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 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…
The New Jersey eviction moratorium expired on November 15, 2021. What does that mean for New Jersey homeowners who have had foreclosure judgments against them? At the start of the pandemic, Governor Murphy issued Executive Order 106 which halted all evictions in the state. That Order had the effect of also halting all foreclosure sales….
With the end of the CARES Act and the inflow of foreclosures estimated to happen throughout the end of this year and next, more and more homeowners will be searching for a solution to avoid foreclosure. Unfortunately, this crisis gives rise to schemes and scammers that try to take advantage of homeowners going through foreclosure. …
If you have received a Notice of Intent to foreclose or are already facing foreclosure then you’re probably wondering if you need a lawyer for foreclosure defense. While you can of course try to deal with your mortgage servicer and bank on your own, an experienced mortgage foreclosure attorney can greatly relieve the stress of…