What are Mortgage Surplus Funds? If your lender has obtained a Final Judgment of Foreclosure, they will attempt to sell your home at a Sheriff Sale and the money paid by the successful Bidder will be used to pay the lender. If the property is worth more than the amount owed to the lender, there […]
Can I Stop Foreclosure On an Inherited Home?
How to Stop Foreclosure on an Inherited Home in NJ If you inherited a home that is at risk for foreclosure or a Sheriff’s Sale, or if you are an heir or an owner of a property that is part of an Estate, you can file a motion with the Court to get time to […]
CARES Act Foreclosure Protections Ended December 31, 2021
As of December 31, 2021, the Federal Regulations preventing foreclosures for those who have federally-backed mortgages have come to an end. Formerly provided by the CARES Act, these protections allowed for: A grace period from mortgage payments No new foreclosures No foreclosure-related evictions No credit score changes due to COVID-19 relief Now that this period […]
What is a Lis Pendens in a New Jersey Foreclosure?
If you are facing foreclosure in the state of New Jersey, it is important to keep track of the steps in the process. This includes saving and responding to any foreclosure notices you receive in the mail, and being aware of any public documents your lender files against you, including a Lis Pendens. What is […]
New Jersey Tax Sale Foreclosure Timeline
What is a New Jersey Tax Sale Foreclosure? If you fail to pay your property taxes in New Jersey, the municipality will eventually hold an auction where either a third party or the municipality itself will buy the right to pay off the outstanding taxes. Once the buyer has a tax lien against your house, […]
FHA Foreclosures Are Being Filed By Three NJ Banks
Attention NJ Homeowners: FHA foreclosure complaints are now being filed in New Jersey by the following three mortgage servicing companies: Lakeview Loan Servicing LoanCare M&T Bank These are the first federally backed loan foreclosures we have seen since the start of the Covid-19 pandemic. If you have a government-backed loan serviced by one of these […]
Evictions for Commercial Tenants are Resuming
While commercial foreclosures have continued to proceed during the COVID-19 pandemic, courts have paused issuing writs of possession and enforcing evictions, as well as other post-judgment actions. However, New Jersey courts will resume issuing writs of possession for commercial foreclosures effective February 15, 2021. Landlords can apply for an Order to Show Cause for eviction […]
UPDATE: Federally Backed Loan Foreclosures, Evictions Extended Until 1/31/2021
January 2021 Update: Extension Of Federally Backed Loan Foreclosures And Evictions Until January 31, 2021 Federally Backed Loans, specifically, Fannie Mae, Freddie Mac, the VA, FHA, and USDA have extended the moratoriums on foreclosures enacted earlier this year. Single-family homeowners with loans backed by Fannie, Freddie, or the VA are now protected from foreclosure through […]
Phelan Hallinan Diamond and Jones Has Closed
Phelan Hallinan Diamond and Jones, LLP, a Major Foreclosure Mill Law Firm, Has Closed Phelan Hallinan Diamond and Jones, LLP, a law firm that has represented a long list of mortgage lenders in New Jersey foreclosure cases, has closed permanently. Some of the banks they have represented include: Bank of America Caliber Home Loans Citibank […]
Can My Lender Charge Late Fees During Foreclosure?
New Jersey Lenders CANNOT Charge Late Fees During Foreclosure Once your lender has filed a foreclosure complaint, they can no longer charge or collect any new late fees for missed payments that were due after the complaint has been filed. By initiating foreclosure, your lender is accelerating the payment of the debt and denying you […]
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