Legal Question in Real Estate Law in New Jersey

Thank you for your LawGuru question.

The short answer is: probably. It depends on the terms and conditions of the loan agreement. If, under those terms and conditions, a 4 month shortfall is a "default," the lender can exercise its remedies (e.g., foreclosure). It will also depend on whether the loan agreement provides an opportunity to "cure" (i.e., fix) a default and what those opportunities are. At the same time, a lender may be willing to negotiate the matter rather than foreclosing. Please feel free to contact me ASAP so that we may explore your options and protect your legal rights. 973-921-0600.

Kindly note and remember that my response is merely a general comment on the law related to your question, and NOT legal advice or opinion. Also, your question and my response does NOT create an attorney-client relationship between us. You cannot rely upon what I have written, because I do not have all of the information that I need to advise you or render an opinion. Even simple facts you have not shared can completely change my answer. For me to give you legal advice or opinion, you would need to hire me to be your lawyer, and then we would need to discuss this in detail and go over the documents.

With best wishes,

Barry F. Gartenberg, Esq.

Please visit my website!

You need some help with this. I am not surprised that the mortgage company is not being reasonable with you, in trying to work on this. There are some very useful U.S. government plans in place that may help you. Give me a call, come in and see me, and I will assist you.

Robert F. Davies, Attorney 201 820 3460