Don't Lose Your House

We Help Find Alternative Solutions To Foreclosure

The housing market has changed dramatically in recent years, and many individual homeowners have faced a heavy financial burden. Even relatively minor issues, such as a single elapsed mortgage payment, have pushed many homes into foreclosure.

The East Brunswick foreclosure defense attorneys at Lefkowitz Law Office have helped individuals throughout New Jersey find strategic solutions to foreclosure issues. We take the time to work with each of our clients on an individual basis, discussing their financial struggles thoroughly, and finding opportunities to save them from drastic financial hardship.

Middlesex County Attorneys Handling Short Sales And More

We have found that lending institutions often fail to offer foreclosure alternatives to borrowers — alternatives that could be favorable for both debtors and creditors. We are able to find opportunities for negotiation with creditors and assert borrower's rights to the fullest extent of the law.

We use foreclosure defense options such as:

  • Deed in lieu of foreclosure: This involves the homeowner transferring home ownership to the lending institution. In return, the lending institution agrees to release the homeowner of debt obligations. This typically is only favorable if the lender agrees not to file a lawsuit against the homeowner for the difference between the loan value and the amount of the sale price of the home.
  • Loan modifications: Banks typically lose money on foreclosed homes. The homes are sold for less than the value of the principal balance and there are often costs associated with the sale. Loan modifications such as the reduction of an interest rate, extension of repayment periods, or a reduction in the principal amount due can make mortgage payments more manageable for borrowers and help lenders recover more of what they are owed.
  • Short sales: When a bank agrees to sell a home for less than the loan value while agreeing that the sale of the home satisfies the loan in full, you have a short sale. The homeowner's assets and income may be taken into account in some short sales as banks may insist the homeowner pay a certain amount before the short sale is approved.

Learn More About How We Can Help

Each of these options involves serious, complex financial considerations. It is best to discuss them with an experienced foreclosure defense lawyer before moving forward. Reach Lefkowitz Law Office online or by telephone at 732-201-3902. We offer free half-hour consultations and flexible appointments as necessary.