“San Marcos Sally” is a registered nurse at Palomar hospital and has worked in the ICU critical care unit since 2004. In 2005, San Marcos Sally purchased a home for $450,000 secured by a first deed of trust in the amount of $350,000 and a second mortgage in the amount of $100,000. In the seven years since she has purchased her home, its value has decreased significantly down to $325,000. San Marcos Sally tried to negotiate a loan modification but has not had any luck because she earns a good living and has continued to stay current on her mortgages.
After months and months of frustration, and not wanting to continue to pay for an asset significantly under water, she contacted San Marcos bankruptcy attorney and debt relief lawyer Jeffrey D. Larkin for a consultation. Mr. Larkin took the time to review her case in detail, all options were explored, and a debt relief plan prepared. As it turned out, San Marcos Sally’s best option was to file for Chapter 13 protection and strip the $100,000 second mortgage on her home. With the help of a knowledgeable bankruptcy lawyer in San Marcos, she now only makes payments on the $350,000 first mortgage and the second was eliminated in her bankruptcy filing. San Marcos Sally was able keep her home, eliminate a $100,000 junior mortgage and restore financial order to her life.
If you or someone you know is in financial distress and not sure where to start, contact the Larkin Law Firm for a free consultation, get started on a debt relief plan that works for you, and find detailed answers to all of your important financial questions.
The city of San Marcos draws people from all over to experience its fabulous restaurants. The city is also home to California State University. San Marcos offers 20 plus miles of scenic walking trails for hiking lovers. This exciting suburb of San Diego County has a population of over 80,000. Well known for its excellent quality of life services and small town charm, San Marcos is dedicated to providing great parks in addition to making the city a safe place to live for its residents.
The median household income for the city of San Marcos is $44,339. The estimated median house or condo in San Marcos is valued at $358,700 and the median gross rent is $1,193.