My Second Mortgage was Discharged Through Bankruptcy. Why is My Bank Still Contacting Me? A Bankruptcy Discharge is a federal court order that erases a debt, such as a mortgage or second mortgage (Credit Line, Home Equity Line of Credit “HELOC” or Equity Loan). Any debt that is included on a Bankruptcy Discharge cannot show […]
What The End of HAMP Means for New Jersey Homeowners
The End of HAMP: What NJ Homeowners Need to Know As of December 30th, 2016, the deadline to apply for a loan modification under the Home Affordable Modification Program (HAMP) has ended. However, if you sent in an application before that date, you may still be eligible to be reviewed for a modification. In many […]
How Does an Ocean County Sheriff Sale Work?
How Does an Ocean County Sheriff Sale Work? The Sheriff Sale process in Ocean County, NJ starts when your mortgage lender obtains a Writ of Execution after getting a final judgment in a foreclosure. The following mortgage lenders are known to foreclose: Wells Fargo Bank of America Citibank Ditech Nationstar U.S. Bank Seterus Mellon Bank […]
Understanding Principal Reduction Loan Modification
Do I Qualify for Principal Reduction Loan Modification? Principal reduction loan modification, also referred to as principal forgiveness, is a form of loan modification in which your lender permanently removes or “forgives” a certain amount of your remaining loan balance. Principal reduction loan modification is uncommon, and only offered in situations where the property is […]
How to Stop Foreclosure and Save Your Home From the Sheriff Sale
A foreclosure is one of the most stressful events a homeowner can go through. It is normal to feel a wide range of emotions and have a number of questions during this process. Keep in mind that if you are facing mortgage foreclosure in the state of New Jersey, a loan modification is your best […]
Dual Tracking (12 C.F.R. §1024.41(c))
Important to Note: If you haven’t been denied for a loan modification by your current Servicer since January 10, 2014 , as long as you submit a complete loan modification application at least 37 days before a sheriff sale, your lender must review and respond to the application within 30 days. If they take longer than 30 […]
How Does a Monmouth County Sheriff Sale Begin?
How Does a Monmouth County Sheriff Sale Begin? The Monmouth County Sheriff Sale process begins when your mortgage lender obtains a final judgement in a foreclosure and a Writ of Execution. Common mortgage lenders that foreclose include: Wells Fargo Citibank Bank of America Nationstar Ditech Seterus U.S. Bank Deutsche Bank Mellon Bank JP Morgan Bayview Statebridge SLS […]
New Jersey Sheriff Sale Process
After a mortgage lender has obtained a final judgment in a foreclosure, they have the option to schedule a Sheriff Sale. If you are facing this situation, it is important to know that it will not happen overnight, as there is a specific New Jersey Sheriff Sale process that must be followed. How Will I […]
How Does a Sheriff Sale Work in NJ?
When is The Sheriff Sale and How Do I Stop It? One of the most common questions we get asked in regards to the foreclosure process is, “when is the sheriff’s sale and how do I stop it?”. Below you will find answers to some of the most common questions regarding the NJ sheriff sale […]
What is the Home Affordable Refinance Program (HARP)?
As a result of the subprime mortgage crisis, many homeowners find themselves in a difficult position when it comes to refinancing their home loan. As property values on most homes decreased following the 2006 peak, many homeowners found themselves upside down or underwater on their mortgages. In layman’s term, many people found themselves owing more […]
