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NJ Appellate Court Holds That Law Firm’s Subsequent Mortgage Lien has Priority Over Factoring Company’s Earlier Recorded Mortgage Providing for Optional Advances

Posted by July 2, 2015 , ,

It's the rare occasion that a prior recorded mortgage is held to be inferior to a subsequently recorded mortgage. But that was the ruling by the New Jersey Appellate Division in a decision published on June 17, 2015.  Rosenthal & Rosenthal vs. Riker, Danzig, Sherer, Hyland & Peretti, L.L.P., (Docket No. A-2890-13T3 (App. Div. 2015).  This ... Read More.

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Tenant’s Rights Under New Jersey Foreclosure Fairness Act

Posted by February 12, 2015 ,

A law enacted in 2010 called the New Jersey Foreclosure Fairness Act (“NJFFA”), found in N.J.S.A. 2A:50-69 to -71, offers valuable protections to residential tenants living in foreclosed properties. Specifically, new owners of a property acquired through foreclosure are required to serve residential tenants with a detailed written notice inform ... Read More.

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Not Every Error Justifies Vacating a Sheriff’s Sale When it Would Serve no Purpose, says NJ Appellate Court

Posted by December 1, 2014

In an unpublished opinion issued on June 25, 2014, the New Jersey Appellate Division cited principles of equity in rejecting a homeowner's request to vacate a sheriff’s sale based on his allegation of not receiving notice of the sale date in strict compliance with New Jersey Court Rule 4:65-2.  The Court affirmed the Chancery Judge's ruling ... Read More.

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Bergen County Chancery Judge Hits Mortgage Lender With $26,000 in Counsel Fees For Violating New Jersey Consumer Fraud Act

Posted by August 5, 2014 , , , ,

In an unpublished decision issued on July 31, 2014, a Bergen County Chancery Judge fined a mortgage lender over $26,000 in legal fees for violating the New Jersey Consumer Fraud Act in connection with a residential loan refinance involving a then 70-year old woman residing in Englewood, New Jersey.  Freedom Mortgage Corp. v. Mamie E. Major, Superi ... Read More.

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