subject: North Jersey Sees A Dramatic Spike In Foreclosures [print this page] Between May 2011 and May 2012, foreclosures reportedly jumped 86 percent in North Jersey, according to RealtyTrac, a California-based foreclosure market-watch company.
Foreclosure activity is picking up in New Jersey, after being all but frozen as mortgage servicers dealt with accusations of abuses in their rush to evict homeowners, said Kathleen Lynn, in a NorthJersey.com article.
Since October 2010, when the robosigning scandal blew up, foreclosure proceedings have slowed dramatically.
Meanwhile, foreclosure rates have been increasing and the scandal has created backlog in providing foreclosure help in NJ and throughout the country.
Foreclosure lawyers can help with foreclosure, help minimize the backlog, and help get homeowners back on their feet.
The Foreclosure Law Center, P.C. offers help with loan modifications and Deed in Lieu negotiations for homeowners nationwide.
If you or someone you know is in need of foreclosure help, call us today for a free consultation. 1-888-600-5505.
Tagged Deed in Lieu, foreclosure news, help with foreclsoure, New Jersey, North Jersey, RealtyTrac, The Foreclosure Law Center
Save Your Home: Avoid Foreclosure Before its Too Late:
You are behind on your mortgage. Renting out your property could be an option to help supplement your monthly mortgage expenses, but what if renting is not a logical foreclosure help alternative for you?
Even if you dont want to keep the home, you should still try to avoid foreclosure since not only will it damage your credit but you could still owe the mortgage company a deficiency for the unpaid mortgage balance and be ineligible for a Fannie Mae mortgage for the next 7 years, said Liz Davidson in a Forbes article.
Not taking any action when your mortgage is in default is what puts you on the path to foreclosure.
Many times homeowners are unaware of the options they have and try to go about modifications on their own.
A study done by ProPublica showed that only about 20 percent of homeowners who try to go it alone in having their loan modified through their lender, has a successful outcome.
Having representation from a foreclosure lawyer can increase your chances significantly in avoiding foreclosure.
Two options in this situation are a Deed in Lieu or a Loan Modification. If you do not wish to keep the home, negotiating a Deed in Lieu of foreclosure with your lender may be the right option for you. This is a process in which you willingly give up the property to your lender and your mortgage is cancelled in exchange.
For those homeowners who wish to stay in their home, the Mortgage Forensic Audit and legal representation will provide solid foundation in your case to have the loan successfully modified.
To learn more about The Foreclosure Law Centers process, call 1-888-600-5505 today for a FREE consultation.
