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Timothy McFarlin, Premier Bankruptcy Attorney, on Massive Foreclosures Coming as Mortgage Forbearance Runs Out

Timothy McFarlin

LOS ANGELES, CA, UNITED STATES, December 3, 2020 /EINPresswire.com/ -- Acclaimed Foreclosure Defense Attorney Timothy McFarlin warns homeowners the time is now to have a plan in place for December 31, 2020 when CARES Act Mortgage Forbearance period runs out. Without massive government involvement, we project hundreds of thousands of foreclosures to begin in the first quarter of 2021.

The CARES Act was a great relief for homeowners unable to make mortgage payments which essentially blocked foreclosure activity on most consumer mortgage loans, including all types of properties, but that day of reckoning is fast approaching where the restrictions on lenders are completely lifted, and homeowners are subject to foreclosure.

In some circumstances, there may be additional time offered by lenders, but homeowners should not rely on such relief as lenders will be anxious to get “non-performing” loans off their books as quickly as possible. Mortgage lenders are not looking out for homeowners, they are profit seeking institutions who are more than happy to foreclose, especially now when so many homeowners have equity in their properties.

However, there are options many homeowners may have. McFarlin LLP and Attorney Timothy McFarlin has been planning for the flood of homeowners who need help by laying the groundwork for lawsuits against lenders who made no representations whatsoever as to how mortgage forbearance would end amicably for homeowners. In most cases there were no documents signed and no contract, which actually could work to the advantage of homeowners with the right legal assistance. Our office is focused on keeping homeowners in their homes despite the demands of mortgage lenders. A lump sum payment to catch up payments just simply is not an option for most homeowners to avoid foreclosure, likewise a repayment plan over a short period (plus a full mortgage payment) is not likely affordable either.

McFarlin LLP is prepared to work out the best possible arrangement for homeowners throughout California and secure the lowest possible payment to keep them right where they belong, in their family home. Call us anytime to have your case analyzed at no charge: (949) 570-5025 or online at www.mcfarlinlaw.com. Don’t struggle alone, a qualified, experienced foreclosure defense attorney can help with affordable fees and unmatched industry knowledge.

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Timothy G. McFarlin | McFarlin LLP
Founding Attorney, Partner

https://www.mcfarlinlaw.com/attorneys/timothy-g-mcfarlin/
Call 949-570-5025

Timothy G. McFarlin is an attorney at McFarlin LLP who practices many areas of law, including real estate law, debt reorganization, bankruptcy, business litigation, consumer law, and mortgage litigation. Clients range from individual consumers to large national corporations.

Mr. McFarlin has previously worked for the Honorable Christopher M. Klein, Chief US Bankruptcy Court Judge, Eastern District of California as a judicial extern. Additionally, Mr. McFarlin also worked for Charles W. Daff, Chapter 7 Bankruptcy Trustee in the Central District of California, in areas of law related to Business Law, Consumer Bankruptcy, Commercial Bankruptcy, and Foreclosures. Mr. McFarlin maintains a strong working relationship with Chapter 7 Trustees as well as the US Trustee.

Mr. McFarlin is admitted to practice law before all Superior and Federal Courts in the State of California, including the Southern District of California, Central District of California, Northern District of California, and Eastern District of California. Mr. McFarlin has filed cases in, and practiced before, all Federal Courts in California.

Mr. McFarlin is a member of the Orange County Bar Association and has been a speaker at Orange County Bar Association Events, Real Estate Division on matters related to foreclosures, mortgage litigation and short sales. McFarlin has previously been a member of National Association of Bankruptcy Attorneys and has also been cited and quoted by National Publications (including USA Today), as well as a variety of local publications such as the Orange County Register on topics related to bankruptcy and foreclosure.

Mr. McFarlin graduated from the University of California at Los Angeles (UCLA) with a B.A. degree in Economics, and an emphasis in Accounting. Mr. McFarlin received his J.D. from the University of California at Davis (King Hall). Mr. McFarlin focused specifically on reorganization and bankruptcy, litigation, and business law.

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