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Our Offices

  • Vernon Office

    Address

    244 State Hwy 94,
    Vernon, New Jersey 07462

    Phone

    973-764-1633

    Fax

    973-764-1153

  • Wayne Office

    Address

    73 Mountainview Blvd,
    Wayne, New Jersey 07470

    Phone

    973-764-1633

  • Pompton Lakes Office

    Address

    58 Colfax Avenue #1,
    Pompton Lakes, New Jersey 07442

    Phone

    973-764-1633

    Fax

    973-764-1153

  • Hackensack Office

    Address

    41 Main Street,
    Suite 2,
    Hackensack, New Jersey 07601

    Phone

    973-764-1633

  • Nutley Office

    Address

    345 Centre Street,
    Suite 2,
    Nutley, New Jersey 07110

    Phone

    973-764-1633

Choose a location to review

Law Offices of James C. Zimmermann locations:

Vernon
Pompton Lakes
Wayne
Nutley
Hackensack

Ratings & Reviews

Showing 4-star reviews and above
  • lawyers
    5.0/5.0

    I’ve worked with Mr.Zimmerman on two different legal issues. In both instances he was fantastic! He is extremely knowledgeable and compassionate and able to breakdown a course of action into language anyone can understand. I would highly re...
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    — Client

  • lawyers
    5.0/5.0

    I highly recommend Mr. Zimmermann as an attorny. I recently purchased an investment property and boy was he helpful. He was easily available, very clear in explaining various concepts, laws and regulations, and provided very helpful tips o...
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    — Client

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Review Us

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 fees and even file a lawsuit to take back the property, to "foreclose" the owner's interest in the property. Since lenders make their living on interest earned and not property taken back, they encourage alternatives. A lender can "modify" a loan thereby creating a new monthly payment. Usually this is done by calculating a new repayment plan, over a new extended period, incorporating the unpaid paid payments. As an incentive, lenders will usually reduce the interest rate on the loan making the new payment more affordable.

There are government programs that will "loan" a homeowner the past due payments, paying the lender directly, and tacking a mortgage onto the back end of the loan, like a second mortgage. Other lender options are for the homeowner to "short sale" where the home is sold for less than the amount owed on the loan. The lender accepts the remaining proceeds and releases the homeowner from paying the balance owed. Lastly, a lender can accept a deed transfer from the homeowner to the lender, this is known as a "Deed in Lieu of Foreclosure". A mortgage defaulted can be cured. The important thing is that a homeowner has rights and the lender may be more willing to settle than you think. I have been representing New Jersey homeowners who have these kinds of issues for 25 years. Call me today for your free consultation.