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 […]
Can I Get a Loan Modification While in Bankruptcy?
Avoiding Foreclosure with a Loan Modification Falling behind on mortgage payments or having your house foreclosed on is always extremely stressful and it can seem like there is little you can do to stop it. However, there are ways to relieve the pressure or temporarily halt the foreclosure. One of the best actions you can […]
I’ve Defaulted on a Step Rate Loan Modification. What Should I Do?
At the Law Firm of Ira J. Metrick, we often receive calls from homeowners who had a prior modification, but defaulted due to loss of employment, health issues or because of an increase in their modification’s interest rate. Unfortunately, defaulting on modifications is a common situation that arises when your modification has a “step rate” […]
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 […]
Understanding FHA Partial Claims
What is an FHA Modification with a Partial Claim? The Department of Housing and Urban Development (HUD) supports home ownership for many low or moderate income borrowers. It does this through the Federal Housing Administration (FHA), which offers insured mortgages for families with poor credit or financial struggles. There are several options for homeowners having […]
What is a Notice of Intent to Foreclose in New Jersey?
What is a Notice of Intent to Foreclose? If you fall behind on your mortgage payments, before a foreclosure complaint is filed, you should receive a letter from your mortgage lender, by regular and certified mail, called a Notice of Intent to Foreclose. This notice is required by the New Jersey Fair Foreclosure Act, N.J.S.A. […]
How a Bergen County Loan Modification Attorney Can Help You
Am I Eligible for a Bergen County Loan Modification? If you are facing foreclosure in Bergen County, NJ, the best way to get back on track with your payments and avoid a sheriff sale is to submit a complete loan modification application. At the Law Firm of Ira J. Metrick, we offer aggressive loan modification […]
Can I Modify My Loan If a Final Judgment has been Entered?
My Lender Has Gotten a Final Judgment of Foreclosure. Can I Still Get a Loan Modification? Many people get nervous when a Final Judgment of Foreclosure has been entered against their property. They believe that this is the end of the process, and all hope is lost. However, this is not the case. It is […]
Can a Sheriff Sale Happen if I am Being Reviewed for a Loan Modification?
We are often asked what can be done to stop a Sheriff Sale once it has been scheduled. In New Jersey, the best chance you have of staying in your home is with a loan modification, which allows you to start making payments again and avoid foreclosure. Will a Loan Modification Application Stop the Sheriff […]
Is It Too Late to Save My Home?
IT’S NOT OVER YET……….. You may be eligible for a modification even if it has been years since you made a payment; or you have been modified before; or you have filed for bankruptcy; or if you owe a lot more than the property is worth. A foreclosure is an extremely stressful situation for a […]