With all that being said, since he's defaulted and up until receiving this notice, has he had any contact with the bank? Has he tried to do a short sale? Was he denied for a loan modification? There are programs in New Jersey that do try and help homeowners keep their homes especially if they have income. Hoepfully its not too late to get help. Here's a link to those websites for foreclosure help: http://ginachiricorealestate.com/AvoidingForeclosure.html#fo
The best bet is to stop the process and ask the bank to consider a short sale. It is not that hard to do. A short sale is not as bad as a foreclosure. It mostly affects your credit only. While a foreclosure will affect your credit and reported income for the difference and a judgment in court for deficiency.
If you need help call me.
Search foreclosures and short sale here: http://www.BuyNJShortSales.com
Search the MLS on your phone by Text: In the subject line on your mobile phone- LSAR1 -to number 87778 ... hit send... A GPS feature for listings at your finger tips
609-868-1171 call / text / email 7 days
Joe Montenigro REMAX Home Team
Broker, GRI (856)374-2800 x106
Serving Gloucester Twp, Washington Twp & South Jersey Real Estate Markets
Search all Homes: http://hometeamNJ.com/search
About Joe: http://hometeamnj.com/about/