Being in foreclosure can be very difficult and draining, but if there is equity in the home, you could be entitled to “Surplus Funds” after a sheriff sale. Beware scams and scam artists who try to take large portions of these funds. These scams specifically target people who have just lost their home, or people […]
Who Takes Ownership Of A Home After Death of Parents or Divorce?
Supporting Successor in Interest Claim in an NJ Divorce Property Settlement Agreement When people get divorced, if one person wants to keep the home and be able to get a loan modification, they need to have specific language included in the divorce settlement that states only one party is the sole owner of the home. […]
Am I Entitled to Mortgage Surplus Funds? (Updated 2022)
What are Mortgage Surplus Funds? If your lender has obtained a Final Judgment of Foreclosure, they will attempt to sell your home at a Sheriff Sale and the money paid by the successful Bidder will be used to pay the lender. If the property is worth more than the amount owed to the lender, there […]
Can I Stop Foreclosure On an Inherited Home?
How to Stop Foreclosure on an Inherited Home in NJ If you inherited a home that is at risk for foreclosure or a Sheriff’s Sale, or if you are an heir or an owner of a property that is part of an Estate, you can file a motion with the Court to get time to […]
Lakeview Loan Servicing Data Breach
A significant breach of data has occurred at Lakeview Loan Servicing, putting the security and privacy of their clients at risk. Unlike similar leaks that have plagued different companies over the years, the breach suffered by Lakeview presents a far more dire situation: as a loan servicing company, Lakeview’s databases contained a treasure trove of […]
CFPB Takes Action Against Fay Servicing, LLC
As of February 8th, 2022, the Consumer Financial Protection Bureau (CFPB) took action against mortgage servicer Fay Servicing for failing to provide mortgage borrowers with the protections against foreclosure that are required by law. The Bureau found that Fay “violated the CFPB’s servicing rules by keeping borrowers in the dark about critical information about the […]
CARES Act Foreclosure Protections Ended December 31, 2021
As of December 31, 2021, the Federal Regulations preventing foreclosures for those who have federally-backed mortgages have come to an end. Formerly provided by the CARES Act, these protections allowed for: A grace period from mortgage payments No new foreclosures No foreclosure-related evictions No credit score changes due to COVID-19 relief Now that this period […]
What is a Lis Pendens in a New Jersey Foreclosure?
If you are facing foreclosure in the state of New Jersey, it is important to keep track of the steps in the process. This includes saving and responding to any foreclosure notices you receive in the mail, and being aware of any public documents your lender files against you, including a Lis Pendens. What is […]
New Jersey Tax Sale Foreclosure Timeline
What is a New Jersey Tax Sale Foreclosure? If you fail to pay your property taxes in New Jersey, the municipality will eventually hold an auction where either a third party or the municipality itself will buy the right to pay off the outstanding taxes. Once the buyer has a tax lien against your house, […]
FHA Foreclosures Are Being Filed By Three NJ Banks
Attention NJ Homeowners: FHA foreclosure complaints are now being filed in New Jersey by the following three mortgage servicing companies: Lakeview Loan Servicing LoanCare M&T Bank These are the first federally backed loan foreclosures we have seen since the start of the Covid-19 pandemic. If you have a government-backed loan serviced by one of these […]
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