What Happens to a Mortgage When the Borrower Dies? When a homeowner dies, the lender can foreclosure, but the foreclosure must name the heirs, executors and administrators. When a homeowner or mortgage borrower dies, their Will normally dictates who will be in charge of their property, such as an heir, executor, or administrator. This person will […]

Can my Second Mortgage Lender Foreclose on my Property? Your second mortgage lender has as much right to foreclose on the property if you fall behind on payments as your original mortgage lender does. However, a second mortgage lender must pay off the first mortgage if they foreclose, so they will normally only proceed with […]

Supporting Successor in Interest Claim in an NJ Divorce Property Settlement Agreement When people get divorced, if one person wants to keep the home and be able to get a loan modification, they need to have specific language included in the divorce settlement that states only one party is the sole owner of the home. […]

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 […]

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 […]

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, […]