Foreclosure Defense Lawyer Near Me in NJ

If you are facing the threat of home foreclosure in NJ, you should seek the assistance of a New Jersey foreclosure defense attorney as soon as possible. An experienced foreclosure attorney can help mortgage borrowers that are facing foreclosure to understand the process and to determine whether the lender engaged in fraudulent practices. Attorneys can also help mortgage borrowers that are facing foreclosure by letting them know about federal and New Jersey state laws that are intended to prevent lenders from abusing or exploiting borrowers.

The skilled and experienced attorneys that work with Young Marr & Associates are prepared to help New Jersey residents that are dealing with the possibility of foreclosure. These NJ foreclosure defense lawyers can put their skill and expertise to work to mitigate losses and protect the rights of clients. Get in touch with Young Marr & Associates today by calling (866) 781-4058.

The Process of Foreclosure in New Jersey

When a homeowner fails to make payments on their mortgage for three months, the foreclosure process will begin. The mortgage borrower will be made aware of the start of the process when they receive a Notice of Intention to Foreclose. After the homeowner receives this notice, they will have 30 days to either respond or pay the past-due amount that they owe.

After 30 days, the lender will file a foreclosure complaint against the mortgage borrower with the New Jersey Office of Foreclosure; after this has been filed, the mortgage borrower will be the “defendant” and the lender will be the “plaintiff.” Notice of the complaint will be served to the borrower in person. Along with the notice of foreclosure, they will be served a summons to appear in court for the foreclosure hearing, as well as information about how they can participate in a foreclosure mediation program.

The mortgage borrower has 35 days to respond to the foreclosure complaint. The reply that they file must be an admittance or denial of the claims made in the foreclosure complaint. If the mortgage borrower does not deny the claims made against them, then the foreclosed property may be sold. The sale will begin when the homeowner receives notice of the sale of the property, which they will have 10 days to respond to.

Defenses for Foreclosure in NJ

New Jersey residents should be aware of both federal and state laws that help protect homeowners from unfair practices, prepare for loan modifications, and enter into payment plans to pay off mortgages that they fall behind on.

New Jersey’s borrower protections include The Fair Foreclosure Act; The Consumer Fraud Act; and the Truth in Consumer Contacts, Warranty, and Notice Act. The Fair Foreclosure Act states the rules that lenders must follow before and during the foreclosure process. The Consumer Fraud Act protects consumers from being victims of fraudulent actions made by lenders. Finally, the Truth in Consumer Contacts, Warranty, and Notice Act prohibits lenders from violating borrowers’ legal rights.

The Truth in Lending Act and The Real Estate Settlement Procedures Act are both federal laws that protect mortgage borrowers during foreclosure. The Real Estate Settlement Procedures Act, which is also known as RESPA, requires lenders to disclose information during applications for mortgage loans. The Truth in Lending Act, which is also known as TILA or “Regulation Z,” states that consumers are entitled to information about bad credit.

Mortgage borrowers that are facing foreclosure should be aware of the defenses they may be able to use against the complaint. When mortgage borrowers respond to a foreclosure complaint, they have the opportunity to address any unfair practices on the part of the lender. If the homeowner cannot demonstrate that the foreclosure is the result of unfair lending practices, then the case will move to a superior court and will be assigned a judge and a date for trial. Homeowners facing foreclosure are able to use these possible defenses to prevent the foreclosure of their homes:

  • Servicing violations – If a lender violates servicing and modification requirements, they will not be able to foreclose on the home owned by the borrower.
  • Truth in lending violations – Lenders that violate truth in lending laws will not only be unable to foreclose on homes owned by mortgage borrowers but may be liable to pay damages to the borrower.
  • Lender fraud – According the New Jersey Consumer Fraud Act, lenders that commit fraud while issuing loans to mortgage borrowers may be liable to pay damages and attorney fees to borrowers that were victims of the fraud.
  • Lack-of-note – Some lenders are not authorized to foreclose on homes. For example, if a loan is transferred to a new servicer, then the original loan servicer will be disqualified from pursuing foreclosure on the home.

Homeowners that are dealing with the possibility of foreclosure should seek an experienced foreclosure attorney to help them understand the laws that are meant to protect them as well as the ways that they can prevent the foreclosure from happening.

Contact Our NJ Foreclosure Defense Lawyers

If you are a New Jersey resident who is dealing with the possibility of foreclosure on your home, seek the assistance of an NJ foreclosure defense attorney immediately. The foreclosure defense attorneys at Young Marr & Associates can help mortgage borrowers make informed choices about their options regarding foreclosure. Call (866) 781-4058 to learn more about how you can avoid foreclosure with the help of a skilled attorney.