If anyone tells you that the foreclosure problem facing the USA is over, do not believe them. In June of 2016, over 3,000 lis pendens were filed. A lis pendens is basically a legal notice that foreclosure action is pending on a property. That means in the State of New Jersey roughly 100 people a day are facing new foreclosure actions. Foreclosures may be down from last year, but that is cold comfort to the 100 people a day that face losing their home.
On the bright side, not every pending foreclosure action results in a home being lost to foreclosure. People have the option to refinance, sell their home, or even turn over the property to the bank before being foreclosed upon. All of these may sound like long shots for someone who is 6 months behind on payments.
Many banks/ lenders participate in HAMP (Home Affordable Modification Program), MHA (Making Home Affordable), or HAFA (Home Affordable Foreclosure Alternatives) programs to allow underwater borrows to refinance their homes. If you need help with any of these programs or know someone who does, you should contact us today to review your situation.
If you have had your property listed for years, and cannot get what you owe on it, you may want to consider approaching the bank about a short sale. We can help with this process. If you or a friend need a buyer, we have multiple people that are willing to pay cash so there is no worry about pre-qualifying, and banks will also provide incentives for you move out in some cases.
In Hudson County New Jersey there are currently over 800 properties scheduled to be auctioned off by the Hudson County Sheriff. Over 200 are scheduled for auction on July 7th, 2016 at the Hudson County Court House.
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Data based on Hudson County Sheriff website – Accuracy not guaranteed – Perform your own lien search, or hire an attorney – Do not rely solely on this data
If you are on the above list or know someone that needs to stop a Sheriff Sale, we can help. There are several ways to postpone a Sheriff’s sale. If July 7th, works out be anything like the last scheduled sheriff sale in Hudson county out of the 200+ properties scheduled for sale, less than ½ were actually auctioned off. That means that over ½ the people with properties scheduled for sale were able to avoid having their properties sold.
If you need any information, feel free to call us at 1-973-200-1111 or email us at info@focusedlaw.com
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