NJ Bankruptcy Law Firms

66 East Main Street, 3rd Floor
Little Falls, NJ 07424
NJ Bankruptcy Law Office Logo (Transparent) dictating Ralph A. Ferro Jr., Esq's Law Practice

Get Foreclosure Help – Chapter 13 Bankruptcy

New Jersey Bankruptcy Lawyer!

With 30+ Years of Proven results!
"I personally meet with You and represent You!"
"I have never Lost a Chapter 7 Bankruptcy Case"
"Experience = Results"
About Ralph A. Ferro Bankruptcy Lawyer

Get Foreclosure Help – Chapter 13 Bankruptcy

Malicious and Willful injuries cannot be discharged in bankruptcy

Written and Verified by Ralph A. Ferro, Jr., Esq.

Get Foreclosure Help  – Chapter 13 Bankruptcy 

If you need mortgage foreclosure help, be sure you get the best legal advice.

As terrible as it is to lose your house to foreclosure or agree to a Short Sale, at least it is a relief to put your biggest financial headache behind you, right?

  • Wrong

Former homeowners may still be on the hook if there is a difference between what they owed on their mortgages and what the bank could sell it for at auction.  And these “deficiency judgments” are ticking time bombs that can explode years after borrowers lose their homes.

It can even happen to people who got their bank to approve them selling their home for less than it is worth (Short Sale).

Many homeowners are now in the same boat. And not just those who took out bigger loans than they could afford or who did so called “liar loans” where they didn’t have to verify their income.

Because of home prices, borrowers who always paid their mortgage but who have run into unforeseen circumstances — like unemployment or a job transfer — can no longer sell their homes for what they owe. As a result, they are being forced to short sell or foreclose.   Some are getting caught up in deficiency judgments.

Can they come after you?  If borrowers ignore the possibility of deficiencies, it could haunt them.

Get Foreclosure Help – Chapter 13 Bankruptcy

Have you met with a bankruptcy attorney to see if filing a Chapter 13 bankruptcy will give your foreclosure help?     You need to set up a free bankruptcy consult with me.

Ticking time bomb

What can be scary is that the judgments don’t have to be obtained immediately or even be a large amount. Lenders or collection agencies may wait until debtors have recovered financially before they close in.

Lenders may release property liens in order to facilitate short sales without releasing borrowers from their obligations to pay under the promissory notes. The secured debt can convert to an unsecured one after the sale.

Strategic Defaults

Sometimes lenders go after borrowers walking away from their homes if they have other assets.

If borrowers have any doubts about their risks, they should call me for a free consult for foreclosure help.

I do not favor any short-sale contracts that leave any deficiency that can be pursued.

When looking for foreclosure help, I offer a free bankruptcy consult.    A Chapter 13 Bankruptcy may be an option to keep your home.

Contact me today:   Ralph A. Ferro, Jr., Esq.  (201) 446-5904