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 (201) 878-4630 right away to discuss your situation. Debt relief is just a phone call away.