This form is a Complaint to Foreclose on a Residential Mortgage for use in foreclosure proceedings within the state of New Jersey.
New Jersey Complaint to Foreclose Residential Mortgage
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If the lender is successful at the end of foreclosure proceedings, it will obtain a final judgment approving the foreclosure and a Writ of Execution.Once the Writ has been received, the Sheriff must schedule an auction for the property within 120 days.
It is a lengthy process with strict rules for mortgage lenders and multiple opportunities for you to save your home (or arrange the most favorable alternative). According to Nolo.com, New Jersey has the third-longest foreclosure timeline. The average is 1,161 days (38 months) from that first foreclosure notice.
If you choose to file an answer, you must do so within 35 days from the date that you receive the summons and complaint; and you must include a completed Foreclosure Case Information Statement, a Certification Pursuant to Court Rule 4:5-1 and the $175.00 filing fee ($250 for Answers with Counter-Claim, Cross-Claim and/
Although lenders in New Jersey will usually initiate foreclosure proceeding after three missed payments, legally, a lender may consider a mortgage delinquent as soon as one payment is missed.
Notice of Intention to Foreclose The lender must send the notice at least 30 daysbut not more than 180 daysbefore filing a complaint. The notice notifies you that you are behind in your mortgage payments and gives you 30 days to cure the default.
Phase 1: Payment Default. Phase 2: Notice of Default. Phase 3: Notice of Trustee's Sale. Phase 4: Trustee's Sale. Phase 5: Real Estate Owned (REO) Phase 6: Eviction. The Bottom Line.
You can file an answer to respond to the plaintiff's Complaint. An answer is a formal statement, in writing, of your defense to the lawsuit. You can say that what the plaintiff claims is not true. Or you can say it is true but give more information and reasons to defend your actions or explain the situation.
As of around mid-2019, New Jersey law requires the sheriff to conduct the foreclosure sale within 150 days, instead of within 120 days, of the sheriff's receipt of a writ of execution.