Homeowners always have the right to fight against foreclosure, and defaulting on a loan modification is no exception. If you have defaulted on a loan modification, you still have the right to fight against foreclosure on your home.
Although a deed in lieu of foreclosure avoids foreclosure, it should still be a homeowner’s last option. If you are a homeowner facing foreclosure, you may find some solace knowing that you have other options to stop foreclosure on your home.
One way that lenders can take possession of your home is through an optional foreclosure. Should your lender choose the route of an optional foreclosure, they could take your house without going through the sheriff’s sale process.
The information you find on the internet for stopping a conventional foreclosure may not relate to an FHA foreclosure. Knowing how the FHA pre-foreclosure process works and what options you have available to you for your particular situation could help you in the long run when it comes to stopping an FHA foreclosure.
If you are late on paying your monthly mortgage payments, most loans allow your lender to charge late fees, however, rules that allow late fees on mortgage payments don’t apply when homeowners are already under foreclosure. New Jersey has certain laws in place that prevent banks and lenders from charging late fees for mortgage payments…
What is the statute of limitations in New Jersey? If you are a NJ homeowner who defaulted on your monthly mortgage payment, or expect to default on your mortgage due to a financial hardship, knowing how long the statute of limitations on foreclosures is can be an important factor in how you deal with defaulting…
The last step in the NJ foreclosure process is the sheriff sale, which is scheduled by your mortgage lender once they receive final judgment on your property from the court. Homeowners facing this situation are likely frustrated with the process and worried about how much longer they’ll have until their home is sold. If you…
Loan modifications can be a great option for homeowners struggling with staying up-to-date on monthly mortgage payments. If you are afraid your lender will foreclose on you, or if you are already going through foreclosure, you may still be able to get a loan modification to help make those payments more manageable. If you’re wondering…
The simple answer is yes, if you’re a New Jersey homeowner you can sell your home even during foreclosure. If you’re struggling with being months behind on your mortgage and are dealing with a long term financial hardship rather than a short term setback, selling your home may be the best option for you and…
If you lost your home to foreclosure and your lender sold your home, you may think that you are finally free from your monthly mortgage payments – but that isn’t always the case. In fact, your lender may be able to legally make you pay the rest of your mortgage through a deficiency judgment against…