Mortgage arrears · Beverly Hills
Mortgage Arrears Cure Plan in Beverly Hills to Catch Up and Keep Your Home
A mortgage arrears cure plan in Beverly Hills lets you repay missed mortgage payments over 3 to 5 years through Chapter 13 while you keep making your regular payment. If you are behind and the lender has started foreclosure, call (310) 362-9071 for a free consultation.
- Missed monthly payments
- Late fees and allowed foreclosure costs
- Escrow shortages for taxes and insurance
- Spread over up to 5 years
Who a cure plan is for
A cure plan is for homeowners who fell behind because of a past setback, such as a job loss, illness or divorce, and who can now afford the regular mortgage payment plus a plan payment.
- You are several payments behind and the lender will not accept partial payments
- A Notice of Default has been recorded
- A loan modification was denied or is taking too long
- Your income is steady again
How we build your cure plan, step by step
- Get the real arrears. We get the amount due from your servicer and compare it to your records.
- Build the budget. We confirm you can pay the regular mortgage and the plan payment each month.
- File Chapter 13. The filing stops the foreclosure right away.
- Review the lender's claim. The lender files a proof of claim listing the arrears. We check it for errors and object when fees or charges are wrong.
- Pay through the plan. The arrears are paid through the trustee over the life of the plan, while you keep paying the ongoing mortgage.
- Finish current. At the end, the trustee files a notice of final cure, and the lender must say whether it agrees you are current.
Cost and timeline
A cure plan is part of a Chapter 13 case. You get our fee in writing at the free consultation.
The foreclosure stops when we file. Your plan is usually confirmed within a few months, and the arrears are repaid over 3 to 5 years. The longer the plan, the lower the monthly cure amount.
Cure plans in the Los Angeles Division
Chapter 13 cases from Beverly Hills and most of Los Angeles County are filed in the Los Angeles Division of the U.S. Bankruptcy Court, Central District of California, at 255 East Temple Street, and administered by the Chapter 13 trustee for that division. The court uses a local form plan that shows how the arrears and ongoing payments are handled.
During the case, your servicer must send notices when your payment changes, such as an escrow increase. We review those notices so a payment change does not put you behind again.
Mistakes to avoid
- Missing a regular payment. New missed payments after filing can let the lender ask to resume foreclosure.
- Ignoring escrow changes. Property tax and insurance increases change your payment.
- Accepting the lender's numbers without checking. Arrears claims sometimes include fees that are not allowed.
- Waiting for the sale date. Starting early gives you more choices.
Related services
A cure plan is part of Chapter 13 bankruptcy in Beverly Hills. If you also have an underwater second loan, read about second mortgage lien stripping in Chapter 13.
More on Chapter 13 bankruptcy
- Chapter 13 bankruptcy in Beverly Hills
- Chapter 13 Eligibility and Debt Limits
- How a Chapter 13 Plan Payment Is Calculated
- Car Loan Cramdown and the 910-Day Rule
- Changing a Chapter 13 Plan After Filing
- Why Chapter 13 Cases Get Dismissed and How to Avoid It
- Chapter 13 Hardship Discharge
- The Co-Debtor Stay: Protecting a Co-Signer
- Mortgage arrears cure plan
- Second mortgage lien stripping in Chapter 13
- Converting Chapter 13 to Chapter 7
Mortgage arrears questions
How far behind can I be and still use a cure plan?
There is no fixed limit on how far behind you can be in a cure plan. What matters is whether you can pay the arrears over 3 to 5 years on top of your regular payment. Large arrears mean a larger plan payment.
Do I pay interest on the mortgage arrears in my plan?
Whether you pay interest on mortgage arrears depends on your loan documents and state law. Many cure plans pay the arrears without extra interest. We check your loan.
Can I sell the house during the plan?
Yes, you can usually sell the house during the plan with court approval. The sale pays off the mortgage, including any remaining arrears, and the plan is adjusted.
What if my lender says I am still behind at the end?
If your lender says you are still behind at the end, the court can decide the dispute. The final cure process requires the lender to state its position, and we respond with your payment records.
Free consultation
Catch up on your mortgage and keep your home
Call (310) 362-9071 or send the form. Have your latest mortgage statement and any foreclosure notice ready.
Law Offices of John Asuncion9454 Wilshire Blvd., Penthouse Floor
Beverly Hills, CA 90212
(310) 362-9071
Monday to Friday, 9 a.m. to 6 p.m.