There Are Legal Alternatives To Foreclosure

Few things are as stressful as being underwater on your home. When it is looking like there may not be a way to make the finances work to save your home, it can be tempting to give up and let foreclosure happen.

This can have dramatic consequences to your credit score and future ability to buy a home. Do not give up without fully exploring your legal alternatives to foreclosure. You have options even if the market value of your home is less than what you owe on the mortgage.

At Weber, Fabiyan & Associates, LLC, our primary focus is on residential real estate and finding alternatives to foreclosure for homeowners. We do not practice bankruptcy law; instead, our goal as your real estate law firm is to negotiate directly with your lender and provide you options for selling your home or modifying loan terms that do not result in the devastating credit effects of foreclosure.

Get Legal Counsel As Soon As Possible

Waiting can make it more difficult to pursue options. Negotiating with your lender or bank often takes time. That is why it is important to explore alternatives as soon as you are aware that meeting monthly mortgage payments is a problem.

Think about this. If your facing foreclosure and someone came up to you and gave you a choice. On the one hand that person could give you a foreclosure which would negatively impact your credit greatly for years to come or on the other hand they could give you a settled debt for less then what is owed on your credit. Still a hit on your credit however not nearly as bad as a foreclosure or bankruptcy. Of course the answer is a no brainer. Yet most people in this situation come to us too late. Most people in this situation are embarrassed to ask for help. Don't be one of those people. Look at the big picture. Below is a list of some of the mortgage companies we have had success with short sales over the past few years. The below list is not all inclusive.

Odds are we have worked with your mortgage company. Please note that we have experience in handling short sales with one, two or even three mortgage companies in some instances. If you don't see your mortgage company on the list below call us:

1. Bank of America;

2. Nationstar (now Mr. Cooper);

3. Chase;

4. Wells Fargo

5. Citi

6. Ocwen

7. Select Portfolio Servicing (or SPS);

8. Select Lending Servicing (or SLS);

9. Real Time Solutions;

10. Financial Freedom;

11. Most of the Reverse Mortgage Lending Institutions out there;

12. Bayview;

13. Carrington;

14. Ditech;

15. PNC;

16. M&T Bank;

17. PHH Mortgage;

18. Santander;

19. TD Bank;

20. SunTrust;

21. US Bank;

22. Navy Federal Credit Union;

23. Fannie Mae;

24. Freddie Mac;

25. Indy Mac;

26. Caliber;

27. Capital One

Finally, don't be discouraged if you have liens, IRS Liens, State Tax Liens, Condo Association Liens, etc. Most situations there is a way to get it done. However if you wait too long it makes it much more difficult if not impossible to be successful. Start over. Contact us for a free consultation!

If you are behind on payments and the lender is considering foreclosure, contact us today to schedule a free 30-minute consultation at 732-639-1952 or 732-895-0109. We can discuss options and potential next steps.

Foreclosure Prevention Options

There are several alternatives to foreclosure you may wish to explore. If you want to stay in the home, you may want to negotiate loan terms with your lender. Having an attorney on your side during modification negotiations can be invaluable. We know how to communicate with banks and get answers.

We are also experienced in negotiating short sales and deeds-in-lieu of foreclosure. These alternatives involve selling your home to a third party for less than what you owe on the mortgage and giving the bank the deed to your home in exchange for becoming free of mortgage obligations, respectively.

Contact Us 24/7 To Schedule A Free 30-Minute Consultation

Because we have worked with lenders in the past, they know we are serious about getting our clients an alternative to foreclosure.

Located in Howell, New Jersey, our lawyers have successfully negotiated modifications, short sales and lieu deeds throughout New Jersey and New York. We can accommodate your schedule if you cannot make it into the office during regular business hours.