and cancellation of debt income (CODI) solutions
If your home or commercial property is underwater, contact our firm.
Achieving Your Goals
Nowadays, many financial firms and advisers are pitching loan modification and other strategies that promise mortgage relief to California homeowners. You should approach these schemes with caution.
As an attorney, John D. Teter is not in the business of selling a financial product or service. He provides objective and candid advice designed to provide the best solution for the client's particular situation. For example, if you want to stay in your home and have the income necessary to cover a lower monthly mortgage payment, a loan modification may be right for you. If your home is far underwater, however, it may be better for you to do a short sale or to permit a foreclosure of your home. John D. Teter can review your situation and find the right solution for you.
Before you make any decisions, get honest, objective advice from John D. Teter Law Offices.
There may be significant tax implications when selling or refinancing a property. John D. Teter has more than 25 years' experience in taxation law and can help you deal successfully with any tax issues that arise in your case.
Things to Keep in Mind
In addition to the well-known credit consequences, resolution of your distressed property may expose you to capital gain or loss from an actual or "deemed" sale as well as being treated as having received income from a reduction or cancellation of a debt.
There is often a "right way" and a "wrong way" to accomplish the same result — the difference may not be seen until tax consequences appear later. John D. Teter can help you avoid being saddled with the "pound of cure" that can perpetuate your present financial woes far into the future.
Contact a San Jose Distressed Real Estate Attorney
For a consultation with John D. Teter Law Offices, contact our firm.
