Can I delay foreclosure

[Dave McIntyre]

Hi all
I have a SF rental property in NJ that's facing foreclosure. Title is in the name of an LLC. Are there any steps i can take to delay foreclosure? (I heard there may not be.)
Thx in advance!

[Jordan Ray]

Yes! Short sale/Loss Mitigation applications with your agent can avoid foreclosure. You need to hire an agent in NJ that specializes in short sale transactions and has experience with this! The short sale real estate agent should be able to advise you on all of the loss mitigation options and laws specific to your state and help you with each option prior to listing for sale as a short sale and trying to liquidate the property. They should also be able to get paid in certain scenarios other that selling and/or they can charge an up front retainer fee to charge you for the paperwork if that is all they do. In most cases the short sale listing agent would be able to advise of each scenario during your consultation and not charge unless they sell the property. Hope this helps! Let me know if you need help finding an agent that specializes in short sales in NJ!