Loan Modifications for People Who Have Not Filed Tax Returns or Who Work “Off the Books” If you are unable to show documented income, you may be eligible for a mortgage loan modification. If you have not been able to get a loan modification because of working off the books or failing to file tax […]
What is the Statute of Limitations for Second Mortgages in NJ?
Statute of Limitations For Collecting on Old Second Mortgages, HELOCs and Lines of Credit in New Jersey New Jersey statute N.J.S.A. 12A:3-118(b) states that if there have not been any payments made for more than 10 years and there has been no demand for payment in 6 years, the lender cannot collect from the borrower. […]
Can I Get a CARES Act Loan Modification in NJ?
My COVID-19 Mortgage Forbearance Period is Ending. What Should I Do? Due to the COVID-19 pandemic, many struggling homeowners have received mortgage forbearance when they have been unable to make their monthly payments. Many homeowners have received their forbearance through the CARES Act, which has provided forbearances for federally backed mortgages. During the mortgage forbearance […]
NJ Mortgage Forbearance Ends June 30
COVID-19 Mortgage Forbearance is Ending June 30, 2021 On March 19, 2020, New Jersey Governor Phil Murphy issued Executive Order 106, which suspended eviction and foreclosure removals throughout the state. On March 28th, Murphy announced that financial institutions would be providing mortgage forbearance for NJ residents facing hardship due to the COVID-19 pandemic. This mortgage […]
Why Did My Lender Reject My Loan Modification?
We get many calls from clients who believed they qualified for a loan modification and spent a great deal of time and effort to apply for a loan modification, only to find out that they never qualified for a modification, and no matter what they did, they would have been denied. The loan modification application […]
Ira Metrick to Speak on NJICLE Consumer Protection Webinar on 4/9
Join Ira Metrick for a Consumer Protection Webinar on 4/9/21 Ira J. Metrick will be featured in an upcoming webinar for the New Jersey Institute for Continuing Legal Education (NJICLE). Here are important details about this informative presentation: Topic: Consumer Protection in Bankruptcy Practice – Issue Spotting that Will Get Results Date: April 9, 2021 […]
Flagstar Mortgage Data Breach
Flagstar Mortgage Data Breach We have become aware that a data breach has occurred at Flagstar Mortgage. If Flagstar has been your mortgage servicer, I wanted to reach out to you to let you know that you may get a letter from Flagstar indicating whether or not you were part of the breach. If Flagstar […]
Why is Someone Else’s Name on my Credit Report?
Why is Someone Else’s Name on my Credit Report? Credit reports can sometimes show inaccurate information. According to a study conducted by the Federal Trade Commission, about 1 in 4 people identified errors in their credit reports that might affect their credit scores. Errors on your credit report can lower your credit score, costing you […]
Evictions for Commercial Tenants are Resuming
While commercial foreclosures have continued to proceed during the COVID-19 pandemic, courts have paused issuing writs of possession and enforcing evictions, as well as other post-judgment actions. However, New Jersey courts will resume issuing writs of possession for commercial foreclosures effective February 15, 2021. Landlords can apply for an Order to Show Cause for eviction […]
UPDATE: Federally Backed Loan Foreclosures, Evictions Extended Until 1/31/2021
January 2021 Update: Extension Of Federally Backed Loan Foreclosures And Evictions Until January 31, 2021 Federally Backed Loans, specifically, Fannie Mae, Freddie Mac, the VA, FHA, and USDA have extended the moratoriums on foreclosures enacted earlier this year. Single-family homeowners with loans backed by Fannie, Freddie, or the VA are now protected from foreclosure through […]
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