Contact us for a
to discuss the options available to you.
We will provide the Emergency Service
required for Sheriff Sales and Foreclosures
Loan Modification or Bankruptcy?
There are several options to stop a Notice of default or Sheriff Sale foreclosure.
Some of which are a Loan modification, a Bankruptcy, a Short Sale, and a Deed in lieu of foreclosure which can include Cash for keys and a release from a personal default judgment. In a Bankruptcy YOU DON’T ALWAYS LOSE YOUR HOME! It depends on each individual’s case and circumstance as to whether or not the home can be retained. The amount of equity is one of the determining factors. A bankruptcy in most cases will eliminate all other debts and could open the possibility of obtaining a loan Modification to retain your home. If you do want to keep your home the first step in the process should be to apply for a Loan Modification. If it’s not initially possible then a bankruptcy may be the next step. Even during or after a bankruptcy a loan Modification is possible. Contact us for a free consultation to discuss the options available to you. 855-288-2100
We will explain to you the entire Short Sale process in terms of your control of the sales price and the tax liability. The Mortgage Forgiveness Debt Relief Act forgives the federal tax responsibility for the difference between what is owed to the lender and the amount the home actually sold for. This law was created to protect homeowners who are being foreclosed on and who have never refinanced by pulling out a home equity line of credit by relieving any mortgage balance shortfall.
If there is no time remaining to short Sale the home or apply for a Loan Modification and you prefer not to file for bankruptcy we will provide an eviction defense. The process is to negotiate with your lender a specific time for you to continue to occupy the home and to provide you Cash for Keys. That is when the lender provides you a payment for keeping the home in good livable order; protect it from damage or vandalism and leave it in broom clean condition on the date agreed upon when you leave.
Whether it be due to loss of job, a sudden illness, or other events beyond your control, debt problems have a way of overtaking people. Bankruptcy laws were created to provide relief and may provide a fresh start. Never be ashamed of filing for bankruptcy as it has helped a countless amount of people. Even celebrity heavyweights like Mike Tyson, Larry King and Donald Trump, got a fresh start through bankruptcy, and it may help you as well.
At Caffese Law Firm we offer a free consultation to review each individual case’s needs and explore all possible avenues to financial stability. Where filing for bankruptcy is found to be the best option, our attorneys will efficiently and effectively guide you through the process and select which chapter of the U.S. bankruptcy code can give you the needed relief.
Chapter 7 provides qualified filers with the ability to discharge debt and allows for certain property to be exempt from liquidation. Typical exemptions include a place of residence, a motor vehicle, professional tools, and proscribed health aids.
Chapter 13 offers qualified filers with the ability to restructure, discharge a portion of,
and reschedule secured debt, which can lower payments. In either situation,
a bankruptcy can mean an automatic stay (prevention or stoppage)
of the foreclosure process or sheriff sale.
Contact us at 855-288-2100 for your free consultation
to see which options are the best available for you.
115 ROUTE 46 WEST • BUILDING F • UNIT 16
MOUNTAIN LAKES, NEW JERSEY 07046
803 MAIN STREET
STROUDSBURG, PENNSYLVANIA 18360