Katie

Is the house a knock down? IF not it's likely a foreclosure.

Most towns in bergen cty require a certificate of occupancy. Contact the town to see what is required in that town. I think their phone number is: 201-288-0195.

It's usually pretty easy. - Tue May 6 2008, 10:00

It takes a while usually. Keep talking to the bank. Write them letters (about 1x a month). CAll them on the phone when you have to.

We have been in our home for nearly 2 years waiting for the foreclosure process to wind it's way. Contact a good attorney. You can keep them off for a LONG time with proper advice. - Tue May 6 2008, 09:54

To answer the question that you asked - the bank cannot garnish your wages.

Real estate agents will tell you to go for a short sale. This is what I would do:

1. consult an attorney
2. quit paying the mortgage
3. give your teanats a good lease
4. keep collecting the rent until the bank says to stop

As long as those tenants have a lease they will have more rights than you will. The bank connot eveict them until the lease is up.

I'd mail the keys back to the bank and call it a day. You can shed that debt (and any other unwanted debt) by filing chapter 7 bankruptcy.

It's a LOT less hassle than dealing with the bank and all that comes with it. - Tue May 6 2008, 09:51

I would suggest that you check out

www.njtransit.com - Tue May 6 2008, 09:41

Sadly your situation is all too common. If I were you this is what I would do.

#1 - i'd quit paying the mortgage until I got a new job
#2 - keep everything else up to date as best you can (i'm willing to bet that the mortgage is your biggest debt)
#3 - once you have new employment file for chapter 13 bankruptcy. JUST YOU- not your wife.

Chapter 13 will allow you to cure the arrears on the the mortgage over time. And you will get to stay in the house.

#4 - KEEP TALKING TO THE BANK!!! In truth they're not going to give you any real help. But talking to them will keep the wolf away from the door for quite some time.

Best of luck!

You can save yourself a LOT of headaches - Tue May 6 2008, 09:36