12 Days of Christmas with Cabanillas & Associates

As 2017 begins to wind down, we're highlighting some of the clients we've had the opportunity to help through legal challenges this year. It has been our honor.

Thank you to every person who has trusted us to fight for you.


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Day 1

Helping our client, L.L., to rid herself of baggage and move on with her life.

LEGAL CHALLENGE:

Our client, L.L., owned a property with her ex-husband. Due to unforeseen circumstances she could not keep up with mortgage payments and she was sued for foreclosure.

Her ex-husband did not want anything to do with the house and her attempts to modify her loan were not successful because her income was not sufficient. She decided that she was better off moving to a smaller place where she did not have to deal with the burden of house maintenance plus a large debt with the bank.

In addition, even though the house title was under her name, the debt was still joint with her ex-husband and she wanted to sever any connection so that she could start anew. She came to us for help in selling her home and settling her debts.

LEGAL SOLUTION:

We negotiated a short sale (which is an alternative to a loan modification) with the lender which included both loans affecting the property.

The house was sold at market value but under the amount owed to the lenders. In addition, we were able to successfully close even though the ex-husband refused to cooperate since he had filed for bankruptcy after the divorce.

Both lenders forgave the deficiency (balance of debt not covered by the purchase price).

BENEFIT TO THE CLIENT:

L.L. has one less thing to worry and now she can focus on starting a brand new life without any ties to the past and, most importantly, without debt to any lender.