Stopping Home Foreclosure
An increasing number of people in New Jersey are behind on their mortgage payments and are currently living in fear of losing their home or rental property to foreclosure. However, there are ways to stop foreclosure.
At the law offices of Andrew M. Wolfenson, Esq., P.C., in Union and Cedar Knolls, we offer a free initial consultation to discuss your situation. Lawyer Andrew Wolfenson has almost 25 years of experience helping clients in northern and central New Jersey save their homes.
Filing For Bankruptcy To Stop Foreclosure
A bankruptcy filing includes an automatic stay that will stop a home foreclosure. Chapter 13 is a form of bankruptcy protection that allows you to put your mortgage arrearages into a payment plan and pay them off over time.
Filing Chapter 13 bankruptcy may also allow you to reduce other types of debt, such as credit card bills. Attorney Andrew Wolfenson will examine your situation in order to determine whether a bankruptcy filing will be in your best interests.
Bankruptcy Alternatives To Save Your Home
Filing for bankruptcy is not the best solution for everyone. If you cannot afford to make house payments, filing for bankruptcy may only be a stopgap measure. Alternatives to filing bankruptcy include:
- Negotiating a loan mortgage modification with your lender. Examples of loan modifications are reducing interest, reducing principal and eliminating arrearages.
- Negotiating a short sale with your lender, where your bank agrees to take less than your home is worth in order to satisfy your outstanding mortgage(s) and/or to allow for sale of the property.
Learn More About Bankruptcy
Review the below links to learn more about:
Free Attorney Consultation
For sound and compassionate legal counsel when facing home foreclosure, contact us for an appointment. Your initial consultation with a lawyer is free.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.