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Homeowners facing foreclosure because of job losses, an illness or disability, or higher monthly payments are now receiving some help from New Jersey's Courts and other government-sponsored programs. At Kates Nussman Rapone Ellis & Farhi, LLP, we provide representation and guidance to clients who are facing foreclosure.
If a foreclosure lawsuit has been filed against you, the Courts offer a mandatory mediation program with a neutral person, who will sit down with you and your lender with the goal of negotiating better terms for your mortgage, allowing you to save your home.
Even if you've ignored the lawsuit up to now, or feel you can do nothing to stop it, you still have the mediation option up to the time that your property is listed for a Sheriff's Sale. The worst thing a homeowner facing foreclosure can do is nothing.
Over the past 12 months, there has been a 46% increase in home foreclosure filings. In September 2008 alone, the filings over the same month last year almost tripled. If you're in foreclosure and want to learn more about the mediation program, call 609-292-8470.
If you're in default of your mortgage payments or soon to be, it's important that you contact the financial institution serving your mortgage as soon as possible and explain your situation. Doing this in writing will give you a record of your attempts to resolve the problem. You may be able to negotiate a lower monthly payment or a period of forbearance to give you some time to get a new job or overcome your illness or disability.
Contact us for Help
You do not have to face foreclosure alone. For more information, contact an experienced attorney at Kates Nussman Rapone Ellis & Farhi, LLP. A member of our legal team can review your case and discuss a short sale, repayment plan or your other options for responding to a foreclosure.
Kates Nussman Rapone Ellis & Farhi, LLP
190 Moore Street, Suite 306
Hackensack, New Jersey 07601
Phone: 201-488-7211 Fax: 201-488-1210
The Hackensack lawyers of Kates Nussman Rapone Ellis & Farhi, LLP represent clients in Newark, Elizabeth, Union City, Paterson, and all of northern New Jersey, including Hoboken, Woodbridge, Wayne, Montville, Morris, Chatham, Troy Hills, Hanover, Milburn, Montclair, Jersey City, East Rutherford, North Haledon, Fairfield, Clifton, Alpine, Fair Lawn, Englewood Cliffs, Cedar Grove, Fort Lee, Weehawken, and Lodi. We serve clients in Bergen County, Hudson County, Passaic County, Sussex County, Monmouth County, Middlesex County, Union County, and Essex County.