Most people are familiar with mortgage foreclosure, but many homeowners don’t realize that even if their mortgage is paid off, they can still lose their home to foreclosure if they don’t pay their taxes. In this article, we’ll break down the most important things you need to know about how tax foreclosures work, including what…
If you are behind on your mortgage payments and the bank forecloses on your home, the lender is entitled to recover what is owed, but they are not entitled to anything more than that. Unfortunately, we are seeing many cases in which scammers and predatory lenders are trying to steal surplus equity from innocent homeowners…
In theory, the mortgage transfer process is simple. In reality, mistakes during mortgage servicer changes happen all the time. Documents get lost, payments are misapplied, and loss mitigation applications are mishandled. Even if the mistake was made on the servicer’s end, the impact still hurts borrowers and can even lead to wrongful foreclosure. In this…
If you are in bankruptcy and your lender has told you that your Chapter 13 payments are increasing, you are not alone. In Chapter 13, your bankruptcy repayment plan is determined by the court, and includes how much will be paid toward your mortgage and escrow. Your lender is not legally allowed to increase your…
If you’ve recently gone through foreclosure or are in the foreclosure process, it’s normal to wonder, “Can you buy a house after foreclosure?” Many homeowners assume they won’t qualify for another mortgage after a foreclosure, but that’s not the case. Even after losing a home to foreclosure, it is still possible to qualify for another…
Even if you’ve defaulted on your mortgage and have entered into the foreclosure process, you have a right to reinstate your mortgage and save your home. In this article, we’ll break down everything you need to know about what a mortgage reinstatement is to help you determine if it is the best option for you. …
Because New Jersey is a judicial foreclosure state, all foreclosures must go through the court system before they can be finalized. As part of the legal process, each side will have the opportunity to gather evidence before the trial to help build its case. This is known as the discovery phase in a lawsuit and…
During COVID-19, the SBA created the Economic Injury Disaster Loan (EIDL) program to help small businesses survive the financial impact of the pandemic by providing loans to cover operating expenses. For many companies, this loan was their lifeline and was the reason they were able to make it through the shutdown. However, with EIDL payments…
Facing foreclosure can be scary. If you’ve received a Notice of Intent to foreclose or a foreclosure complaint and summons, you might not know how to save your home. You may have heard of the Foreclosure Mediation Program, which is available to New Jersey residents. The NJ foreclosure mediation program offers a way for you…
The flex modification program is a loan modification offered by Fannie Mae and Freddie Mac. It was created to replace the Home Affordable Modification Program (HAMP) and help borrowers avoid foreclosure by making their monthly payments more affordable. In this article, we’ll discuss what a flex modification is, who is eligible for a flex modification…