Free Guide: 5 Ways You Can Stop or Avoid Foreclosure In New Jersey

Learn how to avoid foreclosure, stop the foreclosure process, and your 5 main foreclosure avoidance options by filling out the form below.

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stop foreclosure pdf guide

After reading this simple to follow 6 page guide you’ll know:

  • How you may be able to still save your credit during your foreclosure
  • The 5 ways some banks are working with borrowers to lower payments or even sometimes eliminate payments (if you qualify)
  • Why a “Notice of Default” can limit your options (and what to do this week if your bank has already filed a Notice of Default against you)
  • The 5 options to stop a foreclosure that’s already happened

In the end, foreclosure is never fun and doesn’t always end well.

But, when you’re armed with the right information, know all of your options, and can make a well educated plan… your odds of coming out of this foreclosure situation with as little long-term damage as possible increase a lot.

Download the Free Foreclosure Guide by entering your information. We’ll email you the pdf of the guide so you can go through it at your own leisure. You’ll also receive other tips and help from our Foreclosure Avoidance team to help you make a well informed decision.

Facing foreclosure is a daunting experience for any homeowner. In New Jersey, the foreclosure process can culminate in a sheriff’s sale, where the property is auctioned to satisfy the outstanding mortgage debt. However, homeowners have several strategies at their disposal to avoid foreclosure and delay a sheriff’s sale, providing valuable time to explore alternatives. One such alternative is selling the property to a reputable home buyer like Francesco Buys Houses Fast, facilitating a swift and hassle-free sale.

Understanding the Foreclosure Process in New Jersey

In New Jersey, the foreclosure process begins when a homeowner defaults on mortgage payments. The lender then files a lawsuit, and if the court rules in favor of the lender, a writ of execution is issued, authorizing a sheriff’s sale of the property. The sheriff has 150 days from the writ of execution to auction the property. During this period, both the debtor and lender may request two stays each to delay the sale, with a fifth stay possible if requested by both parties.

Strategies to Delay a Sheriff’s Sale

  1. Requesting Adjournments: Homeowners can request up to two adjournments of the sheriff’s sale, each lasting up to 30 days. This request must be made in writing to the county sheriff before the sale date and is typically accompanied by a fee. These adjournments provide additional time to explore options such as loan modifications or selling the property.
  2. Filing for Bankruptcy: Initiating a Chapter 13 bankruptcy can halt the foreclosure process through an automatic stay, preventing the sheriff’s sale and allowing the homeowner to propose a repayment plan for mortgage arrears. It’s crucial to file before the sale date to preserve homeownership rights.
  3. Loan Modification Applications: Submitting a complete loan modification application at least 37 days prior to the sheriff’s sale obligates the lender to adjourn the sale and review the application. This can result in more manageable mortgage terms, potentially preventing foreclosure.

Option 4: Selling Your Home to Avoid Foreclosure

If retaining the property isn’t feasible, selling the home can be a viable solution to avoid foreclosure. Engaging with a trusted home buyer like Francesco Buys Houses Fast offers several advantages:

  • Quick Cash Offers: Francesco Buys Houses Fast provides fair cash offers within 24 hours, enabling homeowners to expedite the sale process and settle outstanding debts promptly. Get your no-obligation, cash offer free today by clicking here.
  • Flexible Closing Dates: Homeowners (YOU) can choose their preferred closing date, allowing for a seamless transition without the pressure of immediate relocation. We can even help find you the next place to stay.
  • As-Is Sales – No repairs needed by you! We buy properties in their current condition, eliminating the need for you to spend more money on repairs, cleaning out the property, or getting things up to code.
  • Avoid Commissions: Since we are a direct buyer, there is no need to pay real estate commissions or additional closing costs when you don’t have to. Why search for a buyer, when there’s one right here? Keep more of your money with out Equity Protection Program!

The Process with Francesco Buys Houses Fast

Selling your home to Francesco Buys Houses Fast is straightforward:

  1. Contact: Call us at 856-544-2514 or fill out the form on our website.
  2. Offer: Receive a no-obligation cash offer within 24 hours, tailored to the property’s condition and market value.
  3. Decision: Review the offer and choose a closing date that aligns with your timeline.
  4. Closure: Complete the sale, receive payment, and resolve any outstanding mortgage obligations, effectively avoiding foreclosure.

Conclusion

Navigating the threat of foreclosure requires prompt action and informed decision-making. By understanding the available options to delay a sheriff’s sale and considering a direct sale to a reputable buyer like Francesco Buys Houses Fast, New Jersey homeowners can mitigate financial distress and move forward with confidence.

Call Today:
856-544-2514