Foreclosure Defense Attorneys in Bergen County, NJ
Being able to buy a home is typically one of the proudest accomplishments in a person’s life. However, the idea that an individual may lose their home because they are having a hard time making mortgage payments can be devastating. When a home is in jeopardy of going into foreclosure, it is important that the homeowner consults with an experienced foreclosure defense attorney to try and save the house. The Law Offices of Kevin Conway has the experience and skill it takes to explore all legal options in an effort to avoid foreclosure. If your home is facing foreclosure, contact The Law Offices of Kevin Conway today to discuss your situation and learn how we can help.
Foreclosure Defense in New Jersey
Our firm understands how stressful it can be when an individual is facing a lawsuit from their mortgage lender. At The Law Offices of Kevin Conway, there are many ways that we can assist you in the foreclosure defense process. Some of the legal services we provide for this matter include the following:
- Serve an answer on behalf of the homeowner that allows us to provide defenses,
- Asset counterclaims to determine if the lender even owns the mortgage,
- Obtain all corresponding documentation to the mortgage,
- Force the bank to take part in a loan modification program
Can bankruptcy stop a foreclosure?
One way to stop a foreclosure in its tracks is by filing for bankruptcy. This is true even if the foreclosure proceedings are supposed to be happening that very day. The second an individual’s bankruptcy petition is filed is when the automatic stay goes into effect. The automatic stay will require that all collection and contact efforts against you stop immediately, including a foreclosure. This buys you some time to determine what the next move will be while maintaining your residence.
Loan Modifications in New Jersey
When a property owner is no longer able to make mortgage payments, they have a few options to consider. One such option is to try and arrange a loan modification. This allows the homeowner to work with the lender to make changes to their existing loan agreement so it better fits their current financial situation. This process is available during the Foreclosure Settlement Conference, which occurs before the bank can proceed to sell the property. The property owner will have to request that the bank considers this option for their situation and it will only be approved if it seems practical. In some situations, a loan modification may be possible through the Loss Mitigation Program after filing for bankruptcy.
What is the Loss Mitigation Program?
One of the options for homeowners under the Bankruptcy Code is participation in the Loss Mitigation Program. The Bankruptcy Court may allow the homeowner to request that their foreclosure case is handled through this program. The Loss Mitigation Program lets the homeowner pursue a loan modification, which forces all parties to determine whether the bank can provide a modification or if the homeowner is eligible for a government loan modification.
Contact a Bergen County Foreclosure Defense Attorney
The Law Offices of Kevin Conway has guided clients through foreclosure defense methods for decades. Our firm understands how overwhelming it can feel to be in jeopardy of losing your home and is here to provide the guidance needed to obtain the best possible solution. If you are concerned about the future of your home, contact The Law Offices of Kevin Conway today to discuss your situation.