Temecula is a city in Riverside County with a population of 120,000 people. It borders Murrieta and the Pechanga Indian Reservation. Temecula has a high number of military families with its close proximity to camp Pendleton and the navy bases in San Diego. Temecula has grown a wine industry in recent years and is one of the few cities in California to retain its Indian name.
The growth in Temecula was fueled by many subprime loans, which offered affordable housing alternatives to people living in San Diego and Orange County. It has since been hard hit with foreclosures. If you have purchased your home in the Temecula area after 2002 its likely that its underwater and you owe more than what the home is worth. If your home is so underwater that you owe more to the first than the house is worth then we can strip your junior lien in a chapter 13 bankruptcy and likely bring the value of the home closer to what you owe on it which is a viable alternative to walking away or foreclosure and allows you to retain equity as the housing market starts to recover. The median income for a family in Temecula is above the median in California so its likely you’d have to do a chapter 13 instead of a 7. Let an experienced bankruptcy attorney guide you through the process of stripping a lien and getting you back on your feet financially.