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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]
In New Jersey, the posting of a bond is not required to appeal a decision. However, if the party wishes to stay a judgment during the appeal, a motion must be made with the Superior Court , and the court can require the posting of a bond or cash deposit under R.2:9-5 and R.2:9-6.
While the Texas Rules of Civil Procedure require no judicial permission and impose no intervention deadline, common law dictates that a party may not intervene post-judgment unless the trial court first sets aside the judgment. [8] For the same reason, an intervenor must enter the lawsuit before final judgment to have standing to bring an appeal.
A deficiency judgment is an unsecured money judgment against a borrower whose mortgage foreclosure sale did not produce sufficient funds to pay the underlying promissory note, or loan, in full. [ 1 ] The availability of a deficiency judgment depends on whether the lender has a recourse or nonrecourse loan , which is largely a matter of state law.
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Confession of judgment is a legal term that refers to a type of contract (or a clause with such a provision) in which a party agrees to let the other party enter a judgment against them. Such contracts are highly controversial and may be invalidated as a violation of due process by courts, since the obligor is essentially contracting away his ...
A writ of attachment is filed to secure debt or claim of the creditor in the event that a judgment is rendered. [ 2 ] Foreign attachment procedures have existed from time to time in Scotland , where it was known as arrestment ; in France , where it was known as saisie arret ; in the U.S and elsewhere.
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