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 […]
Can Bankruptcy Stop an HOA Foreclosure?
Understanding HomeOwners Association (HOA) and Condominium Foreclosure In New Jersey In New Jersey, if you live in a condominium, townhome or a single family home that is part of a common interest development, you most likely have to pay dues and assessments to a condominium association (COA) or a homeowners’ association (HOA). Falling behind on […]
Am I Responsible For Bills After a Sheriff Sale?
Who Pays Taxes and Other Costs After the Sheriff Sale? 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 before they can take […]
Ira Metrick Wins FDCPA Violation Case On Behalf of Disabled NJ Veteran
Mr. Metrick recently had a published decision against a bank and law firm on behalf of a disabled New Jersey veteran for claims under the FDCPA (FLORY v. MCCABE, WEISBERG & CONWAY, LLC and FIRST ATLANTIC FEDERAL CREDIT UNION et al (3:18-cv-15522), New Jersey District Court). In their decision, the court required the bank and […]
Breaking Down The New NJ Foreclosure Laws
On Monday April 30th, Governor Phil Murphy signed a package of bills into law designed to help New Jersey homeowners facing foreclosure stay in their homes, as well as addressing other aspects of the NJ foreclosure crisis. Here is a breakdown of these new laws. We will be providing more information as it becomes available. […]
Can I Stop a NJ Sheriff Sale If I Have Equity in My Home?
My Home is Scheduled for a NJ Sheriff Sale, But I Have Equity. What Should I Do? If you have positive equity in your home that is scheduled for a sheriff sale, don’t let the sale go through before you’ve had the chance to sell it. In many cases, a judge will stay the sheriff […]
Is My NJ Loan Servicing Transfer Legal?
Understanding Loan Servicing Transfers in NJ Many homeowners making monthly payments on their mortgage are surprised to find that their loan has suddenly been sold or transferred to another servicer. You should be aware that servicing transfers are common and not a cause for concern, as long as your old and new servicer follow the […]
Breaking Down the NJ Foreclosure Process
Foreclosure can be a lengthy ordeal. While dealing with foreclosure can be stressful, it is important to understand the process and your options. The following is intended to help understand what you can expect in a foreclosure case. The NJ Foreclosure Process: Step by Step Default The foreclosure process can begin after a default of […]
What Is the Statute of Limitations on NJ Foreclosures?
Foreclosure and the Statute of Limitations Many mortgage lenders end up with a backlog of delinquent loans, and processing these can take months or even years after the borrower ceased to make payments. This means foreclosure actions on a property may be subject to a time limit known as a statute of limitations. Any legal […]
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