• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Dubiln Packard

  • Home
  • About
  • Foreclosure
  • Contact

foreclosure lawyer

July 9, 2019 by Todd Murphy

New laws to address New Jersey Foreclosure Crisis

Governor Phil Murphy signed on April 29, 2019 new laws to address New Jersey foreclosure Crisis. These new laws will help New Jerseyans struggling with the state’s highest-in-the-nation foreclosure rate. The new laws will assist homeowners facing the prospect of foreclosure and pave the way for community revival by addressing blight. Many of the measures were recommended in a September 2018 report by the Special Committee on Residential Foreclosures, which was created by Chief Justice Stuart Rabner.

“The foreclosure crisis has hurt our economy and jeopardized economic security of too many New Jersey families,” said Governor Murphy. “Our communities cannot succeed while vacant or foreclosed homes sit empty or while families live in limbo. I am proud to sign these bills into law today and get New Jersey closer to ending the foreclosure crisis.”

Among the new laws, Governor Murphy signed A664, which codifies the Judiciary’s Foreclosure Mediation Program into law, creating a long-term, permanent program that will not only increase the number of people entering mediation, but also ensure that homeowners receive housing counseling assistance to help provide them with the best possible outcomes in the foreclosure process.

“The foreclosure crisis hit the families of Atlantic County harder than almost any county in the nation. These bills offer a better path for the region and hope for families in despair,” said Special Counsel Jim Johnson. “It’s a vital and important step forward.”

Another important law is S3464 which requires the sheriff to conduct a foreclosure sale within 120 days of the sheriff’s receipt of a writ of execution, instead of scheduling a closing sale within that time frame, as currently provided by the act. The bill also allows the Office of Foreclosure within the Administrative Office of the Courts to issue an order to appoint a Special Master to hold foreclosure sales for one or more properties within a vicinage. The bill also clarifies that, to convey the foreclosed property to the purchaser from the sheriff’s sale, the plaintiff’s attorney is required to prepare, and the sheriff’s office is required to use, the standard form of deed that is set forth in the “Fair Foreclosure Act.”

Perhaps most important, the bill also revises the statute that governs the process for adjournments in connection with sales of real estate by virtue of an execution. The bill provides that a sheriff or other officer conducting the sale may make up to four adjournments, two at the request of the lender and two at the request of the debtor, instead of the total of two adjournments that the statute currently allows. The bill provides that these adjournments shall not exceed 30 calendar days each, instead of the 14 calendar days currently provided for in the statute. As currently provided in the statute, a court of competent jurisdiction may, for cause, make further adjournments.

The Governor signed the following nine bills into law:

  • A664 – Codifies the Judiciary’s Foreclosure Mediation Program; dedicates monies from foreclosure filing fees and fines.
  • A4997 – “Mortgage Servicers Licensing Act.”
  • A4999 – Requires filing of certain creditor contact information with residential mortgage foreclosure complaint and lis pendens.
  • A5001 – Revises statute of limitations for residential mortgage foreclosures.
  • A5002 – Permits certain planned real estate developments to file certain liens; concerns limited priority of certain liens.
  • S3411 – Requires receivership appointment application prior to certain foreclosure actions; requires notice of intention to foreclosure on residential mortgage to be filed within 180 days prior to commencing foreclosure; limits reinstatements of dismissed mortgage foreclosure actions.
  • S3413 – Makes certain changes to summary action foreclosure process under “Fair Foreclosure Act.”
  • S3416 – Clarifies that “New Jersey Residential Mortgage Lending Act” applies to certain out-of-state persons and involved in residential mortgage lending in the State.
  • S3464 – Revises certain procedures for real estate foreclosure sales; alters adjournment of sale process.

The change in the adjournment time from 14 to 30 for each of the two adjournments available to homeowners provides for additional time often vital to helping save their homes at the last minute prior to a sheriff sale.

For more information on adjourning a sheriff sale, see my article How to Stop or Adjourn A Sheriff Sale in New Jersey and for more information and other articles in my sheriff sale series see Sheriff Sale Help.

Filed Under: Foreclosure, Sheriff Sale Tagged With: bankruptcy, Chapter 13, foreclosure, foreclosure lawyer, New Jersey, sheriff sales

June 5, 2019 by Todd Murphy

New Jersey Revises Statute of Limitations on Foreclosures

Finally Some Clarity on the Statute of Limitations for New Jersey Foreclosures.

There has been much confusion about the statute of limitations for residential foreclosures in New Jersey.  Finally, now, we have some clarity.  The New Jersey Assembly voted to modify the terms of the Fair Foreclosure statute to limit the filing of foreclosure cases to six years after default in some cases.

This bill reduces the statute of limitations in residential mortgage foreclosure actions from 20 years to six years from the date on which the debtor defaulted, in situations in which the date of default is used as the method to determine when the statute of limitations has expired.

Thus, the bill revises the alternative methods under the “Fair Foreclosure Act” for determining when the statute of limitations for the foreclosure of a residential mortgage has expired by providing that an action shall not be commenced following the earliest of: (1) six years from the date fixed for the making of the last payment; (2) thirty-six years from the date of recording of the mortgage; or (3) six years from the date on which the debtor defaulted.

This is great news for those homeowners that have been trying to resolve a home foreclosure for at least six years before the bank files for foreclosure.  The bill leaves a few unanswered questions which will no doubt come up in cases filed after the date of this bill.

Here is the Text of Assembly Bill No. 5001

ASSEMBLY, No. 5001
STATE OF NEW JERSEY
218th LEGISLATURE

INTRODUCED FEBRUARY 7, 2019

Sponsored by:
Assemblyman ANTHONY S. VERRELLI
District 15 (Hunterdon and Mercer)
Assemblyman RAJ MUKHERJI
District 33 (Hudson)
Assemblywoman VERLINA REYNOLDS-JACKSON
District 15 (Hunterdon and Mercer)
Senator TROY SINGLETON
District 7 (Burlington)
Senator STEVEN V. OROHO
District 24 (Morris, Sussex and Warren)
Senator DAWN MARIE ADDIEGO
District 8 (Atlantic, Burlington and Camden)

Co-Sponsored by:
Assemblywoman Murphy, Assemblymen Houghtaling and McKeon

SYNOPSIS
Revises statute of limitations for residential mortgage foreclosures.

CURRENT VERSION OF TEXT
As introduced.

An Act concerning certain mortgage foreclosures and amending P.L.2009, c.105.

Be It Enacted by the Senate and General Assembly of the State of New Jersey:

1. Section 1 of P.L.2009, c.105 (C.2A:50-56.1) is amended to read as follows:
1. An action to foreclose a residential mortgage shall not be commenced following the earliest of:
a. Six years from the date fixed for the making of the last payment or the maturity date set forth in the mortgage or the note, bond, or other obligation secured by the mortgage, whether the date is itself set forth or may be calculated from information contained in the mortgage or note, bond, or other obligation, except that if the date fixed for the making of the last payment or the maturity date has been extended by a written instrument, the action to foreclose shall not be commenced after six years from the extended date under the terms of the written instrument;
b. Thirty-six years from the date of recording of the mortgage, or, if the mortgage is not recorded, 36 years from the date of execution, so long as the mortgage itself does not provide for a period of repayment in excess of 30 years; or
c. [Twenty] Six years from the date on which the debtor defaulted, which default has not been cured, as to any of the obligations or covenants contained in the mortgage or in the note, bond, or other obligation secured by the mortgage, except that if the date to perform any of the obligations or covenants has been extended by a written instrument or payment on account has been made, the action to foreclose shall not be commenced after [20] six years from the date on which the default or payment on account thereof occurred under the terms of the written instrument.
(cf: P.L.2009, c.105, s.1)

2. This act shall take effect immediately and apply to residential mortgages executed on or after the effective date.

Filed Under: Foreclosure, Sheriff Sale Tagged With: Assembly Bill 5001, foreclosure lawyer, New Jersey Foreclosure

June 28, 2015 by Todd Murphy

How to Stop or Adjourn A Sheriff Sale in New Jersey

Sheriff Somerset County New JerseyA Home Owner Is Entitled To Two Adjournments of A Sheriff Sale Simply By Requesting One and Paying A Small Fee to The Sheriff’s Office. Here’s How to Stop or Adjourn A Sheriff Sale.

Scroll down to get an easy-to-use form to stop your sheriff sale right now.

It takes a long time in New Jersey to foreclosure on a home in New Jersey but ultimately, if the loan can’t be worked-out and brought current through a loan modification or a bankruptcy, most foreclosure cases end at a Sheriff sale.

You may find you need to stop or adjourn a sheriff sale to get more time to work-out a foreclosure or sell your house.

You are entitled to two adjournments for any or no reason. But only two.

An adjournment is lawyer-speak for temporarily stopping and postponing a court action or hearing, in this case, a sheriff sale.  

In a New Jersey foreclosure case once the plaintiff (your mortgage lender) has obtained final judgment, a sheriff sale may be scheduled.

The sheriff sale may be adjourned (postponed) by either the lender’s attorney or by you the homeowner.

Prior to 2019, the plaintiff was entitled to adjourn a Sheriff sale as may times as it wanted to for any or no reason but this rule was updated and now the attorney for the lender can only adjourn twice. You, the defendant (the home owner), have always been limited to two adjournments for any or no reason for two weeks each, however, also in 2019, the two weeks was updated to 30 days for each adjournment.

You have two 30-day adjournments available to. But once they have been used, they are gone forever.

This law was updated on April 29, 2019 and goes into effect on July 30 2019 changing the two week adjournments to 30-day adjournments – See the full article here on this and other foreclosure laws that have been amended in New Jersey.

In March 2020, Governor Murphy signed an executive order staying all evictions indefinitely.

Moratoriums Lifted November 2021.

In March 2020, Governor Murphy signed an executive order staying all evictions, and therefore sheriff sales, indefinitely for the COVID pandemic. As of November 2021, the moratorium has been lifted and sheriff sales are now again permitted.

As of January 2022, we have been overwhelmed with calls to adjourn or otherwise stop sheriff sales.

How Do I Get My Two Adjournments?

I have found over the years that all of the 21 County Sheriff offices across the State are staffed by extremely helpful individuals who make getting an adjournment easy.  

Each County has its own procedures and sets its own costs to request an adjournment but generally speaking, there is a small fee – usually $28 – to request an adjournment and it must be done in person (so you can pay the fee).

You must have all of the information for the property and the sheriff sale listing and the docket number and Sheriff sale number and property address and the date of the sale and simply asking for the adjournment.  

Some Sheriff offices have a simple form which you can fill-out and give to the Sheriff’s representative to request the adjournment.

We created an easy-to-use form for you.

So that you will have all of the necessary information with you when you arrive at the sheriff office, we created an easy-to-use form for you so you can get the sheriff sale adjourned quickly and easily.

Get your adjournment form here:

Submit your information here. The form will be emailed to you right away and can be used in every County in New Jersey.

 

Fill out my online form.

What Happens After I have Used My Two Adjournments?

Once you have taken your two adjournments, there are no more adjournments without asking a judge to intervene.

Motion to Stay A Sheriff Sale

If you have a very good reason, you may be able to ask a Judge by formally petitioning the Court and showing “good cause.”

For example, if you have a contract to sell your house and there will be enough money from the sale to pay-off the lender and some left over for you because you have equity in your house, that may be “good cause.”

If it becomes necessary to request and adjournment beyond the two 2-week adjournments, a formal request to the Court , known as a “motion” can be made but it must be for good cause.  

This is something better done by a lawyer and typically can be a little costly.  This additional adjournment is at the discretion of the judge and is only going to be granted for a very valid reason.

Homes Have Increased In Value Over the Last Year Creating Equity.

If your home can be sold for more than what you owe the lender, you may have equity in your property that you can’t afford to lose.

During this past year, home prices have soared in many towns in New Jersey creating equity that did not exist before.

Sell Your Home To Save Your Equity.

The recent increase in home values has provided an alternative to foreclosure that hasn’t existed in the past several years.

If your home can be sold at a price that can pay-off the loan and leave you with some money after closing, the option of perhaps selling your home may be a good option for you.

Get time to sell the house but only if you really have a legitimate contract.

There are many investors who are looking for properties to purchase and flip.

You may be approached by a real estate agent or investor on the eve of a sheriff sale offering to purchase your home. If so, you may need our help to review the contract quickly.

If you have a signed contract and can show a judge that your buyer has the funds to close and your lender will be paid in full and you will come out with some money too, the judge may adjourn the sherif sale to provide you and the buyer the time to get the house sold.

If you are approached by a buyer at the last minute, contact us right away to review the contract and petition the court for more time.

We can help you either save your house from foreclosure or to help you get more time to sell your house to save your equity.

Filed Under: Foreclosure, Sheriff Sale Tagged With: adjournment, foreclosure lawyer, Hunterdon County, Middlesex County, monmouth county, Morris County, sheriff sale, Somerset County

June 26, 2015 by Todd Murphy

Who Will Bid On A Home In A Sheriff Sale In New Jersey

foreclosure sheriff sale new jerseyOften only your mortgage lender will bid on a home in a Sheriff Sale in New Jersey at a foreclosure Sheriff sale.

So, what does that mean to you?

First, the Sheriff Sale process in New Jersey for home owners in  foreclosure is confusing and often scary.  The fear of losing your home is staggering and those who are involved in it have many questions. There are many little strategies that, when put together, can prolong the time you stay in your home.

Here’s one little strategy that can help.

At a Sheriff Sale for a home being foreclosed on in New Jersey, often the mortgage lender is the only bidder at the Sheriff Sale, particularly if the home is underwater (value of the home is less than what is owed to the first mortgage lender).  There usually isn’t anyone who would bid on a home at a price above market and the lender for some reason doesn’t yet want to face the fact that this loan is going to be closed-out at a loss.

The Bank Might Actually Be Happy That You Stay In The Home After The Sheriff Sale.

Why is this important?  Because if the lender is the only bidder, rather than an investor or buyer who wants to live in the home, the lender may not be in a rush to get you out of the home after the sale.  In fact, the lender might appreciate having someone living in the home and keeping it in reasonably good condition.

You Must Actually Be Evicted After A Sheriff Sale.

In another post, I will talk about eviction after a Sheriff Sale but for now just know that even after a Sheriff Sale, unless you leave the home freely, you must be evicted as if you were a tenant in the property and therefore are afforded certain protections under the law. For now, understand that is can be helpful to you if only the lender places a bid on a home in a Sheriff Sale In New Jersey.

Filed Under: Foreclosure, Sheriff Sale Tagged With: foreclosure, foreclosure lawyer, New Jersey, sheriff sale

October 20, 2014 by Todd Murphy

5 Tips to Choosing the Best Foreclosure Lawyer in New Jersey

Searching for the Best Foreclosure Lawyer in NJ?

Here are 5 tips to choosing the best foreclosure lawyer for your situation.

best foreclosure lawyer nj

 

  • A Focus on Foreclosure: Be sure your lawyer is well-versed in loan modifications and bankruptcy law – specifically chapter 13 cases. The loan modification is the primary tool your lawyer should be focusing on. Chapter 13 bankruptcy, sometimes used in conjunction with a loan modification, is one of a handful of tools that are often used to save a home from foreclosure and get a loan modification when others not obtainable. A chapter 13 bankruptcy case is much more complex than a typical no-asset chapter 7 “Fresh Start” case.
  • Experience: Be sure your lawyer has been handling foreclosure cases at least since 2008 when the current foreclosure crisis hit. Handling foreclosure cases regularly and for at least 5 years will ensure your lawyer knows the latest changes in the law and will understand the various strategies that are available to save your home from foreclosure.
  • Bankruptcy Knowledge is Not Enough: Be sure your lawyer is not just a bankruptcy lawyer who will only offer you the option of bankruptcy. Bankruptcy is not the only way to save a home from foreclosure and all options should be explored fully – with loan modification being the first of those possible solutions to explore.
  • Beware of Scams: Beware of lawyers, usually from out-of-state, that want to charge you a large initial retainer of $2,000-$3,000, with a monthly retainer of $500-$700 while they negotiate a loan modification for you.  Many times, this is a scam.
  • Loan Modification Expertise: It is crucial that your lawyer understands the importance of loan modification as the primary tool for saving a home from foreclosure. Loan modification solves the root of the issue, and should be your strategy if you qualify for one. Bankruptcy should only be a backup or secondary tool. Consider these tips carefully when you are looking for the Best Foreclosure Lawyer for your situation.

 

Todd Murphy dedicates his practice to saving peoples’ homes from foreclosure with offices in Bedminster (near Somerville) NJ. 

 

Wondering What You Should Ask A Foreclosure Lawyer Once You Get One On The Phone?

Ask the right questions: avoid scams!

It can be difficult to know what questions to ask your foreclosure lawyer to make sure that he/she is well-qualified for the task of saving your home from foreclosure. We have the top 5 questions you need to ask a foreclosure lawyer to make sure that he/she is right for the job, and to make sure you are not being scammed.

Click the button below to get your 5 questions to ask your foreclosure lawyer before you hire them.

 

Get My Questions

 

 

 

Filed Under: About, Foreclosure Tagged With: Bridgewater NJ, foreclosure, foreclosure lawyer, nj, somerville NJ

Primary Sidebar

(862) 305-4901

Search This Site

Footer

American Bankruptcy Institute Logo National Association of Consumer Advocates Logo
Avvo - Rate your Lawyer. Get Free Legal Advice.
Designated A Debt Relief Agency Under U.S.C. 528
( see required bankruptcy disclosures )
The materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. You should contact your attorney to obtain advice with respect to any particular issue or problem. Use of and access to this Web site or any of the e-mail links contained within the site do not create an attorney-client relationship between Todd Murphy Law and the user or browser.
Lawyer J Murphy | Featured Attorney Foreclosure
(862) 217 2361