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Sussex County Foreclosure Lawyer Answers Your Questions

Vernon law firm helps keep clients in their homes

When homeowners fall behind on their mortgage payments, they often find themselves at risk of foreclosure. At the Law Offices of James C. Zimmermann in Vernon, we do everything we can to help our clients keep their homes. From negotiations and mediations to foreclosure defense in New Jersey courts, attorney James C. Zimmermann is dedicated to helping clients in the Sussex County area. We know you have questions about the foreclosure process, so we have answered some questions about the foreclosure process for you:

For answers to all of your questions, schedule a free consultation with our foreclosure and bankruptcy lawyer in Vernon.

See how a persistent and honest New Jersey foreclosure attorney can help you

When you get notice from your lender that your home is in jeopardy, you need a foreclosure attorney you can trust. At the Law Offices of James C. Zimmermann, we are committed to helping clients avoid foreclosure. Call us now at 973-764-1633 or contact us online to schedule a free consultation with an accomplished Sussex County attorney.

Is the mortgage company entitled to foreclose?

When you take out a loan, you are giving the lender a security interest in your home. This means they are entitled to sell it if you stop paying. Of course, they can’t just take your home without any warning. They must go through a complicated legal process that requires time. At every step in this process, there are chances to avoid foreclosure. We help families derail this process and keep their homes.

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What are a creditor’s rights in foreclosure?

A secured creditor, such as a mortgage company, typically has the right to be repaid for any loan they give. This means they are able to foreclose on your home and sell it if you are not able to make your payments. If a foreclosure does not result in enough funds to fully pay your creditors back for a mortgage (or a second mortgage), you are responsible for the remaining debt.

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What is the mortgage mediation process?

This process allows homeowners and creditors to meet in order to negotiate a solution that avoids foreclosure. The discussions are moderated by a neutral mediator. People who enter this program may be able to keep their homes through a loan modification, forbearance or another arrangement.

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Can I stop a foreclosure through a mortgage modification?

In many cases, our clients are able to avoid foreclosure by letting us negotiate a modification with their lender. Because outstanding debts are often higher than the value of a home, foreclosure may not result in a complete return on the lender’s money. Instead, giving you more time to pay or lowering your interest rate may result in you being able to pay back the entire loan while staying in the home.

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Is it possible to stop a sheriff’s sale?

New Jersey law allows a sheriff to postpone (adjourn) the sale of a foreclosed home two times for periods of up to 14 days. A court may also postpone a sale for additional time. You can also stop a sheriff’s sale by filing Chapter 13 bankruptcy. As soon as you file, all collection activity must stop, including the foreclosure process.

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