Mortgage Loan Modifications Now that HAMP is Over The best way to avoid foreclosure and stay in your home is with a loan modification. A loan modification is an agreement with your lender that allows you to get past the time when you were not making payments, and start making monthly payments again. There are […]
I Just Got Served a Foreclosure Complaint. What Do I Do?
I Received a Foreclosure Complaint. What Is My Next Step? Getting served with a foreclosure complaint is a stressful experience. The complaint will be personally served by a process server who comes to your home, or it will come by letter from the law firm representing your lender. To properly defend the foreclosure you MUST […]
Do I Have a Case for a Loan Modification Lawsuit?
Understanding Loan Modification and Your Rights as the Borrower It is important to understand your rights as a borrower in regards to loan modification. There are powerful new regulations that have been promulgated by the Consumer Finance Protection Bureau (“CFPB”) under the Real Estate Settlement Protection Act (“RESPA”) and the Truth in Lending Act (“TILA”) […]
My Bank Won’t Accept My Mortgage Payment. What Can I Do?
Stopping Foreclosure Through Reinstatement In situations where a borrower is behind on their mortgage payments, they have the option of paying back all of the arrears and getting back up to date in one payment, called a mortgage reinstatement. Reinstatements are a means of stopping a foreclosure or sheriff sale and becoming current on a […]
Why Won’t My Lender Let Me Reinstate My Mortgage Loan?
What is Mortgage Reinstatement? If a borrower is behind on their mortgage loan payments, they may be in a position to pay back all of the arrears on the loan and become current again in one payment. This is known as mortgage reinstatement, and is a method of stopping a foreclosure or sheriff sale. In […]
Beware of Fake Loan Modification Companies
A Warning Regarding Loan Modification Scams With the recent increase in New Jersey foreclosures, there has been a rise in fraudulent companies claiming to offer the following: “Loss Mitigation Consulting” “Foreclosure Prevention” “Mortgage Loan Modification” Any related service where the company is offering to negotiate your loan with your lender in exchange for upfront fees. […]
The NJ Foreclosure Mediation Program is Closed in Monmouth County
The NJ Courts Foreclosure Mediation Program in MONMOUTH COUNTY is CLOSED. The Court’s foreclosure Mediation program in Monmouth County is closed. Home owners who receive foreclosure complaints in Monmouth County will not be able to apply for mediation. All modification attempts must go directly through the lender. The New Jersey Judiciary had established a free […]
Can My Lender Collect a Deficiency Judgment After a Foreclosure?
What is a Deficiency After Foreclosure? Many houses are “underwater,” meaning that the homeowner owes more than the house is worth. When a mortgage lender forecloses on a home, the property goes to Sheriff Sale. After the Sheriff Sale, the borrower is entitled to a credit for fair market value on the amount owed. After […]
How Can I Stop a Mercer County Sheriff Sale?
How Does the Mercer County Sheriff Sale Process Start? The Sheriff Sale process in Mercer County, NJ begins when your mortgage lender obtains a Writ of Execution following a final judgement in a foreclosure. Common mortgage lenders that foreclose include: Wells Fargo Citibank Bank of America Nationstar Ditech Seterus U.S. Bank Deutsche Bank Mellon Bank […]
Is Your Loan Owned by ABFC Trust?
Loans Owned by ABFC Trust Situations sometimes arise where lenders are ordered to pay billions of dollars in fines and they can get credit for payments by granting principal reduction loan modifications, including forgiving missed payments, arrears, and principal. There are instances where lenders will buy pools of non-performing loans, including many from Fannie Mae […]
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