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July 2015 Archives

New Jersey Foreclosure Deficiency Balances

Foreclosure def bal pic.jpgIf you have lost your home in a foreclosure, you may be shocked to learn that you still owe a debt to your mortgage lender! Although the real estate market is slowly recovering, most homeowners in New Jersey have borrowed more than what their home is worth. Thus, when your home is sold at a sheriff's sale, a significant deficiency balance is typically left remaining. The lender(s) that is owed the deficiency balance can file a lawsuit against you to recover this amount.

Options for Fighting a Foreclosure

fighting foreclosure pic.jpgIf you are struggling to pay your mortgage loan payments and you believe that foreclosure is in your future, don't ignore the problem. The quicker you take action, the more likely you are to obtain a positive result. Avoiding foreclosure, even by filing for bankruptcy, can help preserve your ability to rebuild your credit score and even be eligible to purchase another house in the future.

Filing Bankruptcy when you are Self-Employed

self emp pic.jpgIf you are self-employed and considering filing a Chapter 7 or Chapter 13 bankruptcy case, it is important to understand there are a few unique factors that should be considered before you file. You should confer with a knowledgeable personal bankruptcy attorney for assistance.

Common Mistakes to Avoid When Heading Into Bankruptcy

what not to do pic.pngIf you are tired of struggling financially and you are ready to do something about your debt, it may be time to consider filing for bankruptcy. By filing a Chapter 7 or Chapter 13 case, you can eliminate your debt and obtain a fresh financial start.

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