Evictions and foreclosures in a pandemic. The statistics are grim. In New Jersey, there are over 15,000 tenancy complaints waiting to be heard. On a national level, it is estimated that one third of all households in the country failed to make payments on either mortgages or rent in July.
Sheriff sales and evictions in New Jersey were halted in March by Gov. Murphy. There has been no word yet as to when they will resume. And when the courts reopen, nobody knows what will happen. Will there be emergency grants and loans available? Are mortgage companies going to agree to forbearance agreements? How will consumers make up arrears with rampant joblessness and reduced income? Again, nobody knows what lies ahead.
If you are facing this kind of problem, bankruptcy may be the appropriate remedy. It can slow down or completely stop an eviction or foreclosure.
Please feel free to call us at 732-222-8800 if you need information or help. There is no charge for the first consultation.