New Jersey Foreclosure LawFacts: Judicial Foreclosure Available: Yes Non-Judicial Foreclosure Available: No Primary Security Instruments: Mortgage Timeline: Approximately 90 - 120 Days unless contested Right of Redemption: Yes, limited Deficiency Judgments Allowed: Yes, restricted Quick Summary: In New Jersey, lenders may foreclose on mortgages in default using only the judicial foreclosure process.
The foreclosure timeline in New Jersey is typically 90 - 120 days (unless contested) from the time you miss your first payment until a Notice of Default or Notice of Sale is issued to your actual foreclosure date and sale.
New Jersey borrowers have the right of redemption but it is limited to objections within 10 days after a sale. Deficiency judgments are allowed but are restricted to six months. For more information on New Jersey Foreclsoure laws and regulations visit http://www.ncsl.org/public/leglinks.cfm and click on your state. Or Contact: New Jersey's Attorney General's Office How Can SaveMeFromForeclosure.com Help Stop Foreclosure on My Home? We can help you either Keep or Sell Your Home to Avoid Foreclosure. Fill out our quick questionnaire and your local SaveMeFromForeclosure.com representative will contact you about how we can help you stop foreclosure today. Want to talk to someone now? Contact us at 1-888-I-Save-80 (1-888-472-8380). |