News & Insights

Walk away refers to situations where a homeowner may be able to leave a property under certain legal conditions without continuing responsibility for the mortgage, depending on applicable rules.

In California, the homestead exemption is currently $75,000 for most homeowners and can go up to $175,000 for individuals over 65 or those who are disabled.

A homestead exemption does not stop or prevent foreclosure on a property. Instead, it protects a set amount of home equity from unsecured creditors by shielding it from certain types of liens. This means it helps safeguard equity in the home, but it does not interfere with the foreclosure process itself.

If payments are missed during a Chapter 13 bankruptcy, it does not automatically end the case. In some situations, an attorney can request permission from the court to allow missed payments to be addressed without dismissing the plan.

Chapter 7 bankruptcy is a liquidation process where a trustee may sell assets to repay debts, while Chapter 13 is a structured repayment plan designed to help individuals catch up over time.

In Newport Beach, purchasing or selling real estate can be a complex and daunting process, with numerous legal intricacies involved. This is where a real estate lawyer plays a crucial role in ensuring a smooth and successful real estate transaction. A real estate lawyer in Newport Beach also plays a key role in negotiating terms and conditions between buyers and sellers, with the goal of protecting their clients' best interests. Discover why the expertise of real estate lawye