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In Morris County, the sheriff's sale is going on as scheduled, Turkot said. Monmouth County officials didn't return a call for comment, but its website has a sheriff's sale scheduled for July 29.
The law takes effect as the inventory of single-family homes for sale in New Jersey has plummeted since the pandemic, from nearly 42,489 in June 2019 to 14,801 in June 2024, or 65%.
The Fair Foreclosure Act (FFA), N.J.S.A §§ 2A:50-53 to 2A:50-73, is a state law that protects residential mortgage debtors and establishes a uniform statutory framework under which courts can more clearly identify the rights and remedies of the parties involved in foreclosure proceedings throughout New Jersey. [1]
Private property may be sold in a public auction for a number of reasons. It may be seized through a governmental process to satisfy a judgment rendered by a court or agency, or to liquidate a mortgage foreclosure, tax lien, or tax sale. Usually, prices obtained at a public auction to satisfy a judgment are distressed – that is, they are much ...
In this "power-of-sale" type of foreclosure, if the debtor fails to cure the default, or use other lawful means (such as filing for bankruptcy to temporarily stay the foreclosure) to stop the sale, the mortgagee or its representative conduct a public auction in a manner similar to the sheriff's auction.
These laws can govern your mortgage relief options if you are already in foreclosure, how to post a Notice of Sale, the sale timeline and other parts of the process. Step 1: Missed mortgage payments
The Daily Record is a seven-day morning daily newspaper of the USA Today Network located in Parsippany-Troy Hills, New Jersey. [3] The Daily Record serves the greater Morris County area of northern New Jersey, Essex County and the south-western suburbs of New York City. It is owned by Gannett, who purchased it from the Goodson Newspaper Group ...
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