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 […]
Am I Entitled to Mortgage Surplus Funds?
What are Mortgage Surplus Funds? If your lender has obtained a Final Judgment of Foreclosure, they will attempt to sell your home in a Sheriff Sale for an amount that will cover what you owe on the mortgage, plus any costs and fees, as long as the costs and fees were added to the Final […]
I Am Facing An Ejectment Action in Monmouth County. What Do I Do?
Can I be Removed from my Home After a Monmouth County Sheriff Sale in a Foreclosure by an Order to Show Cause for Ejectment? Ejectment of a homeowner after a sheriff sale can be contrary to Equity and Law and may violate Due Process Rights. Once your home has been sold at a sheriff sale […]
The New Owner Of My House Is Claiming I Owe Money. What Do I Do?
I Am Facing an Ejectment Action From my Foreclosed Home. What Are My Rights? After the foreclosure process, when your home has been sold to a new owner at a sheriff sale, it is only a matter of time before you have to move. However, you still have rights that must be observed by the […]
What You Need to Know about VA Mortgages
What are VA Mortgages? Veterans Affairs mortgages, also known as VA Home Loans, help veterans get financing to buy a home through loans that are easier to qualify for than traditional mortgages. Some important information about VA Mortgages: They are available to all active military members, military veterans, and spouses of military members who died […]
Beware of Hard Money Lenders
What Are Hard Money Lenders? Hard money lenders offer an alternative way of getting loans, including those you would use to pay off your mortgage. They differ from traditional mortgage lenders in that the loans come from private individuals or investors based on the property you are using as collateral (in this case, your home). […]
Does a Chapter 7 Bankruptcy Stop Foreclosure?
Chapter 7 Bankruptcy and Foreclosure It is a common misconception that if you file for Chapter 7 bankruptcy, your foreclosure goes away forever. While it does temporarily halt all foreclosure proceedings, it is not a permanent solution. Your lender will eventually be able to foreclose on your property. What Happens To My Mortgage When I […]
Can Someone Other Than My Lender Foreclose on My Home?
Foreclosing Based Upon An Assignment of Mortgage? Sometimes we receive calls from homeowners who have been mailed a foreclosure complaint from a company they do not recognize. This usually means that your loan has been sold or the mortgage has been assigned. This type of mortgage transfer is legal, but the new company cannot foreclosure […]
Can a Short Payoff Stop a Foreclosure?
What is a Short Payoff? At the law office of Ira J. Metrick, we help homeowners stop foreclosures in a variety of ways. A relatively new method for resolving a foreclosure is a short payoff. This occurs when a lender allows the homeowner to fully pay off the mortgage for a reduced amount, for example […]
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