If you are facing foreclosure in New Jersey, it is advisable to contact an attorney to help you navigate the process. The foreclosure process involves a legal battle between a mortgage lender and a borrower. When the lender decides to go ahead with foreclosure, it files a lawsuit in the courts against the borrower. The lender then serves the borrower with a summons and complaint. The homeowner then has 35 days to respond to the lawsuit, known as an “answer.” The answer must admit or deny the allegations of the complaint and state defenses against the foreclosure. New Jersey foreclosure attorneys can help you in this process.
Bankruptcy Compensation Explanation
When you have fallen behind on your mortgage payments, you may face foreclosure. Foreclosure means that the lender is legally allowed to repossess your home, and you will have to vacate the premises. In some cases, the lender may pursue a deficiency judgment, which means you lose your home and owe additional money to your lender. In addition, the foreclosure process affects your credit for years to come. By hiring a New Jersey foreclosure attorney, you can prevent the foreclosure process and protect your home.
When hiring a foreclosure attorney in New Jersey, you should be aware of scams. Some companies are only out to take advantage of homeowners in a desperate situation. You should make sure to verify that the company is licensed to practice in New Jersey. Even if they offer special deals, you should do your homework before hiring them. Click here – scura.com