FREE REVIEW OF Notices of Intent to Foreclose and Notices of Intent to Accelerate If you fall behind on your mortgage payments, you should receive a letter from your mortgage lender, by regular and certified mail, called a Notice of Intent to Foreclose (notice of Intent to Accelerate.) This notice is required by the New […]
Can a Bank Foreclose on a Property if the Homeowner Dies? (Updated 2023)
What Happens to a Mortgage When the Borrower Dies? When a homeowner dies, the lender can foreclosure, but the foreclosure must name the heirs, executors and administrators. When a homeowner or mortgage borrower dies, their Will normally dictates who will be in charge of their property, such as an heir, executor, or administrator. This person will […]
What Happens to a Second Mortgage After Foreclosure in NJ? (Updated 2023)
Can my Second Mortgage Lender Foreclose on my Property? Your second mortgage lender has as much right to foreclose on the property if you fall behind on payments as your original mortgage lender does. However, a second mortgage lender must pay off the first mortgage if they foreclose, so they will normally only proceed with […]
Who Takes Ownership Of A Home After Death of Parents or Divorce?
Supporting Successor in Interest Claim in an NJ Divorce Property Settlement Agreement When people get divorced, if one person wants to keep the home and be able to get a loan modification, they need to have specific language included in the divorce settlement that states only one party is the sole owner of the home. […]
Am I Entitled to Mortgage Surplus Funds? (Updated 2023)
What are Mortgage Surplus Funds? If your lender has obtained a Final Judgment of Foreclosure, they will attempt to sell your home at a Sheriff Sale and the money paid by the successful Bidder will be used to pay the lender. If the property is worth more than the amount owed to the lender, there […]
Can I Stop Foreclosure On an Inherited Home?
How to Stop Foreclosure on an Inherited Home in NJ If you inherited a home that is at risk for foreclosure or a Sheriff’s Sale, or if you are an heir or an owner of a property that is part of an Estate, you can file a motion with the Court to get time to […]
CARES Act Foreclosure Protections Ended December 31, 2021
As of December 31, 2021, the Federal Regulations preventing foreclosures for those who have federally-backed mortgages have come to an end. Formerly provided by the CARES Act, these protections allowed for: A grace period from mortgage payments No new foreclosures No foreclosure-related evictions No credit score changes due to COVID-19 relief Now that this period […]
What is a Lis Pendens in a New Jersey Foreclosure?
If you are facing foreclosure in the state of New Jersey, it is important to keep track of the steps in the process. This includes saving and responding to any foreclosure notices you receive in the mail, and being aware of any public documents your lender files against you, including a Lis Pendens. What is […]
New Jersey Tax Sale Foreclosure Timeline
What is a New Jersey Tax Sale Foreclosure? If you fail to pay your property taxes in New Jersey, the municipality will eventually hold an auction where either a third party or the municipality itself will buy the right to pay off the outstanding taxes. Once the buyer has a tax lien against your house, […]
FHA Foreclosures Are Being Filed By Three NJ Banks
Attention NJ Homeowners: FHA foreclosure complaints are now being filed in New Jersey by the following three mortgage servicing companies: Lakeview Loan Servicing LoanCare M&T Bank These are the first federally backed loan foreclosures we have seen since the start of the Covid-19 pandemic. If you have a government-backed loan serviced by one of these […]
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