A significant breach of data has occurred at Lakeview Loan Servicing, putting the security and privacy of their clients at risk. Unlike similar leaks that have plagued different companies over the years, the breach suffered by Lakeview presents a far more dire situation: as a loan servicing company, Lakeview’s databases contained a treasure trove of […]
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 […]
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 […]
Can I Apply For An Additional Stay of Sheriff’s Sale Through the HAF?
On December 8, 2021, the New Jersey Courts Announced that Eligible NJ Homeowners Can Now Apply For Additional Stay of Sheriff’s Sale The Supreme Court has authorized homeowners to request an additional stay for Sheriff’s Sales in residential foreclosures as long as they are eligible to receive relief from the Homeowner Assistance Fund (HAF) and […]
NJ Mortgage Forbearance Ends June 30
COVID-19 Mortgage Forbearance is Ending June 30, 2021 On March 19, 2020, New Jersey Governor Phil Murphy issued Executive Order 106, which suspended eviction and foreclosure removals throughout the state. On March 28th, Murphy announced that financial institutions would be providing mortgage forbearance for NJ residents facing hardship due to the COVID-19 pandemic. This mortgage […]
Flagstar Mortgage Data Breach
Flagstar Mortgage Data Breach We have become aware that a data breach has occurred at Flagstar Mortgage. If Flagstar has been your mortgage servicer, I wanted to reach out to you to let you know that you may get a letter from Flagstar indicating whether or not you were part of the breach. If Flagstar […]
UPDATE: Federally Backed Loan Foreclosures, Evictions Extended Until 1/31/2021
January 2021 Update: Extension Of Federally Backed Loan Foreclosures And Evictions Until January 31, 2021 Federally Backed Loans, specifically, Fannie Mae, Freddie Mac, the VA, FHA, and USDA have extended the moratoriums on foreclosures enacted earlier this year. Single-family homeowners with loans backed by Fannie, Freddie, or the VA are now protected from foreclosure through […]
Beware of Fake Loan Modification Companies (Updated)
Updated October 2020 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 […]
Will COVID-19 Forbearance Affect My Credit Score?
Will COVID-19 Forbearance Hurt My Credit Report? During the ongoing COVID-19 situation, many New Jersey homeowners are receiving relief on their mortgage payments and are concerned about how this might affect their credit score. If you were current on your mortgage payments at the time you received the Forbearance due to COVID-19, your lender is […]
Does NJ Mortgage Forbearance Apply to Reverse Mortgages?
Care Act Mortgage Forbearance Can Apply To Reverse Mortgages Federally Backed Mortgages are eligible for a Mortgage Forbearance under the CARES Act. Most Reverse Mortgages are “Federally Backed.” The forbearance should be an initial period of 180 days and can be for up to one (1) year if you can represent that you are experiencing […]
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