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NJ Foreclosure Law: Joinder of Non-Owner Spouse in Residential Foreclosure Cases

Posted by September 15, 2016

Joinder of Non-Owner Spouses in New Jersey Residential Foreclosure Cases Assume the following scenario: Ralph Kramden purchases a residential investment property while single, and obtains mortgage financing to fund the purchase price. The property Deed is in Ralph's name only, as are the mortgage and promissory note that Ralph signed in favor of ... Read More.

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NJ Supreme Court Declares Law Firm’s Subsequently Recorded Mortgage Trumps Factoring Company’s Earlier Recorded Optional Advance Mortgages

Posted by July 25, 2016 ,

Mortgage Priority Optional Advances New Jersey In a unanimous decision issued on July 21, 2016, the New Jersey Supreme Court affirmed the Appellate Division's decision granting priority to a law firm's subsequently recorded mortgage over the pre-existing recorded mortgages held by a factoring company. We initially reported on this case in 2015 wh ... Read More.

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No Foreclosure For You, says New Jersey Trial Court to Lender

Posted by July 13, 2016 ,

In an unpublished decision issued on June 30, 2016, a Bergen County trial judge granted summary judgment in favor of homeowners by declaring the lender's foreclosure complaint was time barred under the 6-year statute of limitations period commencing from the maturity date of the loan. Anim Investment Co. v. Shaloub, Superior Court of New Jersey, La ... Read More.

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Lender is Simultaneously Foreclosing During Loan Modification Negotiations – is That Kosher?

Posted by February 1, 2016 , ,

ATTENTION HOMEOWNERS IN FORECLOSURE.  Just because a mortgage lender is negotiating a loan modification doesn't mean the lender has to suspend its rights when the borrower is in default. This is a rather common scenario in our difficult economic times. The bank sends its borrower a letter offering a loan modification. The borrower accepts the ban ... Read More.

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