Dubiln Packard

lawyer

by

I’m Beginning to Fall Behind On My Mortgage Payments, What Should I Do?

Fall behind on my mortgage payments new jersey lawyer foreclosureMany people struggle to make their mortgage payments, you are not alone. If you’re saying to yourself “I’m beginning to fall behind on my mortgage payments, what should I do now?” Here are some quick and powerful tips that will help you:

 

  •  To answer the question “I’m beginning to fall behind on my mortgage payments, what should I do now?,” you should begin by calling your loan servicer to see what advice they have if you are just beginning to struggle with making your mortgage payments. Your loan servicer is the company responsible for mortgage payment collection. The number to reach them is located directly on your mortgage bill.

    • Your lender will allow you to miss 3 mortgage payments before declaring your loan in default, and then they won’t accept any more mortgage payments.

  • Practice good bookkeeping, this will be important in any solution you may employ down the road if you are faced with needing to apply for a loan modification or file for bankruptcy.

    • It is especially important to have good record-keeping skills if you are self-employed, because it is harder to be approved for a loan modification if you are self-employed, particularly if your finances are not in order or easy for the bank to understand.

  • Keep all of your documents related to your home in the same place, this will make it much easier if you need to call a foreclosure lawyer in the future.

    • The lawyer will need information from you, including home value, mortgage payment, the number of missed mortgage payments, interest rate, expenses, et cetera, so it is helpful if it is all in one place and easy to find.

  • Try your best to keep up with mortgage payments, but don’t be unreasonable. Do not, I repeat, do NOT, begin using your retirement savings or 401K to make your mortgage payments or to pay household bills. This money is nearly impossible to ever replace, and the temporary relief that it provides in paying your bills is not worth the strife that depleting it causes down the road. Further, if you end up filing a bankruptcy to save your home, your retirement money is protected.

  • Research all of your options for saving your home and decide on a solution that works best for your specific situation. Don’t get yourself into a solution that is unrealistic. Usually the best solution for those who have started falling behind on mortgage payments is obtaining a loan modification.

  • Be sure that you will be able to afford the option you settle on. No matter how hard it may be, sometimes moving is the best option if you cannot afford a home-saving strategy, because entering into one that you cannot pay for will only cause more trouble.

 

One of the most important things you can do when you start to struggle making mortgage payments is to learn as much as you can about all of the options that are available. This website is designed to be a great resource for you to do just that.

by

Navigating The Foreclosure Process: Where Should I Start?

navigating the foreclosure process lawyer New Jersey1. Educate

First and foremost in navigating the foreclosure process and deciding where to start, begin to educate yourself about the process. We have a plethora of free resources on our website: blog articles about foreclosure, loan modification, bankruptcy, the sheriff sale, and many more topics; we also have educational videos, case stories and helpful webinars which mimic a conversation that you would have with a real foreclosure lawyer if you were to call one– it will go over all of your options.

To learn about how you can save your home from foreclosure, read our post: How Can I Save My Home From Foreclosure?

2. Avoid Scams

Secondly, avoid falling into traps; scams are a dime a dozen. It is highly likely that you will run into some while in the process of trying to save your home, so use your due diligence and keep an eye out for them. Many companies tout too good to be true deals. Most will take your money but don’t actually do anything to help.

3. Remain Strong

The road may get tough, but don’t give up; while the solution you find may have the wonderful end result of saving your home, sometimes the strategies can be hard to navigate, especially things like loan modification and bankruptcy. It can be a long and confusing process to get a loan modification or bankruptcy, but don’t fret, we are here to help you.

4. Decide On A Strategy

If you have just received a foreclosure complaint, you have 35 days to file an answer. To begin, decide whether or not you should file a contesting answer. From there, research what options you have to save your home. Taking all things into consideration, decide if saving your home really is the most realistic choice and the best solution. Then, put your strategy into place.

If you are interested in learning about some of the options you have:

Read our posts, What is Home Loan Modification?  and Learn About A Chapter 13 Bankruptcy

by

Webinar: How To Save Your Home From Foreclosure And What To Do If You Can’t

Watch Our Webinar : Save Your Home From Foreclosure

Our Webinar Will Answer All Of Your Questions About How To Save Your Home From Foreclosure, And What To Do If You Can’t

Our powerful Webinar about the Foreclosure Process and Loan Modification will answer all of the questions you have like:

What Is The Foreclosure Process In New Jersey?
What Is The Timeline Of Foreclosure?
How Can A Loan Modification Help Me?
What If I Can’t Get A Loan Mod?
How Could A Bankruptcy Save My Home From Foreclosure?
What Should I Do If It’s Too Late In The Game To Save My Home?
…. And So Many More!

Download Your Free “Find My Solution Worksheet”

Our Free Solution Worksheet will help you when we go over our Solution Analysis in the Webinar. Make sure to download it before viewing the Webinar by clicking the green button below.

No need to fill out the Solution Worksheet before viewing, we will help you with that!

Find MY Solution worksheet foreclosure bankruptcy loan modification find out how to save your home from foreclosure

 

Talk To Todd Now

After viewing our Webinar, schedule an appointment by clicking on this button below. Once you book an appointment, Todd will call you back at the time of your choosing for a one-on-one strategy session. Click the blue button below to schedule your appointment today.

Talk To Todd Now Todd Murphy Law New Jersey foreclosure lawyer loan modification bankruptcy find out how to save your home from foreclosure

by

Can I Apply For A Loan Modification After A Bankruptcy?

Apply for loan modification after bankruptcy Have You Filed Bankruptcy, And Are You Wondering, “Can I Apply For A Loan Modification After A Bankruptcy?”

The answer is yes. You can still apply for a loan modification after a bankruptcy. Sometimes using a bankruptcy and loan modification in combination with one another can achieve the most desirable outcome in helping you save your home from foreclosure. This is especially true if you could not get approved for a loan modification before filing for bankruptcy. It is likely that trying to get a loan modification was your first course of action, but for whatever reason, your application was denied. Then you filed for bankruptcy. The wonderful thing about bankruptcy is that once you file, you can then (re)apply for a loan modification with better chances of being approved for one.

Why Should I Apply For A Loan Modification If I Already Filed For Bankruptcy?

A bankruptcy opens up the possibility of getting a loan modification if you couldn’t obtain one the first time around. More importantly, a loan modification can adjust the terms and payments of your bankruptcy and make it more reasonable.

If you want to learn about how to get a loan modification, read our post: How To Get A Loan Modification.

Or, if you are interested in finding out how a bankruptcy works to save your home, read our post: How Does Bankruptcy Help Save My Home In Foreclosure In New Jersey?

by

Why Should I Act Fast In Applying For A Loan Modification?

loan modification act fastDon’t Wait! Why Should I Act Fast In Applying For A Loan Modification?

A fundamental mistake most people make is not to apply for a loan modification as quickly as possible.  You must act fast  in applying for a loan modification to save your home.  It becomes apparent when you understand how a loan modification works. A loan modification takes your missed payments and rolls them into your future payments; then you arrive at a new monthly payment, which is usually lower than the original amount because the loan typically has a lower interest rate and a longer term. The more missed payments, the harder it is to be approved.

You probably know that it takes many months in New Jersey for the foreclosure process to progress from Complaint to Sheriff Sale, but don’t let this time-frame let you think you can wait to apply.  Don’t Wait!

If you want to find out the 2 biggest pitfalls when trying to get a loan modification, read our post: Two Biggest Reasons People Fail To Get A Loan Modification.

So Why Should I Act Fast?

A loan modification is the best option for those looking to save their homes, it gives you the best outcome. But, the longer you wait, the more mortgage payments you miss. As a result, when your application is analyzed, the more payments you have missed makes the new monthly payments higher, and this makes it harder to be approved.

Loan modifications can take a long time to begin with, to increase your chances of getting approved for one, it is smart to get started on the process ASAP if you think you may qualify.

To find out if you qualify for a loan modification, read our post: Will I Qualify For Loan Modification?

And, if you think you qualify and want to know how loan modifications work, read our post: How To Get A Loan Modification.