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Foreclosure Archives

Chapter 13 can help New Jersey residents avoid foreclosures

In today's difficult financial climate, there are all sorts of reasons a New Jersey resident could encounter a seemingly hopeless situation. Exorbitant credit card interest rates, unexpected injury or illness resulting in unforeseen medical bills, the loss of a job … any of these things, or others, could mean massive amounts of debt without an obvious means of payment, and fear of losing cars, or even homes to foreclosures. This is where Chapter 13 bankruptcy can help people find relief, without having to worry about the loss of assets such as their home.

If foreclosures loom, watch out for scammers

When New Jersey homeowners are experiencing financial difficulties and losing their homes is a real threat, some may resort to deals with scammers without recognizing the dangers. Any offers to prevent foreclosures must be considered carefully before any documents are signed. The usual warning of anything that seems too good to be true is probably a scam must be heeded under these circumstances. There will always be those who take advantage of individuals with financial problems.

Imminent foreclosures may not be stopped by mortgage refinancing

Current mortgage rates are lower than they have been in many years. However, although home values are rising, many New Jersey homeowners fear impending foreclosures. Refinancing a mortgage may provide a remedy for problems with managing mortgage payments -- if the situation is not beyond salvage.

Which bankruptcy chapter can stop foreclosures?

When times are hard and debts have become overwhelming, New Jersey homeowners may want to explore the available options. The primary effort for many will likely be to prevent foreclosure. Those with concerns may learn that personal bankruptcy can stop foreclosures, but choosing the most suitable option may require professional advice and guidance.

Property owners may choose bankruptcy to stop foreclosures

When New Jersey residents experience events that jeopardize their financial stability, it may not be wise to procrastinate. When consumers stand to lose their homes, it may be appropriate to consult with an attorney. The laws related to foreclosures may differ from state to state, and gaining the relative information may be beneficial.

Which remedies are available that can prevent foreclosures?

Sometimes, during difficult times, New Jersey homeowners may find it impossible to meet their mortgage obligations. Fortunately, remedial steps can be taken. During this stressful time, all options must be researched to prevent foreclosures. The research will show that available remedies include the assistance of foreclosure prevention counselors who may negotiate with mortgage companies for leniency, government programs and personal bankruptcy for protection under the U.S. Bankruptcy Code.

Chapter 13 bankruptcies may prevent losses in foreclosures

If New Jersey homeowners default on mortgage payments, the consequences can add thousands of dollars to the outstanding amounts of their loans. Along with an adverse impact on the homeowners' credit scores, fees for late payments and other charges related to the defaults will appear on their mortgage bills. If appropriate steps are not taken, the mortgage holders may proceed with foreclosures.

Experts say that foreclosure crisis is nearly over

Although many Americans are still struggling to pay their mortgages, experts insist that the widespread foreclosure crisis is officially nearing its end. They have drawn this conclusion after witnessing repeated decreases in the number of foreclosure claims filed nationwide in regards to both monthly and annual comparisons.

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  • NACA | National Association of Consumer Advocates
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Goldman & Beslow, LLC

Goldman & Beslow, LLC is a Federal Debt Relief Agency by an Act of Congress. We have proudly assisted consumers seeking relief under the U.S. Bankruptcy Code for over 38 years.

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