What is a Pre-Foreclosure in New Jersey?

With millions of homes across the country going into foreclosure, it’s important for both buyers and mortgage holders to understand the process. So what is a pre-foreclosure in New Jersey anyway? Many homeowners across America and New Jersey are facing difficulties making their monthly mortgage payments. When a homeowner misses 3-6 months of mortgage payments, the lending … Continued

Short Sale vs. Foreclosure – What’s the Difference?

Whether you’re a buyer or a borrower / seller, a short sale and foreclosure each present different advantages and difficulties. What Is A Foreclosure In New Jersey? In simple terms… “A foreclosed home is one in which the owner is unable to make his mortgage loan payments and the bank repossessed the home” (source).  If … Continued