Updated December 2018 A Warning Regarding Loan Modification Scams With the recent increase in New Jersey foreclosures, there has been a rise in fraudulent companies claiming to offer the following: “Loss Mitigation Consulting” “Foreclosure Prevention” “Mortgage Loan Modification” Any related service where the company is offering to negotiate your loan with your lender in exchange […]
Fannie Mae & Freddie Mac Loans Bought By MTGLQ Investors
Was Your Fannie Mae or Freddie Mac Loan Bought By MTGLQ Investors? If your mortgage is owned by Fannie Mae or Freddie Mac and you have fallen behind on your mortgage payments, you may soon find that your loan has been purchased by MTGLQ Investors. In December 2017, MTGLQ purchased $1.23 Billion in non-performing loans […]
NJ Foreclosures Are Moving Fast
FORECLOSURES DON’T TAKE YEARS IN NEW JERSEY New Jersey has the unfortunate distinction of leading the nation in foreclosures. In 2017, nearly 70,000 NJ properties were involved in the foreclosure process. Based upon the large number of old foreclosure lingering in the system, the average foreclosure appears to take years. However, new foreclosure are moving […]
Is Your Mortgage Owned by Mr. Cooper, Formerly Nationstar?
Mr. Cooper, Formerly Nationstar Mortgage In August 2017, Nationstar Mortgage, one of the country’s largest non-bank mortgage lenders, announced that they were changing their name to ‘Mr. Cooper’ as part of a major rebranding effort. Nationstar/Mr. Cooper is normally a mortgage Servicer and seeks foreclosures in New Jersey on behalf of the companies that actually […]
The Equifax Data Breach – Do I Have a Case?
The Equifax Data Breach Equifax is one of the largest consumer credit reporting agencies, collecting and aggregating information on consumers and businesses across the world. On Thursday, September 7th, Equifax announced that hackers had gained access to the information of at least 143 million US customers in a massive data breach. Law firms across the […]
The NJ Foreclosure Mediation Program is Closed in Monmouth County
The NJ Courts Foreclosure Mediation Program in MONMOUTH COUNTY is CLOSED. The Court’s foreclosure Mediation program in Monmouth County is closed. Home owners who receive foreclosure complaints in Monmouth County will not be able to apply for mediation. All modification attempts must go directly through the lender. The New Jersey Judiciary had established a free […]
Important Information About Your Freddie Mac Loan Modification
Do You Have a Federal Home Loan Mortgage Corporation (Freddie Mac) Loan Modification? If your mortgage is owned by Freddie Mac and you have had a loan modification on that mortgage, you may be eligible for a new program Freddie Mac is offering starting in October 2017 that can get you a better payment plan. […]
Do You Have a Fannie Mae Loan Modification?
Important Information Regarding Your Federal National Mortgage Association (Fannie Mae) Loan Modification If you have a mortgage owned by Fannie Mae and you have had a prior loan modification, you may be able to get a better payment plan starting in October 2017. This program will apply to people who are current with their payments, […]
Stop Foreclosure on Homes Damaged by Superstorm Sandy
NEW LAW TO STOP FORECLOSURES ON SANDY DAMAGED HOMES A new statute has gone into effect regarding property that was damaged by Hurricane Sandy. This amendment to the Superstorm Sandy Bill of Rights imposes new public requirements on the Department of Community Affairs (DCA) to allow homeowners impacted by Sandy, under limited circumstances, to apply […]
What The End of HAMP Means for New Jersey Homeowners
The End of HAMP: What NJ Homeowners Need to Know As of December 30th, 2016, the deadline to apply for a loan modification under the Home Affordable Modification Program (HAMP) has ended. However, if you sent in an application before that date, you may still be eligible to be reviewed for a modification. In many […]