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Posts tagged "Foreclosure"

How long does foreclosure take?

When homeowners can no longer make mortgage payments, foreclosure is a very real possibility. The entire process can take a bit of time to conclude, which provides the homeowners with many opportunities to catch up on missed payments and retain ownership of the property. The Balance explains what you can expect from the foreclosure process and what you can do to stop it. 

How can I avoid common foreclosure scams?

People will do just about anything to avoid their home being foreclosed upon. This leaves them vulnerable to common foreclosure scams, which prey upon a person's fervent desire to retain their home. Foreclosure scams come in all shapes and sizes, which makes it difficult for homeowners to identify them when they lack the proper information. PennyMac explains a few of the more common scams and how they work so you can be sure to avoid them. 

Tips to avoid foreclosure

Homeownership is part of the American Dream for many New Jersey residents. That dream is often threatened when making mortgage payments is no longer possible. If you are struggling with making the monthly amount, you may believe a short sale or bankruptcy are your only options. At William H. Oliver, Jr. & Associates, we often help clients keep their home out of foreclosure.

How to slow or avoid foreclosure

Purchasing a home in New Jersey is an exciting experience. Unfortunately, medical debt, loss of employment and other changes to a person’s financial status can lead to foreclosure. Many people facing a foreclosure may believe their banks are eager to evict them from their homes and seize the property. However, banks often stand to lose more from taking this route than trying to work something out with the homeowner. Because of this, if creditors are calling, it may be beneficial to take the call.

Can you prevent foreclosure from destroying your future?

If you are facing a potential foreclosure on your property in New Jersey, it can be unsettling to think about your future and how this decision may impact your ability to get credit in the future. While foreclosure undoubtedly has consequences, you have the ability to overcome its effects by carefully planning your next steps and taking precautions to prevent similar risks from happening in the future. 

Understanding the consequences of your foreclosure

Owning a home in New Jersey is certainly something to be proud of, but there may be times when the stress of homeownership could have you grasping for solutions to stay financially afloat. When weighing your options for financing your home when you have run into a cash flow issue, a foreclosure may be the most suitable option. At William H. Oliver, Jr. & Associates, we understand how a foreclosure may affect people and their ability to secure financing in the future. 

Am I at risk of foreclosure?

Losing your home to foreclosure can be a devastating prospect. In some cases, there may be signs indicating a foreclosure is on the horizon and recognizing these signs will help develop a plan and potentially prevent the process from occurring. The U.S. Department of Housing and Urban Development offers the following tips, so you can identify signs of trouble before this situation becomes much worse.

How lien stripping may save your home from foreclosure

Sometimes, having a good job and a solid income is not enough to keep a person in New Jersey afloat financially. In fact, if you are struggling to pay all your bills every month and still have enough left for the necessities of life, you are not alone. We at William H. Oliver, Jr. & Associates often advise our clients about how lien stripping may be the solution to their debt problems.

How long can I stay in my house after foreclosure?

When you fall behind on your house payments, your lender will start the foreclosure process. While you will not have to leave right away, you should be aware that eventually you will likely be forced out of the home. It is best to know ahead of time how long you will have so you can find a new place to live and be ready when the time comes to leave.

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