FORECLOSURE PROCESS

In New Jersey, a notice of foreclosure (letter) may not begin by a lender unless the borrower is 30 days behind in payments. The notice states that the entire mortgage will be due unless payment is made within 30 days. After an additional 30 days (or 60 days past payment), a complaint may be filed with the Court. After the complaint is filed, the Sheriff has 40 days to serve the complaint on the homeowner and all creditors. After receipt, the borrower has 35 days to file an answer. If the borrower fails to answer, the lender must send a “Notice of Intent to Enter Foreclosure Judgment” letter. A Judgment for Mortgage foreclosure and the sale of the property is entered 45 days later. A Writ of Execution is issued and sent to the Sheriff to list the property for sale within 6 months. The homeowner and creditors are served with notice of the Sheriff’s sale and notice must also be given to anyone with a lien (2d mortgages, judgments, etc.) The homeowner gets two (2) automatic adjournments of the Sheriff sale without cause/reason. A third request to post-pone requires a reason and court order.

After this judgment, the Sheriff has 30 days to serve the Writ of Possession and the occupant has 20 days to move. If they fail to move after 20 days, the Sheriff will assign an eviction date 30-90 days from judgment.