Foreclosure Defense FAQs
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How can an attorney help keep me from losing my home to foreclosure?
Believe it or not, your lender does not want to take your home away from you. They would much prefer that you keep paying your monthly payment. If you risk losing your home to foreclosure but wish to keep your home, there are many things we can do to make that happen! While acting as your foreclosure defense team, we will negotiate with your lender to:
- Lower the principal amount of your loan. Let’s say your original principal due was $400,000. Your attorney may be able to negotiate that down to $350,000 or even lower. Your lender will be willing to take a slight loss rather than have you stop making payments altogether.
- Lower the interest rate on your loan. Maybe your original mortgage was negotiated with a really high interest rate (let’s say 9%). Lowering that rate to 6% or below will significantly reduce the interest you’ll be paying over the life of the loan.
- Wipe clean any late charges. Penalties and fees for missing mortgage payments can add up QUICKLY. You may have thousands of dollars due in late fees alone. Part of your foreclosure defense will involve attempting to wipe those amounts clean so that you don’t have to dig yourself out of a hole to get back to the starting line.
- Lengthen the life of your loan. If you had a 20- or 30-year mortgage, extending that by several years will stretch out the payments so that your monthly amount due will be much lower.
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What is a foreclosure?
If you fail to stay current on your mortgage payments, your bank or lender can take possession of your property via the foreclosure process.
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How does the bank start foreclosure against me?
After failing to make three mortgage payments, your bank or lender can send you a Notice of Intention to Foreclose. They are required to send you this notice at least 30 days before filing a formal complaint.
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Where are foreclosure complaints filed?
They are filed with the New Jersey Superior Court in Trenton, New Jersey.
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I want to keep my home. Is that possible if the bank has filed for foreclosure?
It is possible if you obtain legal assistance as soon as you receive the complaint. Ideally, you should retain the services of an experienced foreclosure defense attorney when you receive the notice of intention because after you receive the complaint, you have only 35 days to generate an answer. You also only have 60 days to request foreclosure mediation.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
To find out more about the foreclosure process, email us or call our office in Monmouth County at
(732) 695-3303.
Main Address
1720 Highway 34
Suite 10,
Wall Township, NJ 07727
Bordentown Office
(By Appointment Only)
33 Third Street 2nd Floor Suite 3
Bordentown, NJ 08505
Metuchen Office
(By Appointment Only)
247 Main Street
Metuchen, NJ 08840
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Legal Disclaimer:
George E. Veitengruber III is a New Jersey attorney, practicing New Jersey law exclusively in New Jersey. None of the information contained herein should be deemed to apply in other states, nor may this page be construed in any way as an attempt by Mr. Veitengruber to practice law in any state other than New Jersey. This page is intended to provide general information about our firm and its areas of practice to our current and potential clientele. It is not intended to give legal advice to anyone on any subject. That can only be done through a complete consultation with one of our attorneys. Legal advice obtained through this site does not create an attorney-client relationship, and the reader should not rely on same. According to the Supreme Court of New Jersey, and pursuant to the New Jersey Rules of Professional Conduct, this may be considered an “advertisement.” Before making your choice of attorney, you should give this matter careful thought. The selection of an attorney is an important decision. If the representations made on this page are inaccurate or misleading, you may report this to the Committee on Attorney Advertising, Hughes Justice Complex, CN 037, Trenton, NJ 08625. We are a federally designated debt relief agency — we help people file for bankruptcy. Information provided regarding “legal questions” or “bankruptcy updates” is for informational purposes only. While we hope and believe the information will be helpful, we do not warrant that the information is accurate or complete. Information is provided only in accordance with New Jersey and/or Federal Law. We are not licensed to practice law in any states other than New Jersey. The information does not constitute legal advice and should not be relied on as such. If you want legal advice, please consult a local lawyer directly. While we would welcome the opportunity to be that lawyer, we do not accept clients or render advice until the completion of a client intake form and a signed retainer agreement.