(856) 686-9910It happens far too often than I would like. A client comes to me to negotiate an affordable repayment plan on their defaulted HESAA loans. I set one up, they start repaying, and everything is fine.
Until it isn't!
Just TRY to Buy or Sell a Home!
The problem arises when the client comes to me after HESAA has obtained a judgment against them. Now the good news is that HESAA won't actively try to collect on that judgment through a bank levy or a wage garnishment. But they will record the judgment as a lien against your home (or any home you may want to buy in the future)!
If you sell or refinance your home, HESAA will stand there with its hand out, figuring you are getting money from the sale, and expect payment of the balance! Even if the net proceeds aren't enough to pay off the balance, they will take whatever money you were hoping to get from the sale (and maybe use for a downpayment on a new one).
If you are buying your first home, which usually happens to the student borrower and not the parent co-signer, their lien could interfere with your ability to get a mortgage. Even if HESAA agrees to put its lien second to your mortgage, you now have another lien to pay off when you sell it!
Don't Wait Too Long to Get a Deal!
If you have received a letter from a lawyer, or worse been served with a lawsuit, contact my office right away to get me involved! I can then negotiate a deal for payments that will prevent them from entering a judgment as long as the payments are made.
If you realize that you have to take action immediately to protect your financial freedom, and are ready to take that action, then click on this link to schedule a free, no obligation call with my office to discuss your case and see if you qualify for an affordable payment plan. The sooner you retain me, the sooner you will be able to breathe easily again (and not worry about selling your home)!
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