Many people think that if your home is facing foreclosure, you are out of options. However, that is far from the truth. Until foreclosure is complete, your home is still yours to do with as you want. This means that even if your home is scheduled for a sheriff sale, you can still make every […]
Can My Lender Take My House Without a Sheriff Sale?
What is the Optional Foreclosure Procedure in New Jersey? WILL THE NEW ORDERS FROM THE GOVERNOR AND THE FEDERAL GOVERNMENT PROTECT ME IF THE LENDER IS TRYING THE OPTIONAL PROCEDURE? Typically, when a mortgage lender receives a Final Judgment of Foreclosure on a home in New Jersey, it is sold to the highest bidder at […]
My New Jersey Ocwen Loan Was Transferred to PHH. What Do I Do?
My Loan Was Transferred From Ocwen to PHH and My Home was Sold at Sheriff Sale. Is This Legal? We have seen scenarios recently where New Jersey homeowners had their Ocwen mortgage transferred to PHH while they were being reviewed for a loan modification and their homes were sold at a sheriff sale. In these […]
I Just Had an Occupancy Inspection. Am I Being Foreclosed On?
What is an Occupancy Inspection in New Jersey? If a homeowner falls behind on their mortgage payments, their mortgage lenders are entitled to conduct inspections to check on the condition of the home and determine whether the homeowner is still living there. Your mortgage gives them the right to take actions to “protect the collateral.” […]
What Happens to a Second Mortgage After Foreclosure in NJ?
What is a Second Mortgage? When a homeowner takes out a second loan using their house as collateral, this can be known as a credit line, equity loan, or home equity line of credit (HELOC). These loans generally utilize the equity you have in your home. However, these loans are considered “Mortgages” and they are […]
NJ Sheriff Sale Adjournments Have Changed (Updated)
Starting at the end of July 2019, NJ homeowners are now entitled to two sheriff sale adjournments of up to 30 days for $28. Read on for more details about this new law. At the End of July 2019, NJ Sheriff Sale Adjournments Changed In April 2019, Governor Phil Murphy signed a package of bills […]
New NJ Law Requires Lenders to Send Foreclosure Mediation Notice
BEWARE MISLEADING NOTICES OF INTENT TO FORECLOSE A NOTICE OF INTENT TO FORECLOSE CANNOT CLAIM THAT A FORECLOSURE HAS BEEN FILED. SENDING THE NEW JERSEY COURT MEDIATION PACKET MAY BE IMPROPER. YOU SHOULD NOT RECEIVE A PACKET OF DOCUMENTS THAT LOOKS LIKE THIS: Click here to see a full example of an incorrect Foreclosure Mediation […]
Can I Still Stop Foreclosure If I’ve Defaulted on a Loan Modification?
I Defaulted on My Modified Loan. Can I Still Stop Foreclosure? You have the right to defend a foreclosure, even if you have defaulted on a loan modification. At the Law Firm of Ira J. Metrick, we often receive calls from homeowners who had a prior loan modification, but ended up defaulting on the loan […]
Can I Be Denied a Loan Modification Due to a Title Issue in NJ?
Will a Lien or Judgment Against My Home Prevent Me From Getting a Loan Modification? New Jersey homeowners have reported that their lenders have denied or cancelled loan modifications due to alleged titles issues against their home, such as a lien or judgment like a second mortgage, equity loan, Home Owners Association (HOA) lien, or […]
What Are My Options For Stopping an FHA Foreclosure?
The Federal Housing Administration (FHA), a branch of U.S. Department of Housing and Urban Development (HUD), insures mortgages for homeowners who may not qualify for traditional mortgage due to poor credit or other financial struggles. There are several differences between FHA insured mortgages and traditional mortgages: Borrowers with FHA loans can pay a much smaller […]
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