Foreclosure Help That Can Give You Peace Of Mind

After the real estate boom came the mortgage crisis. As a result, millions of homeowners have been unable to pay their home loans. If you can't handle your mortgage, you should know that it may not be your fault.

Big banks took advantage of homeowners.

The loans they offered were often set up by commission-hungry brokers who took advantage of homeowners. They put people in mortgages they couldn't afford and gave them unreliable, subprime mortgages when they may actually have qualified for fixed interest rates. Often, they deliberately valued houses at inflated prices — just so they could lend more money.

If you are stuck in a mortgage that you can't afford and are worried that you may lose your home, there are options. At the Morristown, New Jersey, law office of Ast & Schmidt, P.C., we can help. We use more than 25 years of experience with bankruptcy law to help New Jersey homeowners escape debt and achieve financial freedom by declaring Chapter 7 or Chapter 13 bankruptcy, or by seeking to negotiate a mortgage modification or short sale.

We can also guide you through financial and legal alternatives that may help you stay in your home, while paying a reduced monthly payment that you can afford:

  • Home Affordable Modification Program (HAMP): This federal program works by letting troubled borrowers apply to big banks for relief on monthly mortgage payments. Banks who agree to participate in HAMP also agree to do other things to reduce borrowers' monthly payments. These range from lowering interests to extending the life of the loan.
  • New Jersey foreclosure mediation process: Foreclosure mediation is an opportunity for qualified homeowners who are in a foreclosure proceeding. The Superior Court through a process of mediation with a court-appointed neutral mediator seeks to facilitate meaningful communication between the parties to resolve the loan delinquency.

Foreclosure is a threat to many homeowners' peace of mind. But you may face other challenges besides being behind on your house payments. While the options above are available, most people have other problems besides being behind on the house itself. That's why we offer a comprehensive analysis of your entire situation and propose debt relief solutions to help you break free from your financial problems once and for all.

Contact A Morristown Foreclosure Attorney

Call Ast & Schmidt, P.C., at 973-984-8024 to schedule a free, initial consultation with an experienced bankruptcy lawyer. You may also simply complete our online contact form.

We offer flexible hours — Monday through Friday — with all meetings by appointment. Evening meetings are available. Our office is conveniently located across the street from the Morris County Mall, and we have off-street parking.