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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]
More than 13,300 New Jersey families faced a foreclosure filing in 2023, with the highest numbers in Camden, Essex and Ocean counties, the Administrative Office of the Courts reported.
Ocean County has postponed the foreclosure auction scheduled for July 23 amid concerns that unproven nonprofit agencies are taking advantage of a new law that was designed to even the playing ...
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%.
Housing and Neighborhood Development Services, Inc. or HANDS Inc. is a nonprofit housing group based in Orange, New Jersey.Since 1986, the organization has worked to revitalize residential and commercial properties throughout the tri-state area through foreclosure and negotiations with the owners. [1]
This figure falls in the higher spectrum of foreclosure frequency. As of August 2014, the foreclosure rate was 33.7%, 1.7% up from the last year. The rise in foreclosure activity has been most significant in New York and New Jersey, the two most densely populated areas in U.S. Closely following them is Florida. [36]