New Jersey State Foreclosure Laws
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New Jersey
Foreclosure Laws
- Judicial Foreclosure Available:
Yes
- Non-Judicial Foreclosure
Available:
No
- Right of Redemption:
Yes
- Deficiency Judgments allowed:
Yes
- Special Comments:
None
Judicial Foreclosure
Generally, in judicial foreclosure, a court decrees the amount of the borrowers debt and gives him or her a short time to pay. If the borrower fails to pay within that time, the clerk of the court then advertises the property for sale.
Once the process begins, a foreclosure notice must be:
1) posted in the county office of the county where the property is located;
2) posted on the property in foreclosure; and
3) published in two (2) newspapers in the county.
The lender must also notify the borrower at least ten (10) days prior to the foreclosure sale.
It is possible for the lender to obtain a deficiency judgment and borrowers have a right to redemption and/or objection within ten (10) days after the sale.
State Law information provided by Foreclosurelaw.org
What can you do
Our foreclosure specialists understand what your Mortgage Company requires to avoid foreclosure or stop foreclosure. We understand what it takes to get a mortgage workout approved.
We will use one of these strategies or perhaps a combination of workout plans to develop your personalized strategy to stop foreclosure:
- Reinstatement Plan
- Repayment Plan
- Loan Modification/Loan restructuring
- Loan Refinance
- Loan Forbearance
- Partial Claim
- Pre-Foreclosure Sale
- Short Sale
- Deed-in-Lieu of Foreclosure
We call ourselves Specialists because we
SPECIALIZE in helping people get out of foreclosure.
Our Name, American Foreclosure Specialists, is the name that you can trust.
Do you want to Stop Foreclosure? Fill out our Free Questionnaire