Finding a New Jersey Foreclosure Attorney means first understanding the foreclosure process for the state of New Jersey. A foreclosure defense attorney must be licensed to practice in the same state as your property. As foreclosure laws differ from state to state, be sure you understand the process and hire an attorney who is well versed in handling cases in New Jersey.
Like in most states, it takes about 3 months of missed payments for the bank to begin the default process. In the state of New Jersey, the lender must file a notice of intent to foreclose 33 days prior to serving the homeowner with actual foreclosure papers.
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The idea of holding a conciliation conference for a loan modification or a foreclosure case is relatively new. Because of the large amount of foreclosures in Florida, a mediation is no longer required by law. A homeowner can request a mediation if they choose. However, this can get expensive because both their lawyer and the bank's lawyer will have to meet in person at the expense of the homeowner. In order to expedite the loan modification process, many lawyers are requesting conciliation conferences via phone instead.
Finding an attorney that can help you with your loan modification is a great way to one-up the banks when trying to protect your home from foreclosure. However, you should not hire an attorney who simply does loan modifications. A licensed attorney must also provide foreclosure defense. The loan modification process alone does not protect you from foreclosure.
Foreclosure defense can usually prolong foreclosure a long time. In many cases, people will stay in their homes at least a year before a sale date is even set on their home. This means that some homeowners may want to prolong the foreclosure process while they work out a solution to keep their home, or as a means to save money before they eventually move out of the house.
