Call: 856-963-5000Schedule Your Free Consultation
We offer a Free Consultation in any of our 4 offices or virtually, as needed.
Menu ☰

Category: Loan Modifications

Can Foreclosure Be Stopped?

Picture of a stack of credit cards.

Being in debt is horrible. You spend sleepless nights trying to figure out which bills to pay and how to pay them. Meanwhile, your mortgage is in arrears and your head is filled with questions like:

  • “Will the bank take my home?”
  • “Do I have to file for bankruptcy?”
  • “Can filing for bankruptcy protection save my home from foreclosure?”

Your home is likely the biggest investment you’ve ever made. It’s the place where you and your family feel safest. But uncontrollable debt is a threat to that security.

The mortgage company wants its payments, and when a homeowner gets into significant arrears, it can be tough to avoid foreclosure. Your fears are justified, but it’s important to know you have options.

So, How Can You Stop Foreclosure and Save Your Home?

To stop the foreclosure of your home, the options include filing for Chapter 13 bankruptcy, debt negotiation/settlement, or obtaining a loan modification.

Chapter 13 Bankruptcy: Also called reorganization bankruptcy, Chapter 13 enables a person to pay back creditors in smaller amounts over a longer period of time (usually three to five years). This includes paying back mortgage arrears and getting current with your loan.

Debt Negotiation/Settlement: In a general sense, this is when you work with your creditors to reduce the total amount owed or restructure your payment plan in your favor. In theory, this is a great option, but it can negatively impact your credit score and it requires an agreement from your debtors to even do it. You’ll definitely need the help of an experienced attorney to try this route.

Loan Modification: In this program, you may be able to restructure your loan and reduce monthly payments. You may also be able to take some of your equity to pay down debt so you avoid bankruptcy.

Contact Us to Help Save Your Home from Foreclosure

You can get through these challenging financial times — we can help. At Brenner Spiller & Archer, we provide friendly, caring, and affordable legal services. We serve clients throughout central and south Jersey with offices in West Berlin, Mount Holly, Vineland, and Freehold. If you need a friendly lawyer who truly cares about you, call (856) 963-5000 today to get your free consultation.

6 Alternatives to Foreclosure

Foreclosure is a term that’s plagued with financial and social stigma and it brings to mind struggle, irresponsibility and loss. But though it has this stigma, many don’t realize that foreclosure could really happen to anyone. Anything from an unexpected loss in the family to prolonged unemployment, or even a sudden illness could lead to a financial situation that leaves people struggling to keep their homes.

As if a foreclosure wasn’t bad enough, it can also wreak havoc on a homeowner’s credit score, making for an ugly financial situation. The good news is that there are at least six alternatives to foreclosure:

Talk to Your Lender about Loan Modification

As with most bills, a lot of financial situations could be remedied by simply being honest with your lender. If you have missed payments and trouble paying, talk to your lender about a loan modification. Though you must qualify depending on their standards, a loan modification could mean a lower interest rate, a longer amount of time to pay, and of course lower payments.

Rent Out a Room or the Property

It seems like an obvious action to take, but it’s an alternative that’s often overlooked. If a homeowner is having trouble paying the mortgage, it may be worthwhile to make use of extra space in the home and rent out a room to a tenant. If this isn’t possible, it may be worthwhile to rent out the entire property – this way, most of the mortgage gets covered while the homeowner seeks a more affordable place to live.


If you have a good or even passable credit rating and enough equity in the home, refinancing is a good option to at least look into. Refinancing can bring with it a better rate, no matter how slight, and in turn bring more affordable payments.


Also known as a payment plan, forbearance is an arrangement that allows you to work out a temporary payment plan with your lender. It’s also known as a hardship program – in these cases, the payments may be lowered or stopped altogether to allow a homeowner to catch up.

Friendly Foreclosure

A “friendly foreclosure” is just another term for a process called a “deed-in-lieu.” It’s fairly straightforward on paper: rather than allow the bank to foreclose your home, you would return the deed of the home on your own volition.

Short Sale

The most common route taken by those facing foreclosure, a short sale is just that: selling the house for less than what is owed under approved parameters to get out of paying more than the home is worth. The impact to your credit is still there but can be significantly lower than foreclosure and friendly foreclosure.

Our Experienced, Friendly Debt Attorneys Can Help Save Your Home

Your home is your castle. It’s likely the largest investment you’ve ever made and it’s the place where you and your family feel safe. However, when unmanageable debt threatens your home, it’s completely understandable if you feel overwhelmed and frustrated. The mortgage company wants its payments and when a homeowner gets into significant arrears, it can be very difficult to avoid foreclosure.

However, all hope is not lost. At the law firm of Brenner Spiller & Archer, we care about our clients and have helped countless homeowners in South Jersey remain in their homes through a variety of methods. Contact our West Berlin, NJ office today to speak with an experienced, friendly lawyer who will explain your rights and options, answer all of your questions, and do what’s necessary to save your home.

Contact Us Online or Call 856-963-5000 to Get Your Free Initial Consultation

A Loan Modification Could Save Your Home

This is a strange and frightening time. COVID-19 has disrupted everything and brought a level of uncertainty we’ve never seen before. Maybe your hours or salary have been reduced dramatically. You may have even lost your job entirely. How will you pay your mortgage? 

You could try a forbearance, which would defer your payments, but that’s only a band-aid solution that won’t help you long-term. Filing a Chapter 13 bankruptcy could help, but maybe you’re not ready for that option. In this case, the best opportunity may be a loan modification, which may stop foreclosure and alter the terms of your mortgage.

4 Potential Options for Modifying Your Mortgage or Loan

You may be able to modify your loan in a few different ways:

  1. Lowering your interest rate
  2. Extending the term of the mortgage/loan (loan extension)
  3. Placing your arrears at the end of the loan
  4. Reducing the balance due on the mortgage (this is rare)

If you’re behind on your mortgage and facing foreclosure, you have the right to request mediation to deal directly with your mortgage company. However, mortgage companies are rarely looking out for your best interests. The process is frustrating and labor-intensive, but an attorney can take the burden off of your shoulders.

Get Help From Our New Jersey Mortgage Modification Lawyers

Having an experienced, caring attorney on your side can increase your chances. At Brenner Spiller & Archer, our bankruptcy lawyers are skilled and aggressive negotiators who have experience working with mortgage companies, banks, and creditors.

We provide friendly, caring, and affordable legal services. We serve clients throughout central and south Jersey with offices in West Berlin, Mount Holly, Vineland, and Freehold. Due to COVID-19, we are currently meeting with clients virtually.

Call 856-963-5000 Now or Click Here to Schedule Your Free Consultation

Request Your Free Consultation

    Our Office Locations



    125 NJ-73 North
    West Berlin, NJ 08091

    Phone: 856-963-5000

    Fax: 856-858-4371

    MAP & Directions


    33 Grant Street
    Mt. Holly, NJ 08060

    Phone: 609-303-5060

    Fax: 856-858-4371

    MAP & Directions


    1063 E Landis Avenue
    Vineland, NJ 08360

    Phone: 856-406-2332

    Fax: 856-858-4371

    MAP & Directions


    57 W. Main St.
    Freehold, NJ 07728

    Phone: 732-338-0659

    Fax: 856-858-4371

    MAP & Directions