What is an FHA Modification with a Partial Claim? The Department of Housing and Urban Development (HUD) supports home ownership for many low or moderate income borrowers. It does this through the Federal Housing Administration (FHA), which offers insured mortgages for families with poor credit or financial struggles. There are several options for homeowners having […]
Representing Yourself in a Foreclosure Case
If you are a Defendant in a foreclosure case in New Jersey, you have the option to represent yourself. Should you choose to go this route, it is important to realize that you must comply with NJ Court Rules. If you don’t comply with the rules, your case could end quickly. What To Expect if […]
Does Bankruptcy Entitle Me to an Automatic Stay?
IF YOU FILE 3 BANKRUPTCIES WITHIN ONE YEAR, THERE IS NO AUTOMATIC STAY AND YOU WILL NOT STOP THE FORECLOSURE What is an Automatic Stay in Bankruptcy? If your lender has obtained a final judgment in a foreclosure and your home has been scheduled for a sheriff sale, there are several options available to you […]
Can I Be Locked Out of My Home Following a Foreclosure?
Is The New Owner Allowed to Lock Me Out of My Home After Foreclosure? When the foreclosure process is over and your home has been sold to a new owner at a Sheriff Sale, you will most likely have to move. However, under New Jersey law, there are procedures the new owner must go through […]
Why Was My Foreclosed Home Bought for $100?
My Home was Sold at a Sheriff Sale For $100. What Happened? Once your mortgage lender has received a Final Judgment of Foreclosure on your home, they can schedule a Sheriff Sale. To learn more about this process, see our New Jersey Sheriff Sale Timeline. When your lender schedules the sale, they can choose to […]
Is Your Mortgage Owned by Mr. Cooper, Formerly Nationstar?
Mr. Cooper, Formerly Nationstar Mortgage In August 2017, Nationstar Mortgage, one of the country’s largest non-bank mortgage lenders, announced that they were changing their name to ‘Mr. Cooper’ as part of a major rebranding effort. Nationstar/Mr. Cooper is normally a mortgage Servicer and seeks foreclosures in New Jersey on behalf of the companies that actually […]
I Received a Fair Foreclosure Act Notice. What Should I Do?
The Right To Cure Default Pursuant To Section 6 Of The New Jersey Fair Foreclosure Act The New Jersey Fair Foreclosure Act (FFA), N.J.S.A. 2A:50-56, requires lenders to follow certain specific procedures during the foreclosure process to inform homeowners of their rights. One of these procedures is the right to “cure default” or “reinstate” the […]
Can I Stop a Reverse Mortgage Foreclosure?
What is a Reverse Mortgage? In a traditional mortgage, a homeowner borrows a sum of money from a lender to purchase or refinance a home, and makes monthly payments to the lender until the debt is paid. Once the mortgage is fully paid, the borrower owns the home outright. With a reverse mortgage, an older […]
Can a Lender Take More Money From Me After a Sheriff Sale?
CAN MY LENDER PURSUE ME FOR MONEY (DEFICIENCY) AFTER FORECLOSURE? At the end of the foreclosure process, after the lender has obtained final judgment, a Sheriff Sale will occur. Sheriff Sales take place within individual counties, and the properties are sold to the highest bidders, or are sold back to the bank for $100, if […]
What is a Notice of Intent to Foreclose in New Jersey?
What is a Notice of Intent to Foreclose? If you fall behind on your mortgage payments, before a foreclosure complaint is filed, you should receive a letter from your mortgage lender, by regular and certified mail, called a Notice of Intent to Foreclose. This notice is required by the New Jersey Fair Foreclosure Act, N.J.S.A. […]
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