Foreclosure Stages in New Jersey
Here is an overview of the stages of what an homeowner goes through in a typical foreclosure:
- Homeowner struggles with paying their mortgage
- Homeowner stops making mortgage payment (Pre-Foreclosure)
- Bank Files Lis Pendens (Foreclosure Starts)
- Homeowner has various options
- Loan Modification
- Short Sale
- Deed-in-Lieu
- Other options not discussed here
- Property goes to Sheriff Sale / Auction
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Are you in a situation where you are saying to yourself “I need to short sale my house or home in New Jersey or New York” … we can also help you review your options.
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