• posted: Apr. 15, 2024
• Jim Zimmermann
• debt,  bankruptcy,  assets

Chapter 7 and Chapter 13 of the Bankruptcy Code provide different ways for an individual to obtain relief from outstanding debt. The choice of one or the other is usually Read More

• posted: Mar. 15, 2024
• Jim Zimmermann
• debt,  bankruptcy,  loan,  Homeowners

Homeowners can face foreclosure of their homes for multiple reasons. They may not be able to keep up with mortgage payments due to losing their main source of income or Read More

• posted: Dec. 30, 2023
• Jim Zimmermann
• foreclosure action,  debt collection,  breach of contract

If you have fallen significantly behind on your mortgage payments in New Jersey, you might receive a notice of intent to foreclose. This advises you that unless the amount of Read More

• posted: Nov. 30, 2023
• Jim Zimmermann
• Chapter 13,  mortgage default,  principal balance,  lien-stripping

One of the most common reasons people turn to Chapter 13 bankruptcy is to prevent foreclosure due to delinquent home mortgage payments. Filing a Chapter 13 petition triggers an automatic Read More

• posted: May 15, 2023
• Jim Zimmermann
• Chapter 13,  short sale,  mortgage modification,  deed in lieu of foreclosure

New Jersey had the second-highest rate of foreclosure activity in the country in 2022, with approximately 17,000 households receiving a foreclosure notice. Foreclosures are likely to continue increasing as a Read More

• posted: Feb. 28, 2023
• Jim Zimmermann
• foreclosure,  short sale

The family home is the greatest single asset for many people, but it’s common for houses to be heavily mortgaged, putting overwhelming strain on the owners’ ability to keep up Read More

• posted: Mar. 30, 2022
• Jim Zimmermann
• Chapter 13,  foreclosure,  short sale

Homeowners who fall behind on their mortgage payments face the possibility of foreclosure — a forced sale of the property that allows the lender to recover part of the debt Read More

• posted: Oct. 08, 2021
• Jim Zimmermann
• bankruptcy,  CARES Act,  foreclosure eviction moratorium

New Jersey’s governor issued an executive order on March 19, 2020, imposing a statewide moratorium on evicting owners of homes that are amid foreclosure proceedings. The foreclosure eviction moratorium, which Read More

• posted: Aug. 10, 2019
• Jim Zimmermann
• mortgage,  loan modifications,  foreclosure

Amending the terms of a mortgage by adjusting interest rates, or by extending the period over which the mortgage will be paid, can allow a borrower to better manage financial Read More

• posted: Jun. 10, 2019
• Jim Zimmermann
• short sale

When you owe more on your home than the property is worth on the market, you may consider a short sale as a way to avoid foreclosure. This means the Read More

• posted: Apr. 10, 2019
• Jim Zimmermann
• forbearance

Under a forbearance agreement, a mortgage company reduces or halts a homeowner's monthly mortgage payments for a set period of time. The total amount owed does not change but is Read More

• posted: Feb. 10, 2019
• Jim Zimmermann
• mortgage default,  tenant,  foreclosure

If you are given notice that your landlord’s mortgagee filed for foreclosure on the house or apartment building where you live, it is important that you know your rights as Read More

• posted: Sep. 21, 2017
• Jim Zimmermann
• foreclosure,  reverse mortgage

Reverse mortgages are designed to allow you live off of the equity in your home. This type of loan pays off your mortgage, lets you live in the home "mortgage Read More

• posted: Jan. 21, 2016
• Jim Zimmermann
• loan modifications,  mortgage default

A mortgage default occurs when a homeowner fails to make a required monthly mortgage payment. The mortgage loan agreement provides various remedies to the lender. The lender can impose late Read More