{"id":837,"date":"2019-05-20T13:02:38","date_gmt":"2019-05-20T13:02:38","guid":{"rendered":"https:\/\/www.karinalucidlaw.com\/?p=837"},"modified":"2023-05-05T10:47:42","modified_gmt":"2023-05-05T10:47:42","slug":"what-to-expect-during-the-loss-mitigation-process","status":"publish","type":"post","link":"https:\/\/www.karinalucidlaw.com\/what-to-expect-during-the-loss-mitigation-process\/","title":{"rendered":"The Loss Mitigation Program Can Save Your Home"},"content":{"rendered":"
If you have decided that bankruptcy is the right choice for you, you may be worried about your family home. Even if you can\u2019t afford the payments on your other debt, you may be able to keep your home. How is that possible? Clients can participate in the New Jersey Bankruptcy Court\u2019s<\/a> Loss Mitigation Program as a way to save their home. This is a program to restructure your mortgage<\/a> payments.<\/p>\n The timeline for loss mitigation is fairly strict. In New Jersey Bankruptcy Court, you must apply to the loss mitigation program within 30 days of your initial bankruptcy petition. Failure to meet this initial deadline will require to file a motion. This obviously becomes more time consuming and expensive. Once your application (or motion) is granted, there is some flexibility on both sides. This gives both parties plenty of time to come to an agreement and a workable solution.<\/p>\nFile Within 30 Days<\/b><\/h4>\n
Loss Mitigation Sessions and Considering Different Solutions<\/b><\/h4>\n