When a homeowner is struggling to make mortgage payments on their home in New Jersey, it may mean that foreclosure is just around the corner. Of course, this is a very hard realization for many homeowners to come to because a home is often the biggest investment that an individual will make in their lifetime. It takes years to save up for a home so the idea of losing it can be devastating. At this point, it is important to discuss all possible options with an experienced foreclosure defense attorney that can determine the best course of action in an effort to save the home from foreclosure.
One way that a foreclosure can be delayed or prevented is by filing for bankruptcy. As soon as a homeowner files for bankruptcy, they will be able to reap the benefits of an automatic stay. The automatic stay immediately stops all collection efforts by lenders. This includes putting a stop to all foreclosure actions.
Another option that the homeowner may want to pursue is to try and have their mortgage term lengthened and monthly payments lowered.
If you have questions about foreclosure defense in New Jersey, contact our firm today.
Our firm understands that so much of your future is on the line in matters of divorce, family law, bankruptcy, and estate planning. Before taking any sort of legal action, it is important to discuss your legal matter with an experienced attorney. Contact The Radol Law Firm to discuss any divorce and family law matters you may be faced with.