Stop Foreclosures in New Jersey & New York
When a person is already struggling to make ends meet, the threat of losing
one's home through a looming foreclosure sale or even the commencement
of a foreclosure action against one's home in the near future can
result in paralyzing pressure. When this happens it is not the time to
wait or do nothing. The filing of a Chapter 7 or 13 bankruptcy petition
will automatically activate the Bankruptcy Court's automatic stay
provisions and act to stop any additional legal action from being taken
in a pending foreclosure lawsuit, including but not limited to the foreclosure
sale from taking place, as a general rule if you have fallen behind in
your mortgage payments the sooner you act the better. There are a variety
of deadlines and various remedies which are often available to debtors
facing foreclosure of their home or other real property. As a general
rule the earlier you come in for a consultation with an experienced bankruptcy
practitioner, skilled in other areas of debt relief as well, the more
options will likely be available to you, and the less stressful and expensive
the remedies are likely to cost.
Your mortgage lender probably does not want to foreclose on your home or
other real property. If offered a realistic alternative, a lender is usually
willing to work with homeowners to resolve the situation. Generally speaking,
the earlier you or preferably your experienced bankruptcy/debt relief
practitioner makes contact with the lender the better the chance you have
of being able to reach a favorable resolution. Any one of a number of
options may still be available, such as arranging a short term plan to
repay the amount in arrears, selling your home, a
short sale, Chapter 7 bankruptcy, Chapter 13 bankruptcy, applying for a
mortgage loan modification or other workable solutions. In addition to conducting a free bankruptcy
consultation, Mr. Alster will also advice prospective clients as to whether
they have a reasonable chance of saving their homes through any 1 of these
"non-bankruptcy alternatives" to filing for bankruptcy protection.
See articles in the "Bankruptcy Alternatives" section of our website for more information on these.
If for whatever reason a mortgage lender is unwilling to work out a reasonable
solution, filing for bankruptcy protection can often afford you the opportunity
to have a solution forced on your mortgage lender or servicer. As soon
as the Chapter 7 or Chapter 13 bankruptcy has been filed, an
Automatic Stay stopping all/any further action from being taken, including but not limited
foreclosure actions goes into effect. See article entitled "Primary Benefits of Filing for Bankruptcy Protection" and "The Chapter 13 Petition/Process" as well.. Our clients were filed for Chapter 13 Bankruptcy protection
are far more often than not able to catch up on their mortgage arrears
through their successful completion of a 3 to 5 year Chapter 13 plan,
which often allows them to have all of their general unsecured debt discharged
(wiped out forever). Similarly, our clients applying for a mortgage modification
are often allowed to capitalize their mortgage arrears (all past due amounts
owed) through a successful mortgage modification.
Need a lawyer for a foreclosure case in Hackensack, NJ?
Historically, mortgage lenders and their servicers are often more willing
to seriously listen to proposals coming from legal counsel than directly
from the debtors/homeowners. Mr. Alster has been representing debtors
and successfully helping them save their homes and other real properties
from foreclosure for approximately 30 years. All of these consultations
whether it be for a Chapter 13 Bankruptcy or other non-bankruptcy alternative,
such as applying for a mortgage application, will be personally conducted
by Mr. Alster.
Mr. Alster will give you sound advice as to the available remedies available
to prevent your losing your home to foreclosure.
Call the Law Offices of Marc G. Alster right away to discuss your situation. Debt relief is just a phone call away.