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244 State Hwy 94, Vernon, NJ 07462
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Experienced Attorney Handles Sussex County Foreclosure Defense and Bankruptcy

Accomplished New Jersey lawyer helps clients resolve debt and keep their homes

Sussex County can be a great place to live, but the high cost of living and other financial pressures have contributed to a rise in mortgage defaults. If bills have piled up and become unmanageable, or if you can no longer afford your mortgage payments, there are debt-relief options available. At the Law Offices of James C. Zimmermann in Vernon, we help individuals, couples and business owners in Sussex County deal with debt overburden and avoid mortgage foreclosures through bankruptcy and other remedies.

Vernon law firm skilled in mortgage modification and loan forbearance

It’s devastating to lose the home you’ve filled with so much love. We are passionate in our efforts to help clients avoid foreclosure, using one or more of the following strategies:

  • Mortgage modification — This form of revised agreement alters the amount you owe each month or the time period for repayment, allowing you to keep paying off your mortgage at a slower rate.
  • Loan forbearance — When you experience a temporary hardship, such as the loss of a job or the need for expensive medical treatment, we can negotiate with your mortgage lender to seek a pause or modification of payments for several months.
  • Short sale —This option allows you to sell your property for less than the outstanding mortgage and settle your debt. Although the mortgage holder will not be repaid in full, they may opt for this arrangement since it avoids the expense and delay of foreclosure.
  • Deed in lieu — By voluntarily transferring your property deed to the bank, you can keep a foreclosure off your credit history.

Even if your lender files for foreclosure, you may be eligible to apply to the New Jersey Judiciary Foreclosure Mediation Program, which prevents a sheriff from selling your home while you attempt to work out a payment plan with your lender.

Thorough counsel for clients in Chapter 7 bankruptcy proceedings

When debt becomes insurmountable, declaring bankruptcy might be your best option. A  bankruptcy filing results in an automatic stay that prevents creditors from pursuing litigation or making collection attempts. A Chapter 7 discharge in bankruptcy clears most of your debts, such as credit card bills and medical expenses, giving you a fresh start. Another remedy is a Chapter 13 bankruptcy, which enables you, if you have regular income, to develop a plan to repay all or part of your debts in installments to creditors over three to five years. We can discuss different debt relief options and help you decide if Chapter 7 or Chapter 13 bankruptcy is right for you.

Contact a knowledgeable Sussex County bankruptcy and foreclosure defense lawyer

If you are facing the possibility of bankruptcy or foreclosure in northern New Jersey, the Law Offices of James C. Zimmermann can provide trustworthy legal advice to protect your interests. To schedule a free initial consultation, call us at 973-764-1633 or contact us online. We have offices in Vernon, Wayne, Pompton Lakes, Hackensack and Nutley.