Mortgage

New Jersey Attorney Details The Bankruptcy Process When Losing A House This blog pertains to individuals who are either unable to, or do not wish to, save their house from foreclosure.  A person may be unable to save their house, due to a loan modification denial or a substantial reduction in … [Read more...] about The New Jersey Bankruptcy Process When Losing A House

Bankruptcy Lawyer Explains Valuation Process For Mortgage Modification In A New Jersey Bankruptcy Case There are other blogs explaining when and how a mortgage may be modified in a New Jersey bankruptcy case. This blog explains the house valuation and associated issues. A mortgage may be modified … [Read more...] about What is the Real Estate Value Process for Modifying a Mortgage In a New Jersey Bankruptcy Case

Lawyer In New Jersey Explains When Mortgages Can Be Modified In Bankruptcy Case The bankruptcy code section permitting a mortgage modification in a chapter 13 is as follows: 11 U.S.C. Section 1322 (b)(2) "...modify the rights of holders of secured claims, other than a claim secured only by a … [Read more...] about When Can A Mortgage Be Modified Or Eliminated in a New Jersey Bankruptcy Case.

The foreclosure process in New Jersey is very long compared to other states. Some time ago, the New Jersey supreme court ceased all foreclosure actions for a period of about one year. However, the one year stay was terminated and the court's, again, permitted foreclosures to commence and continue. … [Read more...] about How Long Can I wait To File And Still Save My House From Foreclosure

What happens if someone defaults on a mortgage after the loan was modified? A person that defaults on a loan modification may be able to obtain a second loan modification. This blog assumes that the person is unable to obtain a second loan modification after defaulting on the first loan … [Read more...] about Save Your House After Loan Modification Default in NJ

A bankruptcy debtor may possibly eliminate a second and subsequent mortgage, while keeping their house, under certain circumstances. In the district of New Jersey, this may be accomplished in a chapter 13, not a chapter 7. The main criteria is that the fair market value of the real estate is less … [Read more...] about Keep House and Eliminate Mortgages With Chapter 13 Bankruptcy In New Jersey