Menu
Call us Today to Set Up
A Free Case Evaluation
Search
Call us Today to Set Up A
Free Case Evaluation
${site.data.firmName}${SEMFirmNameAlt}
Take Control of Your Financial Future
${site.data.firmName}${SEMFirmNameAlt}
Get The Fresh Start You Deserve
973-323-2953
Se Habla EspaƑol
Contact Us
View Our Practice Areas

Posts tagged "mortgage"

Staying in Your Home With A Mortgage Loan Modification

Staying in Your Home With A Mortgage Loan Modification.jpgHomeownership is an essential element of the American Dream. There is a great amount of pride in picking out (or building) a home, raising your children there, and putting money into the house as an investment into your financial future. Unfortunately, home loans can have very long terms, and a lot can change in your life during that time.

The Consequences of Foreclosure

The Consequences of Foreclosure.jpgPurchasing a home is one of the most exciting times in a person's life. While it is a major financial investment, it represents much more than that for the security, stability, and future of homeowners and their families. Unfortunately, life is not free of hurdles or challenges, and some people find themselves unable to make their mortgage payments. Whether this is because of a bad loan, unforeseen circumstances, or changes in financial status, the ultimate result of failing to make home payments is foreclosure.

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.

Will Lil' Kim's New Jersey Mansion be Foreclosed?

Li' Kim's $3 million Alpine, New Jersey mansion faces foreclosure, proving once again that even the rich and famous can fall on hard times. Kimberly Jones, also known as Lil' Kim, has had a string of financial troubles, culminating in a 2010 foreclosure action on the property and an IRS tax lien of $127,000 this year. 

What is a Short Sale?

When a homeowner is struggling to pay his or her mortgage, it is important to consider every debt relief option. One effective option for homeowners to consider is a short sale, which involves the mortgage lender agreeing to allow the homeowner to sell the property for less than what is owed on the mortgage. A mortgage company is typically agreeable to accepting less money in order to avoid the time and expense of foreclosure. Although the amount recovered by the mortgage lender in a short sale leaves the lender "short," it also saves the company a substantial amount of money by avoiding the foreclosure process, so it is often a tempting option for mortgage lenders.

Common Foreclosure and Loan Modification Scams

People who are overwhelmed by debt are unfortunately also targets for con artists. Scammers have learned that desperate people often make rash decisions when trying to improve their financial troubles. One area where scammers prey on individuals in financial distress is by offering fraudulent foreclosure and loan modification assistance.

What is Dual Tracking in Foreclosure?

Due to the foreclosure crisis that our country has faced, the federal government and numerous state governments enacted laws aimed at prohibiting the abuses that many mortgage lenders were using including harsh variable interest rates, foreclosure rescue scams, robo-signing, dual tracking and others. This blog will focus on dual tracking.

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.

Why Loan Modifications are Better than Refinancing

If you are trying to decide whether to refinance or modify your mortgage, it is important to understand how each option works. Many homeowners are surprised to learn that they can modify their mortgage even when they are current on their payments. It isn't a common occurrence, but modifications (also called "recasts") of current mortgages have been available for years.

Our bankruptcy attorneys will help you escape debt and
face the future with optimism.

Email Us For A Response

Begin Your New
Financial Life
Today

Office Location

Levitt & Slafkes, P.C.
515 Valley Street
Suite 140
Maplewood, NJ 07040

Phone: 973-323-2953
Fax: 973-313-1240
Map & Directions

google map