https://www.scura.com/blog/how-to-stop-foreclosure-in-nj-know-your-options
Some homeowners in New Jersey might encounter issues with their mortgage loans. While in some cases these issues can quickly be corrected, a problematic mortgage loan could lead to a foreclosure. Our law firm understands that facing the possibility of losing a home to financial problems is a major event that needs to be addressed immediately and carefully. New Jersey homeowners should be aware of their rights and options so they can navigate the process to stop foreclosure.
Foreclosure In New Jersey
While many are aware of foreclosures that some homeowners face in New Jersey and elsewhere, they may not understand how a problematic mortgage loan could lead to a home foreclosure. Our attorneys are well versed in this area of law and have helped homeowners facing foreclosure understand their situation and how to navigate it.
When a loan has features such as a balloon payment, interest rates that change along with the fluxing prime interest rates or interest-only payments, this could cause the homeowner to face financial trouble. These features could cause increasing monthly payments, increasing interest rates or leave the homeowner with the same principal amount due even after years of payments.
Help From a New Jersey Foreclosure Attorney
Our law firm may be able to help point out these features in a mortgage loan, and we have helped homeowners address these issues. Whether a mortgage lender acted unfairly or a homeowner wants to defend him or herself against a foreclosure, our attorneys have helped many people in these situations devise a plan. This could result in a loan modification, a short sale or even filing for bankruptcy. No matter what method a homeowner decides to initiate to address this financial problem, they should be aware of the costs and benefits of each option.
Those facing foreclosure or are dealing with issues regarding their mortgage should become knowledgeable about their situation. Our law firm is experienced with New Jersey Foreclosure, contact us to get your questions answered with a free consultation.
