New Jersey Lenders CANNOT Charge Late Fees During Foreclosure Once your lender has filed a foreclosure complaint, they can no longer charge or collect any new late fees for missed payments that were due after the complaint has been filed. By initiating foreclosure, your lender is accelerating the payment of the debt and denying you […]

During the ongoing COVID-19 situation, many New Jersey homeowners are receiving relief on their mortgage payments through mortgage forbearance. This new situation is leading to some uncertainty on a few issues, including whether or not your lender can move forward with foreclosure during the relief period. Can My Lender Pursue Foreclosure During Mortgage Forbearance? A […]

NCLC’s chart, Summary of Foreclosure Alternatives for Borrowers with COVID-19 Hardships (updated April 21, 2020), is a key resource summarizing available options for each type of mortgage loan, with links to applicable guidances, significant forbearance provisions beyond the CARES Act, and post-forbearance options. View the Full NCLC Chart Here The chart is summarized below as: […]

While many New Jersey mortgage lenders are offering mortgage forbearance due to the Coronavirus and foreclosures are paused for the time being, the NJ Foreclosure Unit has resumed granting Final Judgments in Foreclosure. If you are behind on your mortgage payments and are in danger of foreclosure once COVID-19 forbearance ends, contact the Law Office […]

What is Mortgage Forbearance? What Will Happen Afterwards? There are new state and federal programs to provide “Forbearance” on mortgage payments. However, NJ homeowners should understand what a “Forbearance” will do. A forbearance agreement is one type of short-term relief being offered by many loan servicers. The loan servicer agrees to reduce or suspend your […]