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Under the Community Wealth Preservation Program (A5664/S4240), New Jersey homeowners experiencing foreclosure, their next of kin, or tenants living in a foreclosed property would have “the right ...
A new state law is designed to help people in foreclosure keep their homes, ... The law takes effect as the inventory of single-family homes for sale in New Jersey has plummeted since the pandemic ...
Meantime, the median price of a single-family home statewide has climbed 71% in five years, while the inventory of homes for sale has declined by 65% during that time, according to the New Jersey ...
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]
Nevertheless, in an illiquid real estate market or if real estate prices drop, the property being foreclosed could be sold for less than the remaining balance on the primary mortgage loan, and there may be no insurance to cover the loss. In this case, the court overseeing the foreclosure process may enter a deficiency judgment against the ...
Houses in Union County, New Jersey (26 P) W. Houses in Warren County, New Jersey (14 P) This page was last edited on 23 August 2015, at 01:54 (UTC). Text is ...
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