Just because you’ve received foreclosure papers, doesn’t mean that you’re out of options. Foreclosure is a legal process that provides rights for both sides involved, which means that homeowners have as many rights during the foreclosure process as lenders do. If you’ve been recently served notice of a foreclosure, you’re probably feeling at a loss…
As a homeowner, you may be wondering what to do when you get served with foreclosure papers. Like many others, you might be tempted not to respond to the Notice of Intent (NOI), but that’s actually one of the worst things you can do. Unfortunately, many homeowners don’t know what they should do after receiving…
The 2020 pandemic harmed homeowners all over the country, making it hard for them to stay up-to-date on mortgage loans. In fact, the United States hasn’t faced a housing market like this since the Great Recession. Foreclosure filings have been on hold because of pandemic protections that stopped foreclosures from happening and allowed special forbearance…
Don’t get played. Mortgage servicers who are obligated to award CARES Act forbearance are facing what they perceive to be an existential crisis. If enough people demand their rights under the Act, the servicers will be faced with a MASSIVE annual hit because for the next year for everyone in forbearance the servicer has to…
I have been preaching for months about the crucial importance of obtaining CARES Act forbearance on your mortgage loan, if you are eligible. Here is the post explaining eligibility and how to obtain the forbearance under CARES. The CARES Act Ends in Two Weeks The problem is, the right to forbearance under The CARES Act…
Division of Consumer Affairs The Division of Consumer Affairs is part of the state government and it is intended to devote its time to protecting New Jersey consumers from all kinds of financial abuse, including foreclosure. On foreclosures, at least, they really do not do a very good job of it. Some of their advice…
The unfolding of my career has made me a witness to individual stories of emotion, challenge, and courage. This is a brief story about a family in a crisis as a result of a foreclosure case through no fault of their own. The takeaway is that even in the midst of great difficulty, we can…
How and when can mortgage servicers file foreclosure complaints right now? This video goes over the federal and state rules and regulations that are governing how and when mortgage services can prosecute their alleged rights against people in default on their homes. For government backed loans, as we explained in our last post, you cannot…
How Banks Think: Banks know how the system works, how long it takes to ‘win’ a foreclosure case … how expensive it is to litigate a defended foreclosure case. You should know this, too, which is why I created the Foreclosure Infographic. I’ve talked about this in my earlier newsletters and in several blog posts,…
The New Jersey Supreme Court just issued its second Omnibus Order … here‘s what you need to know! The New Jersey Supreme Court has issued two emergent ‘Omnibus’ Orders related to Covid 19. The second, issued today, addresses foreclosure for the first time. Previously, Today, Where the CARES Act and Governor Murphy has pretty much…