Most of the time, homeowners have the best chance to stop foreclosure before the sheriff’s sale happens. But if your home has already been sold, it’s not always too late. You still have a chance to get your house back through what’s called the foreclosure right of redemption. In this article, we’ll explain how New…
Even if you’re keeping up with payments on your first mortgage, falling behind on a home equity loan or home equity line of credit (HELOC) can still put your home at risk. Many homeowners don’t realize that defaulting on a HELOC can lead to foreclosure, even if their primary mortgage is paid. Because your property…
Lenders make mistakes or violate the law more often than you realize, which can hurt you financially and even lead to bankruptcy or foreclosure. In this article, we’ll break down the common reasons to sue a mortgage company, so you know what to look out for. If you believe your mortgage lender has participated in…
As a homeowner, you have legal protections under the Real Estate Settlement and Procedures Act (RESPA) that give you the right to sue your lender if they make an error in loan servicing and refuse to fix it. In this article, we will discuss what the Real Estate Settlement Procedures Act is and how you…
A judgment refers to the court’s final decision. When someone says a judgment has been made, it means that the court has decided the outcome of the case. In a foreclosure case, once a judgment is entered, your options to stop foreclosure are limited. One option to stop foreclosure after a judgment is to file…
A Small Business Administration (SBA) loan is a government-backed loan provided through private lenders to give small business owners access to funding they might not otherwise get. Business assets and a personal guarantee from the business owner back most SBA loans. This means that if the loan defaults, the business owner is held personally responsible…
VA loans offer many benefits, but they do not protect you from foreclosure. One of the most common misconceptions is that the Department of Veterans Affairs (VA) can stop a foreclosure. The VA guarantees a portion of your loan, but the loan itself is provided and serviced by a private lender. Falling behind on your…
If you’ve fallen behind on your mortgage payments, you may be facing the start of the foreclosure process. Foreclosure is the legal process a lender uses to take back a home when the borrower is behind on payments. There are two main types of foreclosure: judicial and non-judicial foreclosure. New Jersey is a judicial foreclosure…
One of the most common ways to legally stop foreclosure is by getting a loan modification. If you’re asking, can they foreclose during loan modification, the general answer is no. As long as you submit a completed application at least 37 days before your scheduled sheriff’s sale, your lender cannot foreclose on your property while…
In most cases, it is not too late to stop foreclosure until the property is sold and the redemption period has passed. Even if you’ve been evicted, there may be a pathway to get your home back, although it can be challenging. Because New Jersey follows a judicial foreclosure process, foreclosure can be a time-consuming…