Are you a homeowner struggling to keep up with your mortgage payments and worried you might be facing foreclosure? The good news is you may have resources available to help you delay or stop foreclosure altogether with a loan modification. Before you choose your course of action for foreclosure avoidance, it’s important that you thoroughly…
Don’t let yourself be rushed into modifying your loan. Although loan modifications are a powerful tool for resolving a very stressful situation, you shouldn’t jump into one lightly, or because someone is promising it’ll solve all your problems without doing your own research. There is an entire industry of loan modification companies. Most of these…
Are you a homeowner falling behind on mortgage payments? Worried that you may not be able to pay as much towards your mortgage soon? Want to restructure your mortgage payments to make them more affordable? You may be able to get a mortgage loan modification from your mortgage company to help make the loan more…
The thought of losing your home because of debt and having it sold through a sheriff’s house auction can be overwhelming and scary. Most people don’t know anything about sheriff’s sales until they are involved in one. Having your house sold through an unfamiliar auction process can be confusing. A foreclosure attorney can help explain…
If you’re facing foreclosure on your home, it’s understandable that you might have questions about parts of the foreclosure process. It can be confusing and overwhelming for people unfamiliar with the foreclosure process. There are a lot of steps in the foreclosure process. It’s important to understand what each step means and what action or…
Going through a foreclosure can be very stressful, and not knowing the long-term effects of a foreclosure can add even more stress. The impact on your credit score is probably a negative effect of foreclosure that you haven’t considered before. It’s important that you know that a foreclosure will impact your credit after your home…
Lenders will try to make up the difference left over when a homeowner defaults on their mortgage loan, and one of the most common ways they do that is through a sheriff’s sale. For traditional foreclosures in New Jersey, lenders typically sell a foreclosed property to the highest bid during a sheriff sale. However, a…
A common question we get is, “can a foreclosure lawyer stop foreclosure?” The short answer is yes, a lawyer may be able to stop foreclosure, but it depends on the situation. Working with a foreclosure lawyer to help you throughout the foreclosure process brings a wealth of knowledge to help you in your case. The…
USDA loans are similar to conventional loans. However, there are important differences you should be aware of, including how they go through foreclosure. The U.S. Department of Agriculture requires lenders to follow specific loss mitigation rules before foreclosing on a USDA home. If you have a USDA loan and are struggling to make mortgage payments,…
Having negative reports on your credit report can negatively impact your credit score. This can be an issue, especially if the negative reports are inaccurate. If you’ve successfully stopped a foreclosure, your credit report may even reflect a foreclosure that didn’t happen. If you have incorrect reports on your credit report, you can dispute items…