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New Jersey foreclosures Archives

How Does Eviction After Foreclosure Work in NJ?

How Does Eviction After Foreclosure Work in NJ.jpgFor any homeowner, the prospect of foreclosure is a nightmare. You house is part of your American Dream, your biggest investment, and where your children sleep. Sadly, foreclosure happens a lot as people find themselves in circumstances where they are no longer able to keep up with their home payments. If you are having trouble paying your mortgage loan, or if foreclosure proceedings have already been initiated you may have questions about the foreclosure and eviction process.

When Does it Make Sense to Hand Over Your Deed?

When Does it Make Sense to Hand Over Your Deed.jpgWhen a homeowner falls behind on their mortgage payments, it is very likely that foreclosure proceedings will soon follow. Struggling to make payments and facing foreclosure is all incredibly stressful and emotionally draining. However, you do have legal rights, and it is in your interest to speak to a foreclosure defense attorney to learn your options.

Does Mortgage Fraud Impact Foreclosure?

Does Mortgage Fraud Impact Foreclosure.jpgYour home is likely the most valuable asset you own. Beyond its monetary value, your home has incredible sentimental value as it represents your hard work, the place where you have raised your children, and the roof over your family's head. This makes foreclosure a stressful and scary prospect: you are literally facing the possibility of losing your home to a financial institution.

Why There Are So Many Scams Surrounding Foreclosure--And How to Avoid Them!

Foreclosure Scam.jpgWhile finding relief from debt may be one of the most significant hurdles you will experience in adult life, serious financial duress is usually a symptom of other, larger problems. These usually arise in the form of unexpected and sometimes long-term crises like a major illness or accident that may be debilitating and cause you to miss out on work, a layoff or loss of substantial hours, a difficult (and expensive) divorce, or perhaps an escalation of debt-to include massive student loans.

How Soon Must We Notify Renters About Possible Foreclosure?

use - how soon must we.jpgIf your home is headed into foreclosure, you probably have a list of questions and concerns. Whether you live in this home or use it as investment rental property, if you are like most homeowners, it is traumatic to lose such an asset to foreclosure. If you have renters, you are likely concerned about the effect the foreclosure will have on them and what their rights are during and after the foreclosure. According to the New Jersey Foreclosure Fairness Act enacted in 2010, the new owners (whether individuals or a bank) must serve renters with documents informing them of the foreclosure sale no later than ten business days after the sale. By law, if they have a lease, the new owner must uphold the previous agreement, and must also inform the renters of new contact information and where to pay or send monthly rental payments. If they are on a month-to-month lease, renters will still usually be given 90 days to remain if there is to be an eviction upon new ownership.

Over 65 & Being Foreclosed On--What is the Best Course of Action?

Over 65 & Being Foreclosed On.jpgMost Americans dream of retiring comfortably one day. Often, that is the motivation that keeps so many of us focused on the daily work grind, commuting to work, long hours and other sacrifices. While working for the same company for 40 years and then retiring at 65 with the gold watch and a sendoff to Florida may not be in the cards for most anymore, you probably still envision a more relaxed lifestyle in those much anticipated 'golden years.'

New Jersey Homeowners: What is a Notice of Intent to Foreclose?

New Jersey Homeowners What is a Notice of Intent to Foreclose.jpgIf your home is being foreclosed on, chances are this is a financial issue that has been building for a while. While the foreclosure process is one that may drag out over a long period of time, eventually the foreclosure notices will begin to arrive. This may be an extremely stressful time for you, but it is imperative that you are educated on what happens in the foreclosure process so that you know how to move forward. Having an experienced foreclosure defense attorney on your side will be invaluable so that you know what to expect and have a good defense should that be required.

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