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The New Jersey Foreclosure Mediation Program

If you are facing foreclosure of your home, it is important to educate yourself about the New Jersey Foreclosure Mediation Program. Several government agencies have combined their efforts to find solutions to the overwhelming number of foreclosure cases in the state. The program focuses on promoting work-out and payment arrangements negotiated between the struggling borrower and his or her lender.

Struggling homeowners can make an application to the program even if a foreclosure lawsuit has already been filed. Whether you have contested the foreclosure action or you have not appeared and the lawsuit against you is currently uncontested, you can still request mediation. It is important to understand that if you mediate your case, your lender is still allowed to proceed with seeking a judgment and writ against you, but the sheriff's sale can be stayed while your mediation is pending.

If you have filed a Chapter 7 or Chapter 13 bankruptcy, you can still participate in the mediation program. This is true whether your bankruptcy case is still open, you have received your discharge, or even if your case was dismissed. In fact, the Bankruptcy Court for the District of New Jersey has entered a General Order Clarifying that Participation on in the New Jersey Judiciary Foreclosure Mediation Program Does Not Violate the Automatic Stay. The parties are not required to seek relief from the automatic stay in order to participate in the program. However, to qualify for the Foreclosure Mediation Program:

· The debtor must own and occupy a 1-3 family residential property

· The property at issue must be the debtor's primary residence

· The borrower must be the applicant for the mediation program

· The lender must seeking foreclosure of its mortgage loan

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To learn more about the New Jersey Foreclosure Mediation Program and how we can assist you in saving your home, please contact us to schedule an appointment. During your free consultation, attorneys Bruce Levitt and Shelley Slafkes will carefully explain all of your options so you can make an informed decision about how to best proceed. Contact us today at 973-323-2953 to schedule a free initial consultation with a compassionate and knowledgeable lawyer

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