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The Coronavirus pandemic and home quarantine has been a long haul. With businesses reopening, people are going back to work, and the economy improving, Americans are slowly getting back to normal life.  This inspires confidence in many however there is a dark side to this progress in that ALL businesses and operations will soon be restored, including the courts.  This means that if you have missed rent or mortgage payments, foreclosure and eviction proceedings will soon commence.

New Jersey has had eviction and foreclosure freezes in place since the beginning of this pandemic however many tenants and homeowners have reportedly been harassed by landlords and banks during this freeze.  Millions fear homelessness once the emergency declarations expire.

Will your bank or landlord work with you on loan modifications or a payment plan or will you have to pay these past few months in full once the stay is lifted.

 If you fear or anticipate eviction or foreclosure, you can still take steps now in attempts to prevent this from happening, once of which is to speak with your bank or landlord NOW.  Landlords, in particular, may not be able to get a new tenant for some time and would rather keep a current tenant.  Because of this, landlords may be willing to work with you. 

The case is similar for banks, who are not in the business of selling real estate.  They, too, may offer assistance of some sort for homeowners experiencing financial difficulty. However, loan modifications are not mandatory and are often rejected by the banks. It is best to have a loan modification lawyer help you with your loan modification to increase your chance of success.

If you have already been facing a foreclosure, a foreclosure defense attorney or bankruptcy attorney can help defend your case or stop the foreclosure.

You should know your rights as both a consumer and homeowner or tenant as they pertain to this pandemic and available aid.  Call and schedule an appointment today to learn how we can help you prevent the loss of your home.