FORECLOSURES DON’T TAKE YEARS IN NEW JERSEY
New Jersey has the unfortunate distinction of leading the nation in foreclosures. In 2017, nearly 70,000 NJ properties were involved in the foreclosure process. Based upon the large number of old foreclosure lingering in the system, the average foreclosure appears to take years. However, new foreclosure are moving quicker all the time. Some foreclosure have been going from complaint to Final Judgment in just four (4) months!
If you are in a fast moving county, you could be facing a Sheriff Sale within six (6) months of receiving the complaint, if you do not take any action. If your home is being foreclosed on, it is important to act quickly and take charge of the situation. The sooner you take steps to defend against the foreclosure, the better your chance of staying in your home.
Helpful information:
- See our New Jersey Foreclosure Timeline to learn more about the foreclosure process.
- Read about filing an answer to a foreclosure complaint.
- Read about stopping a Final Judgment of Foreclosure with a loan modification.
New Jersey Counties with Quick Foreclosures
To give you an idea of the increased speed of foreclosures, here are some New Jersey counties where sheriff sales are being scheduled less than 3 months from the time the lender applies for the sale. Keep in mind that these are estimates from NJ county sheriff’s offices and subject to change.
- Atlantic County – 2 months
- Burlington County – 2 months
- Camden County – 2 months
- Cape May County – 3 months
- Essex County – 2 months
- Hudson County – 2 months
- Hunterdon County – 2 months
- Middlesex County – 2 months
- Monmouth County – 1 month
- Morris County – 2 months
- Passaic County – 1 month
- Salem County – 1 month
- Somerset County – 2 months
- Sussex County – 2 months
- Union County – 2 months
Contact Us Today
If you have received a Foreclosure Complaint, or if your home is approaching a New Jersey Sheriff Sale, it is important to stay informed and know your options. Contact Ira J. Metrick today to discuss how you can stop the foreclosure and stay in your home. We can conduct an analysis to determine if you are eligible for a loan modification, and give you an estimate of the payment terms.
