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Ocean County has 51 properties listed for sheriff's sales, although 18 have been adjourned to a later date or postponed. It isn't clear if other counties have followed Ocean County's lead and ...
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 ...
If the debt is not paid within the said period, a foreclosure sale satisfies the judgment. [47] In an extrajudicial foreclosure, the mortgagee need not initiate an action in court but may simply file an application before the Clerk of Court to secure attendance of the Sheriff who conducts the public sale. [48] This is done pursuant to a power ...
A deed in lieu of foreclosure is generally a last-resort step taken by a homeowner to avoid a foreclosure, says Alesia Parker, branch manager at Silverton Mortgage, an Atlanta-based residential ...