NJ Foreclosure Redemption: Explained

If you have recently “lost” your home to New Jersey foreclosure, you may be wondering if there is anything you can do to get your home back before it is sold at auction. In fact, there are some very effective, tried and true methods that can be used to prevent your lender from proceeding with the Sheriff’s Sale – as long as you take action before the sale has already commenced.

Unfortunately, many people who are in similar situations to yours live in denial for a long period of time before taking any action regarding their home’s foreclosure. Burying your head in the sand is common in times like these because this is such an undesirable life event that can be very hard to face. Most people dealing with foreclosure never intended to lose their home and can spend months hoping for a miracle.

This leads to homeowners who finally take action at the last minute (or very close to the last minute). While it is easy to panic if your home is scheduled for Sheriff’s Sale very soon, is not recommended. The same is true if your home has already been sold at Sheriff’s Sale.

Remaining calm is key. If you have not taken action before the date of your foreclosure sale, you have likely already experienced the start of the eviction process. After your home has been sold via foreclosure sale, your last Hail Mary option is to take advantage of the redemption period.

In the State of New Jersey, the foreclosure redemption period is an extremely small window of time during which you may still be able to save your home. The New Jersey foreclosure redemption time-frame is 10 days. Therefore, you have 10 days after your home has been sold at Sheriff’s Sale to redeem the property and take back ownership.

It should be noted that there are no exceptions made during the NJ foreclosure redemption period. If you do not take action within the 10 days immediately following the foreclosure sale, you will have lost the last opportunity to buy back your home.

In NJ, homeowners who are attempting to redeem, or buy back, their previously owned home after it has been sold at a foreclosure sale, must refinance or pay the outstanding balance on their mortgage in full.

Insider Info: Because New Jersey is a judicial foreclosure state, lenders are required to file a lawsuit when they proceed with foreclosing on a home. The entire foreclosure process must be documented within the New Jersey court system. This gives some New Jersey homeowners a second opportunity to buy back their foreclosed homes, but only if their lender files a deficiency judgment after the Sheriff’s Sale.

If your lender files a deficiency judgment after your home sells at foreclosure sale, your New Jersey foreclosure defense attorney can help you bring action for redemption within six months after your lender has filed for deficiency judgment. This is a feat designated for experienced foreclosure and real estate attorneys and should not be attempted with a less-experienced professional.

To learn how to buy back your home via redemption after deficiency judgment, ask your NJ attorney ASAP.

If your home has been sold at a New Jersey Sheriff Sale and you’re interested in redeeming either during the 10 day redemption period or after a deficiency judgment – you must contact an experienced New Jersey foreclosure defense attorney TODAY.

Take action now before your chance to redeem your home truly passes. Be sure to ask your attorney about the new Senate proposal regarding NJ foreclosure stays to find out if it can be of help in your unique situation.

Image: “Keys.” by Linus Bohman – licensed under CC 2.0

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Understanding a NJ Home Inspection Report

For those who are looking to buy or sell a home, the home inspection is a crucial part of the process.Whether you are the buyer or the seller of a property, you must have a solid understanding of all of the details found in your New Jersey home inspection report. This report will ultimately determine the overall condition of the property in question, and will specifically itemize any problems, both large and small.

Typically, the home inspection is ordered by the home buyer after they have signed a purchase contract. It is important to work with a professional, licensed and well-respected home inspector to ensure that nothing substantial is missed.

While the seller is required to disclose any and all existing issues with the house, they can only disclose problems that they are aware of. The job of the home inspector is to dig beneath the surface to find problems that may not be visible to the untrained eye, such as damage to any area of the home including: the foundation, pipes and plumbing, HVAC system(s), electrical systems, roof, walls, attic, ceilings, floors, doors and windows.

After he has inspected your potential future home, your NJ home inspector will provide you with a detailed report. This report will explain any and all findings of the home inspection. Some home inspection reports can run upwards of 30 pages, which can be a little bit intimidating to the novice home buyer.

Understanding Your Home Inspection Report

Home inspection reports can also come in different formats. Some home inspection teams report with a checklist, while others use a summary along with a longer narrative portion explaining the summary in detail.

Typically, home inspection reports will include a table of contents for ease of navigating through each portion of the report. Professional home inspection teams will include an introductory portion that provides important industry definitions along with details about the report, including: date completed, home address, age of the home, weather conditions during the report, and people who were present during the inspection.

Following any introductory sections will be the meat of any home inspection report. This portion of the report should be divided into areas of the home or home components that the inspector evaluated. Here, notes will be made and details will be listed about the condition of each home area/component (roof, plumbing etc.) along with suggestions, recommendations and any applicable photos and or videos that the home inspection team acquired during their review of the home.

Is a Home Inspection Really Necessary?

It is extremely important that anyone looking to purchase a home invests in a home inspection during the contingency period of the home purchase. Any New Jersey real estate contract/purchase contract is conditional until the home inspection has been completed. This means that the contract is not official until after the home inspection and can be terminated if there are significant issues discovered by the home inspector.

Many times, minor issues can be negotiated between the buyer and the seller, allowing the sale to proceed. Aesthetic changes, such as fresh paint or minor kitchen repairs can be added to the contract as the seller’s responsibility. Before closing, the buyer will have a final walk-through of the home, at which time they can determine whether or not all of the requested repairs have been made as agreed to in the contract.

 

Image by Andy Piper – licensed under CC 2.0

How the New Jersey Senior Freeze is Making a Difference

Property taxes are defined as taxes that are collected by the local jurisdiction in which a real property is located; the amount of property taxes any homeowner owes is based on the assessed value of the home(s) they own multiplied by the current tax rate in their local jurisdiction. New Jersey’s average property tax rate is one of the highest in the United States.

Owning a home in the Garden State has a lot of benefits, and those of us who are living and raising a family here wouldn’t dream of doing it anywhere else. We may have to grit our teeth every time the quarterly tax bill makes its appearance, but pay it we do. Life in New Jersey is worth it – offering tight-knit neighborhoods, reputable public schools, and, of course, the Jersey Shore! However, as NJ homeowners reach retirement age, many have begun struggling to keep their homes, in many cases because they’ve fallen behind on their property taxes.

As New Jersey’s real estate market continues to take hits, lawmakers are now taking steps to help struggling seniors so they don’t have to leave the state in order to afford to own a home. The Property Tax Reimbursement Plan, commonly called the “Senior Freeze,” is one of the programs that is making a real difference.

Under the Senior Freeze, or the PTRP, New Jersey seniors who meet a list of requirements will be eligible for reimbursement of the cumulative increase in their property taxes since the first year they became eligible, which is called the base year.

In order to qualify for property tax increase reimbursement under the Senior Freeze program, New Jersey seniors:

  • Must have lived in New Jersey for at least ten consecutive years – either renting or owning their own home
  • Have resided in the home they currently own for a minimum of the last three consecutive years
  • Should be at least age 65 or have a spouse who is at least 65 year of age – ALTERNATIVELY – those who do not meet the age requirement but are receiving Federal SSDI (disability) benefit payments can also qualify
  • Must meet specific income requirements

The year in which New Jersey seniors are able to meet all of the above eligibility requirements is considered their base year. The base year is essentially the year in which their property taxes will be “frozen,” so to speak. Any increase in their NJ property taxes that they have paid out since the base year will be repaid to them.

Ex: Ruth turned 65 in the year 2010. She has lived in and owned her current New Jersey home with her husband for 20 years, and she also met all of the additional requirements in 2010. Ruth will be reimbursed using this formula: The property tax amount she paid in 2017 (current year) minus the amount she paid in property taxes in her base year (2010). The difference equals her reimbursement amount.

Every year forward, Ruth’s property taxes will remain frozen at the amount she paid in her base year of 2010. Combined with assistance from the Homestead Benefit Program, New Jersey senior citizens have a better chance at maintaining their standard of living into retirement, and they can continue to enjoy the wonderful Garden State for many years to come.

 

 

 

 

Hiring the Right Professionals for Your NJ Real Estate Purchase

When it comes time to purchase a home, whether you’re a first-time home buyer or an experienced home buyer, you want to put together a superior professional team. In doing so, you will give yourself the best chance at landing the home of your dreams within your price range and ideally, within your desired timeframe.

Living in the technology era makes it extraordinarily easy to access information regarding almost any topic – and this includes the real estate market. While any tech savvy home buyer can access a home’s stats, asking price and any other information associated with the listing, does this mean that you don’t need to hire a realtor? And while were at it, who else do you need to hire help you bring this thing “home?”

Real estate professional/agent

While it’s true that you can easily access listing information about virtually any property that is listed on the MLS (Multiple Listing Service), it is imperative that you take the time to research, interview and select the right real estate agent.

Real estate agents have so much more to offer you than what you can find with the click of your computer mouse, namely: experience. The right real estate agent for you will become your advocate and will help you get the best deal possible. Experienced real estate professionals can also make the home buying process more effective by helping you narrow down specifically what you are looking for in a home.

While it is possible for you to go it on your own without a real estate agent, it is not advisable unless you have solid experience in the real estate field yourself.

Lending agent/mortgage company

Naturally, you’re likely going to need to mortgage this significant purchase, and choosing the right mortgage company can make a big difference in your overall satisfaction with the home buying process.

Look for a lender who is highly reputable in your area and has solid reviews from customers as well as a good BBB rating. The ideal lender will present you with a variety of different mortgage programs and down payment options. They should be able to tell you rather quickly how much house you can afford. Quick response time and a history of in-house processing, underwriting and funding are also important factors that many home buyers find invaluable.

Real estate attorney

The process of buying a home is a very serious transaction with a plethora of details and minutiae. A financial decision as large as buying real property has many legal issues that only an experienced New Jersey real estate attorney is qualified to answer properly. No real estate agent should be giving you legal advice about your home purchase. Everything from translating legalese within the purchase contract to tax obligations and any existing or surprise property liens is best handled by your lawyer.

Working with a real estate attorney is especially crucial if you are purchasing a home via NJ short sale or Sheriff’s Sale (foreclosure). The added legal implications surrounding these types of home buying cement your need for a New Jersey real estate attorney who also specializes in foreclosure defense.

Title agent/company

Most experienced real estate attorneys can also perform title searches, but title companies have one job and one job only: making sure the home that you purchase has a clear title search. You will probably still want to purchase title insurance, as there is no guarantee that long-lost liens on the property will pop up in the distant future, but this is a decision that your real estate attorney can help you make along with your title agent.

Home inspector

Soon after you sign a purchase contract, you will be given the opportunity to do a professional home inspection on the property before the contract becomes official. In order to avoid making a significant financial blunder in purchasing a house that is wrought with problems, it is essential that you hire a home inspection company or professional home inspector who has substantial experience under his belt. Your home inspector will be able to discover any existing structural problems with the home that either weren’t disclosed by the seller or weren’t known to the seller. You will then be able to work with your real estate agent to either negotiate to have repairs made (at the seller’s expense), or, cancel the transaction if a satisfactory compromise cannot be made.

 

 

NJ Mortgage Help for Single Parents

Going through a separation and divorce is never easy, but the complication level increases when you add children to the mix. Establishing a stable family life for your kids is something every good parent strives to do, and divorce can throw a wrench into even the best laid plans.

Supporting the expenses required as a newly single parent is a daunting task as you attempt to maintain as much constancy and normalcy for your children as possible. To that end, the marital/family home is most often where divorced parents elect for their children to remain living.

With that being said, finances don’t always stretch far enough for one parent on their own to pay the mortgage on that family home, along with all other monthly expenses. If both parents are able to pitch in financially to keep the children and one parent in the home, the chances of losing the home are lower. However, the threat of foreclosure for recently divorced single parents is real, and although frightening, it is not something that will go away if you ignore it.

If you are a single parent fighting to keep the home your children have thus far grown up in, you may be overwhelmed by the responsibility of making that monthly mortgage payment on your own. Missed payments are common after significant life events like job loss, illness, death, and, you guessed it – divorce.

The bank will never throw me out since I have young children, right?

Unfortunately, too many people simply give banks and lenders a lot more credit than they deserve. Your bank does not care if you have children, an elderly parent, three sick dogs and a chronic illness – their bottom line is money. You may think, “But there are people working at that bank; surely there is someone there with enough empathy to see that I am struggling.”

While that may be true – of course there are kind people working in banks and lending institutions – they must follow the instructions they are given by their superiors. A mortgage loan that is not being paid on time or at all WILL be sent into foreclosure by the lender. The question is not “If” but “When.”

How can I keep the bank from foreclosing? I just need a little more time!

The best move you can make if you’re in a similar situation is to take action before your home is foreclosed upon by your lender. You may qualify for a loan modification or refinancing. A New Jersey foreclosure and bankruptcy attorney should be the next person you call. Not many attorneys specialize in both areas, so it is important that you work to find a certified NJ attorney who has the experience you need.

Why do I need a bankruptcy attorney? I’m not broke and I want to keep my home.

An experienced NJ attorney who handles both foreclosure defense and bankruptcy matters will be able to stall your foreclosure by using the Automatic Stay. This tactic can only be utilized if the debtor files for bankruptcy.

Even if filing for bankruptcy was not on your top ten list of things to accomplish in life, it is a means to an end that has helped a multitude of people in your exact situation before.

 

Image: “Mother’s Moment” by Leonid Mamchenkov – licensed under CC 2.0

Bankruptcy Law and Family Law: How They’re Connected

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Anyone who has been through a divorce knows that, second only to your love life, your finances are often the hardest hit area during a split. Many people continue to have financial difficulties long after their divorce is finalized, as well. Family lawyers who handle divorce cases know from experience that financial strife can be a huge contention between divorcing couples.

While your family law attorney will assist you in creating a Property Settlement Agreement that settles some of your money troubles (you may begin receiving child support or alimony payments after the divorce is finalized), oftentimes divorced couples will struggle with things like losing their family home to foreclosure, credit card debt, and potential bankruptcy.

As much as your divorce attorney may want to assist you with all of the above money matters, they have to focus their attention on everything within their own wheelhouse to ensure that you (and their other clients) achieve the desired outcome from your divorce. Their duties are many, and include drafting your PSA, attending court dates, negotiating and corresponding with counsel for your soon-to-be ex-spouse, handling domestic violence matters, and much more.

Frequently, family law attorneys find it very beneficial to work in tandem with an attorney who specializes in bankruptcy, real estate and/or debt relief. Because financial strain is a given in most divorces, it can be helpful for everyone involved to work as a team. Your divorce (family law) attorney will walk you through all of the steps of your divorce. With your permission, ideally he would then discuss your case with his tandem bankruptcy attorney, whom you would then work with to clean up your finances.

Of course, family law attorneys attend to matters other than divorce, like name changes, parenting time, grandparents’ rights, pre-nuptial agreements, child custody (unrelated to divorce), adoption, restraining orders, and domestic violence. Some of these matters can also be made easier by working with an attorney who specializes in finances. For example, the financial aspect of adoption matters can be quite intense. While your family law attorney will handle much of the adoption paperwork, he can refer you to a financial specialist like Veitengruber Law if you need more help organizing the necessary finances.

Every attorney has a lot on their plate every single day, regardless of their practice area(s). The best attorneys limit their focus to a limited number of practice areas so as not to get overwhelmed and spread too thin. If your family law attorney attempts to do it all himself, you may find that he’s too busy to set aside time to keep you updated on your case. On the other hand, a smart divorce lawyer will say, “Hey, while I’m working on negotiating your child visitation schedule, why don’t you go see George Veitengruber to start sorting out the fact that you can’t afford your mortgage payment?”

When attorneys work together, their clients always have a better result. Mutually beneficial relationships between experienced professionals give clients a well-rounded experience and optimal outcome. Veitengruber Law welcomes family lawyers in New Jersey (Monmouth, Ocean, Mercer, Burlington, Camden, and Gloucester Counties) to reach out to our firm if and when your clients need our services. We will gladly return the favor so that our mutual clients are well-cared for and happy with our services.

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Multi-Generational Living Arrangements & Home Ownership Rights

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Today’s modern families are ever-shifting in a multitude of directions, some of which were made possible by the evolution of our nation’s legal system. Still other present-day families form when an adult “child” returns to live at home after attending college, job loss, divorce, or simply by choice. Additionally, many older parents live with a daughter or son and their family in order to cut costs and to share child-rearing duties of the next generation.

Regardless of the reason, the changing structure of the typical American family can raise some questions about ownership of the family home. When other adults outside of the original home owner live together, what are their rights if that homeowner passes away?

Example: Single mom Nicole and her mother decide the best course of action after Nicole’s divorce is for the two of them to move in together. Nicole’s husband kept the marital home, so Nicole and her two children move into her mother’s more-than-ample house. As Nicole’s father passed away several years ago, this decision will allow companionship for Nicole’s mother, and will relieve the financial burden on both women.

Something important for Nicole and her mother to think about is what will happen to the home when Nicole’s mom passes away? Assuming the current living situation continues until such a time, what will Nicole’s rights be?

In New Jersey, Nicole and her mother can modify the home mortgage paperwork to include special language that will protect Nicole and her children from losing the home upon the death of her mom. The deed to the home must say that Nicole and her mother are joint tenants with right of survivorship.

Joint tenancy means that both parties named own the property equally, and upon the death of one of them, the deed to the home will automatically transfer to the other, superseding anything that is stated in the decedent’s will.

If Nicole’s mother had previously created a will indicating that upon her death, her home should be divided equally between all three of her children (Nicole and her two siblings), as long as the proper language was added onto the title documentation, Nicole should have no problem being granted full ownership of the home.

While in theory this is a relatively simple concept, it must be handled with the utmost seriousness and attention to detail.  As has happened in the past, if the joint tenancy language is not used precisely as required, legal disputes can and likely will arise.

Do you have questions about your rights to real property that you shared with another family member or unrelated roommate who has now passed away? If you were not joint tenants, you may still have some recourse, but you will have to act swiftly and with the aid of a very experienced NJ estate planning/real estate attorney.

If you’re currently in a situation like Nicole’s, be proactive and make sure that your living arrangements are solidified for the future by taking title of the home in joint tenancy.

Image credit: Bryan Anthony

Can a NJ Lender Foreclose for Late Payments Only?

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Like millions of Americans who own their own homes, your largest monthly bill is most certainly your mortgage payment. This is especially true if you’ve wrapped your property taxes in with your mortgage loan. Paying your mortgage each month can feel physically painful at times, especially if you have to write out all of those numbers on a paper check. OUCH.

Nonetheless, you obviously knew what you signed up for when you applied for your current mortgage, so its appearance each month doesn’t necessarily come as a surprise. Why, then, are so many Americans habitually late in paying for this particular loan?

The answer to that is simple. A large percentage of homeowners in this country are living paycheck to paycheck – earning just enough money every month to fulfill their financial obligations. This leads to tense moments when there simply aren’t sufficient funds in the bank to make the huge mortgage payment without fear of bouncing a check.

Nobody wants to bounce a check – we all know that. The hassle combined with added fees from your bank AND your lender mean that bouncing a check is an extremely costly mistake. Instead of potentially writing a check that can’t be cashed, many homeowners simply wait until their bank account has enough money to fulfill the mortgage payment. Sometimes this means the mortgage payment gets sent in a few days (or weeks) late.

The question here, is: Can a lender foreclose on a homeowner if they are chronically late with their mortgage payment? To clarify, we’re talking about a borrower who hasn’t actually missed any payments and technically isn’t “behind” on their mortgage – only slightly late with nearly every payment.

The short answer is that almost no lender will move toward foreclosure if the borrower isn’t actually behind on payments. That’s not to say it has never happened, but if it has, it’s exceedingly rare. In most cases, lenders don’t send out ‘Intent to Foreclose’ notices until a borrower has missed 3 full mortgage payments. Some lenders will threaten foreclosure after one missed payment, but as long as you can bring the mortgage current, they back down.

What can happen to you if you consistently pay your mortgage (or any other monthly bills) late is that your credit score can drop. Even though you may avoid foreclosure, late payments are often reported to credit reporting agencies, and each late payment will ding your score a few points. If you’re late every month for a year, your score may have dropped over 100 points.

If you’re currently struggling to pay your mortgage in a timely manner, there are some things you can do. First, check your credit score to see how much damage you’ve done. That gives you a good starting point. Next, get in touch with your lender and tell them why you’re having trouble paying on time. You may benefit from changing the time of month that your payments are due, paying online, or paying via telephone when your bank account is primed and ready.

If none of the above options is enough to alleviate your tardiness, you may benefit from applying for a NJ loan modification. You can apply for one on your own, but many times a real estate attorney can negotiate with your lender much more effectively, working to extend the life of the loan, reduce the principal amount due, erase late fees, and maybe even lower the interest rate on the loan. One or a combination of these modifications can make paying your mortgage on time much more manageable.

 

Image credit: John Lloyd

Second Mortgages After Foreclosure: Who Pays?

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What is a second mortgage?

Oftentimes, when applying for a home loan, first time home buyers don’t have enough money to make a substantial down payment. Typically, lenders don’t like to grant loans for more than 80% of the price of a home. Lending so much money to a borrower is risky, so banks who do so will require that the buyers purchase private mortgage insurance (PMI). Mortgage insurance is expensive, so borrowers try to avoid it by applying for two separate mortgage loans. The first loan granted is usually for a maximum of 80% of the purchase price, while the second mortgage covers the remaining cost of the home – typically around 20%.

Who can get a second mortgage?

In order to be approved for a second mortgage (also referred to as an 80/20 loan), you must have a very good credit rating. Because you won’t be making any down payment, you are a higher risk to your lenders. A high credit score (above 700) puts lenders at ease, knowing that you have a solid credit history.

What happens to a second mortgage after foreclosure?

Even well-qualified buyers can experience foreclosure. As they say, “Life happens,” and a variety of factors may cause you to become unable to continue making your monthly mortgage payments even if you had great credit when you bought your home. For example, you may have experienced:

  • Divorce
  • Chronic illness
  • Accident or injury that permanently reduced your earning potential
  • Job loss
  • Unforeseen expenses (death or disability of a close relative, job transfer, etc)

Upon foreclosure of your home, your primary mortgage lender (80%) will sell your home at Sheriff’s Sale/Foreclosure Sale in order to recoup at least some of the money you borrowed but were unable to repay. Any sale proceeds that exceed what you owed your primary lender will be used to pay back your second mortgage lender.

Home sold at foreclosure sale almost always sell for less than they are worth. This means that second mortgage lenders often don’t see any proceeds from foreclosure sales. The second lender is left holding the (empty) bag, as the saying goes.

Will I have to repay the second mortgage if the foreclosure sale price is below market value?

Naturally, this is a pressing question for homeowners who’ve lost their homes to foreclosure. No one decides to go through foreclosure because they have plenty of money floating around. If you’ve lost a home to foreclosure, you’re understandably concerned about the potential of a deficiency judgment.

A deficiency judgment is a legal action that a lender can take against you for the amount of money they lost when your home was sold at Sheriff’s Sale. Many lenders will write off the loss due to the cost and hassle of mounting a legal action. However, some lenders do indeed pursue a lawsuit against defaulted borrowers whose homes were sold at foreclosure for less than the amount still owed.

How can I repay my second mortgage? I’m already in financial distress!

If your second mortgage lender has threatened you with legal action unless you pay up, you need to be proactive by retaining counsel. You can file for bankruptcy, which will automatically prohibit ALL of your creditors from attempting to collect money from you. Your NJ bankruptcy attorney can also take other action to settle your second mortgage debt if you wish to avoid chapter 7 bankruptcy.

Image credit: Chris Potter

My Personal Property was Sold Without a Writ of Possession!

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If your mortgage was in default and your home entered the NJ foreclosure system, the end result is sale of the property at what is commonly called a sheriff’s sale. At the end of the foreclosure process, if you have not retained a NJ foreclosure defense attorney to help you keep your home, a judge will order the local sheriff’s office to sell the property at a public sale. All proceeds from the sale will be paid directly to your lender to help them recover at least some of the money they lost when your loan defaulted.

Many foreclosure clients wonder what will happen to all of their personal property inside the home after the sheriff’s sale. Without knowing your rights, you may risk losing valuable and sentimental items. Even for homeowners who have accepted the foreclosure of their home, the loss of everything inside the home may indeed be heartbreaking at a time that is already wrought with tension.

The legal angle here is that no one – not your lender, the sheriff’s office or the new owners of your home – has the right to remove your personal property without first legally informing you of their intentions to do so.

Writ of Possession: Translated

After your property is sold at sheriff’s sale (also commonly referred to as foreclosure sale), the law requires that a legal document called a Writ of Possession be filed before you may officially be forced to vacate your home. The same must occur before anyone may remove any of your personal belongings from the property.

If you have experienced the loss of your home via foreclosure, and subsequently, sheriff’s sale, you need to be served with a copy of this Writ of Possession before anyone can “kick you out of” your home.

The Writ of Possession is essentially an order directly from the court to the sheriff’s office, granting them permission to officially evict you (and all of your belongings) within one day. If you have been served with a Writ of Possession (they are typically required to be posted on the front door of the property), please be aware that you have 24 hours to vacate and to take anything with you that you wish to keep.

Sometimes distressed New Jersey homeowners are not formally living in the home at the time of the Sheriff’s Sale, therefore they do not receive proper notice regarding the Writ of Possession. If this has happened to you, and your personal belongings were removed from your home without warning, you may have a valid cause of action.

It is important that you retain the services of an experienced New Jersey attorney who specializes in mortgages (real estate matters) and foreclosure defense. This type of attorney will be an expert at dealing with the NJ foreclosure system and all of its nuances, which will translate to the best results for you and your family.

If you are currently struggling to pay your mortgage and would like to avoid foreclosure at all costs, your foreclosure defense attorney will be able to counsel you on how to keep your home. To schedule a free consultation with Veitengruber Law to explore your options, click here!

 

Image credit: Janet Hudson