Purposeful Advocacy for New Jersey
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What You Need to Know About Mortgage Foreclosures in New Jersey

There are few things more frightening than the possibility of losing your home via foreclosure. Fortunately, this does not have to happen. Please continue reading and reach out to our experienced, compassionate New Jersey Foreclosure Defense attorney to learn more about how our firm can help you keep your home. Here are some of the questions you may have:

How Can I Keep My Home if I Am Facing a Foreclosure?

Foreclosures are supervised by the New Jersey Superior Court, which means that for a foreclosure to happen, your lender will have to prove to the Superior Court that it has the right to foreclose your mortgage. Fortunately, with the assistance of an experienced New Jersey foreclosure attorney on your side, you will stand a fighting chance at preventing the foreclosure from happening. Your attorney will analyze the lender’s file and ask the lender’s employees various questions about your loan, such as:

  • Can the lender provide evidence that they own the mortgage or the note?

  • Does the lender have legal grounds to file a foreclosure proceeding?

  • Can the lender prove that the loan was properly transferred?

Generally speaking, the strongest defense against foreclosures is bad record keeping. Oftentimes, an experienced foreclosure attorney can dig up major mistakes on the lender’s part, known as “rubber stamping.” This is an automatic approval of mortgages without the lender taking proper consideration. So, what does this mean for you? Of course, every situation is different, however, many individuals have been able to keep their homes for up to years without having to make any mortgage payments at all because of the lender’s errors. In cases where there are no errors, your attorney may even delay the process further, demanding the lender prove their case, giving you time to get your finances straightened out so you can continue making mortgage payments and ultimately stay in your home.

Can Filing for Bankruptcy Stop a Foreclosure on My Home?

If you cannot straighten your finances out so easily, it may be time to file for bankruptcy. If you file Chapter 13 or Chapter 7 bankruptcy, you can restructure your debts through a repayment plan that works for you. Additionally, and perhaps most importantly, filing for Chapter 13 or Chapter 7 immediately triggers an automatic stay, barring creditors from any collection activities, thus canceling the foreclosure on your home.

Contact Our Experienced New Jersey Firm

Juan C. Velasco, Esq. is a trusted attorney who concentrates on bankruptcy, family law, real estate, and estate matters who has been serving the New Jersey area for over 20 years. That is why we are confident we have what it takes to provide you with the effective legal counsel you need. If you need experienced legal counsel, please contact Velasco Law Office and we will be happy to assist you.