A foreclosure lawsuit can be brought against a homeowner by
- a bank for a past due mortgage loan
- a tax lien investor for past due property taxes
- a condo or homeowners association for past due association fees
The foreclosure process in NJ is moving faster right now than it has for over a decade. Act Now. Don’t Wait. After a foreclosure lawsuit has been filed, if you do nothing, the plaintiff will sell or take your property—guaranteed.
Never Pay Upfront Fees For Foreclosure Assistance-It’s Probably A Scam
Our foreclosure assistance services are free to all our clients. Send us an email at email@example.com and ask us any question you have or request an appointment to speak with us directly.
Q: How long does it take before they take my home after a foreclosure lawsuit has been filed?
A: 4-5 months or more depending on your specific situation. Send us an email at firstname.lastname@example.org and we can look up your foreclosure case and give you an estimate of how much time you have before they take your property.
“I didn’t know who to trust. We got calls from so many people. When I met Gerald and he explained the situation to me, I could tell he really knew what he was doing and then I checked and saw that he is a respected authority featured on TV.” ~Maria Martin| Union, New Jersey
4 Dangers Homeowners Facing Foreclosure Should Watch Out For
- Beware of anyone who asks for money upfront to help you with a foreclosure. Never pay upfront fees for a loan modification regardless of whether it’s being offered by a bankruptcy attorney, a forensic loan audit company or a predatory lender.
- Promises of specific results are a red flag that you’re dealing with a shady, predatory company, attorney or individual. You cannot guarantee what you cannot control-if someone guarantees you an outcome, they either don’t know what they’re doing or they’re not telling you the truth.
- Banks sometimes use a temporary rate reduction or ‘trial modification’ as a bait-and-switch tactic in order to line their pockets by convincing you to make up to six months of additional mortgage payments before they deny your loan modification and continue with a foreclosure proceeding. Most people need a more permanent solution to financial problems and temporary help often just drains any money you still have. A mortgage loan workout has to be sustainable over the long run to really be useful to a homeowner facing foreclosure.
- Never let your bank pressure you to take money out of your retirement account to pay your mortgage. Registered retirement accounts are off limits to general creditors—banks know this but figure you may not know! Knowledge is power.
We have a free loan modification that will help guide you through the process and prevent you from making mistakes. Email us at email@example.com, request a free mortgage loan modification guide and we’ll send it to you right away!
Q: If I already got a mortgage loan modification, can I get another one?
A: It is possible, however, some lenders limit loan modifications to one per 2 year period. It’s better to try again than to do nothing. Unfortunately, time is not on your side after a foreclosure lawsuit has been filed against you. The longer you wait the lower your chances are of getting your loan modification application approved before you get foreclosed on. If you want to modify your mortgage loan, fill out and send your loan modification application to your lender or mortgage servicer as soon as possible!
If you need help communicating with your mortgage lender or mortgage servicing company, we can do a 3 way call with you and your lender to explore your options–just send us an email at firstname.lastname@example.org and we’ll set up a time to call your lender together!
“I just wanted to reach out and thank you for all of your advice. My sister and I managed to negotiate the loan modification with Shellpoint. You were a breath of fresh air during these troubling times. Your willingness to reach out and assist someone you never even knew shows that there are still some good people in the world. Happy holidays to you and yours. My Christmas has already been made!!!” ~Morgan Faulkner | Newark, New Jersey
“Finally the bank called me and said that my loan modification was approved! I thank you so much for your help it really meant a lot to me…I really appreciate you. Thank you Thank you Thank you” ~Camille Perry | Newark, New Jersey
“Our loan modification was finalized. Got all the documents. I even got legal documents stating that the foreclosure proceedings were canceled. Our rate went from a 4.75 to a 3.4 and our mortgage payment went down almost $200 a month. So all is good. Thank you so much.” ~Crystal | Totowa, New Jersey
“I appreciate everything you were able to do with my lender, I am immensely grateful to you.” ~Carol Cunningham| West Orange, New Jersey
“Good afternoon, Gerald, I appreciate you for staying consistent and helping me with my mortgage lender for the last few months. The free guide you gave me helped us figure out the right path to take.” ~Stephen Brunson | Plainfield, New Jersey
“Sir Gerald Lucas..my Knight who rescued me from the prison of Rushmore. At last I feel freedom to stop worrying about keeping myself financially afloat. You came into my life and gave me peace of mind. I will always remember your kindness and generous spirit. You are daily in my thoughts and prayers. May your gratuitous services to me be The Blessing it was,and may you be rewarded with many Blessings in return. I prayed to God for help and He sent YOU. Much love” ~Mary Elizabeth Robinson | Wilmington, Delaware
The foreclosure process moves much faster when caused by outstanding property tax liens than when it’s caused by a past due mortgage. Consumer protections that safeguard mortgage borrowers don’t extend to homeowners with outstanding property taxes. The tax lienholder only has to notify the property owners on record, if you are the next of kin, they don’t have to notify you at all. Tax lien foreclosure is all paperwork, there’s no sheriff sale and they can take your home in as little as 4 months after a foreclosure lawsuit has been filed!
Q: Can I pay part of the outstanding property tax lien or apply for a payment plan?
A: No, tax liens must be paid in full, partial payments or payment plans are not an option.
Q: If I can’t pay both, should I pay my property tax lien or my current property taxes due?
A: If you have some money, it’s smarter to pay off your outstanding property tax lien rather than to pay your current property taxes, because the property tax lien if left unpaid will quickly result in you losing your home to foreclosure!
Q: What’s the most dangerous thing you can do when you have a property tax lien?
A: Nothing, If you ignore a property tax lien, you will lose your property to foreclosure.
“I really didn’t think I had any options when I received the foreclosure notice. When I got my reverse mortgage, they didn’t tell me that I could lose my home just for being late paying my property taxes. Boy am I glad I reached out to Performance Property. They saved my home equity from foreclosure!” ~Mary| Leonia, New Jersey
Q: Can the condo association really foreclose on my home?
A: Yes, a condo or homeowner association can foreclose on your home like a bank or a property tax lien holder if you have unpaid condo or homeowner association fees.
Q: What should I do if my condo association files a foreclosure lawsuit against me?
A: The first thing you should do is contact your condo association, then request a payoff to find out how much $ you owe and then ask if they’d consider putting you on a payment plan.
“Our building management company was terrible. I stopped paying because they weren’t doing anything-not even putting the garbage out on the correct days. I had no idea they could sue to foreclose and take my condo. Thank God I called Gerald. He negotiated a settlement for me with the condo association and they canceled the foreclosure lawsuit against me.” ~Tara Chand| Hoboken, New Jersey
What Can An Attorney Do For Me?
When you hire an attorney to “help” you when you are hit with a foreclosure lawsuit, you end up paying two sets of legal fees: 1) you must pay your attorney’s fees & 2) you must also pay the attorney fees of the lienholder that filed the foreclosure lawsuit against you as well!
Attorneys generally charge by the hour. An experienced attorney may be able to delay the foreclosure process for a temporary period of time, however, an attorney cannot solve a foreclosure problem. Attorneys can actually make things worse and actually speed up the foreclosure process.
Will Bankruptcy Help?
The Perils Of Filing Bankruptcy
Personal bankruptcy usually falls into 2 categories: 1) Chapter 7 & 2) Chapter 13
1) Chapter 7 bankruptcy, if approved, may allow you to eliminate debt. However, there are severe and long-lasting consequences from filing bankruptcy that can affect you for a decade. After you file bankruptcy, it’s very difficult to get auto or personal loans and even if you can you’ll likely have to pay very high interest rates. Also, bankruptcy is not free, you have to pay for filing fees as well as legal fees if you hire a bankruptcy attorney and the result you want is not guaranteed. If the U.S. Trustee decides based on your income, debts and expenses that you can afford a Chapter 13 plan, they’ll file a motion to have your Chapter 7 case dismissed.
Q: Will filing for Chapter 7 bankruptcy get rid of my mortgage?
A: Your lender’s right to foreclose doesn’t go away if you file for bankruptcy. Your lender can still foreclose if you stop paying your mortgage.
2) When you apply for Chapter 13, a judge must approve your debt repayment plan. If approved, a Chapter 13 repayment plan only allows you to reorganize all your debt–none of your debt goes away and on top of that you also have to pay filing fees and your bankruptcy attorney’s legal fees (Chapter 13 really only adds to the debt you already have). The only situation where chapter 13 makes sense is if you have a very temporary financial problem that completely goes away. If saving your home is the reason you’re thinking about filing Chapter 13 bankruptcy, first explore the non-bankruptcy options for avoiding foreclosure, like negotiating with your lender or taking advantage of a government mortgage modification program.
Q: Can I still get foreclosed on if I file for Chapter 13 bankruptcy?
A: Yes, the mortgage lien allows the lender to foreclose on your home if you miss a payment.
NOTE: An executor or administrator of an estate CANNOT successfully file bankruptcy on behalf of an estate–the bankruptcy filing will be rejected by a judge!
Sale To Prevent Foreclosure
If a foreclosure sale date is looming, selling your home can save your equity from being taken away from you by a bank or a tax lien investor. Also, selling your home before you get foreclosed on will help you financially in the long run because you won’t have foreclosure listed on your credit report. If you have equity in your home, you can just sell it, but if you have no home equity and have a mortgage, you’ll need a third party like Performance Property to negotiate a short sale with your lender so that you can sell your home and avoid foreclosure.
Performance Property has successfully negotiated hundreds of short sales for our clients and our short sale services are free.
Q: What is a short sale?
A: A short sale is a negotiated sale of a property where a mortgage lender agrees to accept less than the total amount owed as a payoff on a mortgage loan.
“Hi Gerald I just want to take this moment to thank you and express my gratitude for a job well done. When I thought that everything was lost you appeared and delivered hopes. Your professionalism and endurance are out of this world. Thank you. Thank you. I will always be grateful.” ~Berkis Castro | Clifton, New Jersey
“Thank you so much for all your work, effort and time you put in helping me. I think things went really smoothly, way better than I’d hoped for! I’m sure it’s because of you. I really appreciate all of your help!” ~ Bridget Hieronymus | Jersey City, New Jersey
“I was not able to pay my mortgage and the Bank started the Foreclosure proceedings against me. I spoke with Performance Property about their process and they gave me hope. They were very diligent and did all the negotiations on my behalf. They were very professional, sincere and hardworking. I would recommend Performance Property’s services to anyone.” ~ Samuel Manoharan | North Bergen, New Jersey
“My family and I want to thank you so much for helping us. You did an outstanding job negotiating with our bank and keeping us informed. Thanks to your help, I now have more money to pay down bills and repair my credit.” ~ Marko Shafik | Bayonne, New Jersey
“As I began my morning today, I came to the conclusion that it was the dawn of a brand new start for my family. The burden is finally behind us. I have you to thank for that. You stuck by us, slogged through the swamp that is Chase Bank, put up with my constant questions and anxieties. I wondered if this day would come and lo and behold, it has. If good karma is to be had, I think you hit it big today. I am profoundly grateful for your hard work that has truly made a difference in our lives. We can now move forward with rebuilding our lives focusing upon a renewed perspective of what the important things in life are. Thank you again for your time and dedication.” ~ Melinda | Bayonne, New Jersey
Short Sale Information Videos
From Gerald Lucas, “The Short Sale Authority”:
7 Acceptable Financial Hardships For Short Sales:
A Short Sale’s Impact On Your Credit Score:
4 Proven Ways To Speed Up The Short Sale Process:
Persuasive Short Sale Hardship Letters: