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How to abandon your real property

If you have thought to yourself “Why I am a struggling to pay this mortgage when I owe double what my home is worth?” than you are not alone.

Many homeowners  have watched the value of their home plummet, while they struggle with high mortgage payments and banks that refuse to to modify the mortgage or work with them when they are behind.  At some point some of these homeowners decide it is not worth it and it is time to just leave the home and let the bank have it.

It is very important that before you decide to abandon your property in New Jersey that you seek the advice of a bankruptcy attorney.¬† A bankruptcy attorney can guide you on the best route to avoid potential pitfalls of abandonment or surrender and how best to follow New Jersey’s rules on abandoning property.

If you mortgage has become too much for your to handle feel free to contact our office at 732-302-9600 for a free consultation or fill out our online consultation form and we will call you.