James Lockard - Bergen County Real Estate Blog

Bergen County NJ – Unfortunately, lenders do not always agree to loan modifications. That’s why when you decide to explore this option you need to get all the information you can on the subject. Lenders call the loan modification process “Loss Mitigation.” Loss mitigation is the act of lessening...

Bergen County NJ – A short sale is often viewed as the only alternative to foreclosure because it mitigates additional fees and costs to both the creditor and borrower. By doing a short sale, you will retain some dignity in knowing that you sold your home and you will have no mortgage payments t...

Bergen County NJ – A successful short sale helps the seller to avoid any credit damage that could be brought about by a foreclosure. Such damage is not something to admire as it may take a minimum of seven years for someone before it goes off your credit report. That is why is it best to do all y...

Bergen County NJ – While doing a real estate transaction, not all parties with a financial interest can be winners. However, a successful short sale is one of those rare cases where everyone leaves a winner. Click here to discover how other sellers successfully did a short sale and avoided forec...

Bergen County NJ – Most state governments have determined thatthepractice of offering consulting services to those with delinquent mortgages presents an opportunity for abuse. You don’t need to pay any consulting fees to get the help that you need to resolve your unpaid loan. Click here to discov...

Bergen County NJ – Patience, persistence, and a lot of experience is required to convince a lender to approve a short sale. It is a process with many steps. Do “NOT” allow a buyer to work directly with your lender! Don’t let the buyer speak for you. You will be required to provide so much financi...

Bergen County NJ – Mistake #1: Deeding your property to a third party without confirming that your debt has been paid off. Deeding your house to someone else is one way to avoid foreclosure. However, there are some things you need to do before you make a decision to deed your house to someone el...

Bergen County Real Estate – 2012, A Look Ahead It is a time of year for reflection on where we have been and a look into the crystal ball to prognosticate where we are going. Over the last few years, the main questions people would ask me knowing I was a Realtor is, “where is the real estate mark...

 Allendale Real Estate Year End Review – 2011 There is so much talk today about the real estate market and just how far values have fallen.  The first fact everyone should remember is that real estate is highly localized. In Bergen County, the market can be drastically different from one neighbo...

Bergen County NJ – The Stop Foreclosure Institute is closing another short sale tomorrow. The sellers had a job transfer out of state. They were short selling an FHA loan with a second mortgage. The short sale was fairly simple because FHA’s short sale guidelines. Click here to discover how other...