Title 2A, Title 2A: ADMINISTRATION OF CIVIL AND CRIMINAL JUSTICE

2A:50-55 Definitions. 3. As used in this act: "Deed in lieu of foreclosure" means a voluntary, knowing and uncoerced conveyance by the residential mortgage debtor to the residential mortgage lender of all claim, interest and estate in the property subject to the mortgage. In orde…

2A:50-56 Notice of intention to foreclose. 4. a. Upon failure to perform any obligation of a residential mortgage by the residential mortgage debtor and before any residential mortgage lender may accelerate the maturity of any residential mortgage obligation and commence any fore…

2A:50-56.1 Statute of limitations relative to residential mortgage foreclosures. 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 i…

2A:50-56.2 Response by servicers to offer relative to short sale. 2. a. A servicer shall respond to a good faith offer from a seller, seller's agent, or authorized third party to purchase the property through a short sale within 60 days of the date of the offer. A response would …

2A:50-56.3 Dismissal of action, reinstatement. 2. a. If a plaintiff's action to foreclose a residential mortgage has been dismissed without prejudice pursuant to R.4:64-8 of the Rules Governing the Courts of New Jersey of the State of New Jersey, reinstatement of the plaintiff's …

2A:50-56.4 Certification of diligent inquiry. 1. a. In addition to any other requirements under law, regulation or court rule, in all residential mortgage foreclosure actions, an attorney filing a foreclosure complaint shall include a certification of diligent inquiry. The certif…

2A:50-56a Creditor, foreclosure proceeding, agent, responsible, property, vacant, abandoned, immunity, liability. 3. a. In situations in which a creditor has instituted a foreclosure proceeding pursuant to the "Fair Foreclosure Act," P.L.1995, c.244 (C.2A:50-53 et seq.) and a cre…

2A:50-57. Curing of default 5. a. Notwithstanding the provisions of any other law to the contrary, as to any residential mortgage for which a notice of intention to foreclose is required to be given pursuant to section 4 of this act, whether or not such required notice was in fac…

2A:50-58 Application for entry of final judgment; entry of order of redemption. 6. a. (1) If a plaintiff's action to foreclose a residential mortgage is uncontested, pursuant to R.4:64-1(a) of the Rules Governing the Courts of the State of New Jersey and the plaintiff chooses not…

2A:50-59. Reinstatement of mortgage relationship 7. If a debtor is successful in curing the default under a repayment plan approved by the United States Bankruptcy Court, the residential mortgage relationship between the parties is reinstated, and the debtor is restored to the sa…

2A:50-6. Bonds; notice of proposed judgment by confession or action on No judgment shall be entered by confession on any bond or note where a mortgage on real estate has been or may be given for the same debt or in any action on the bond or note, unless, prior to the entry of the…

2A:50-60. Federal law not limited, modified 8. Nothing herein is intended to limit or modify any provision of federal law regarding notice of the availability of homeownership counselling. L.1995,c.244,s.8.

2A:50-61. Waivers against public policy, unlawful, void 9. Waivers by the debtor of rights provided pursuant to this act are against public policy, unlawful, and void, unless given after default pursuant to a workout agreement in a separate written document signed by the debtor. …

2A:50-62. Nonapplicability of act 10. The provisions of sections 1 through 9 of this act shall not apply to the foreclosure of a non-residential mortgage nor to collection of the obligation by means other than enforcing the lender's lien on the residential property. A lender shal…

2A:50-63 Optional foreclosure procedure. 11. a. An optional foreclosure procedure without sale for the disposition of a foreclosed premises is hereby established pursuant to subsection b. of this section, wherein a lender may elect to proceed according to the provisions of this a…

2A:50-64 Procedures for sale. 12. a. With respect to the sale of a mortgaged premises under foreclosure action, each sheriff in this State shall provide for, but not be limited to, the following uniform procedures: (1) Bidding in the name of the assignee of the foreclosing plaint…

2A:50-65. Provision of judgment creditor's address for service 13. Any judgment creditor shall, upon entry of judgment in the office of the Clerk of the Superior Court, provide the Court with its current address for service. If the judgment creditor's address for service changes,…

2A:50-66. Letter in lieu of appearance by Attorney General 15. a. The United States Attorney for the District of New Jersey may send a letter to the Clerk of the Superior Court of New Jersey which notes the appearance of the Attorney General of the United States and states that n…

2A:50-67. Partial payment 17. In the absence of an express agreement between the parties to the contrary, a debtor may tender, and a lender may accept, partial payment of any sum owing and due without either party waiving any rights. L.1995,c.244,s.17.

2A:50-68. Regulations 18. The Attorney General, in consultation with the Commissioner of Banking, shall promulgate regulations pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14A-1 et seq.) necessary to implement this act, including, but not limited to, regu…

2A:50-69 Short title. 1. This act shall be known and may be cited as the "New Jersey Foreclosure Fairness Act." L.2009, c.296, s.1.

2A:50-7. Record of notice of proposed judgment by confession or action on bond; fees The county clerk or register of deeds and mortgages, as the case may be, shall forthwith record the notice required to be given by section 2A:50-6 of this Title, together with the time of the fil…

2A:50-70 Notice to tenants, protection from eviction. 2. a. A person who takes title, as a result of a sheriff's sale or deed in lieu of foreclosure, to a residential property containing one or more dwelling units occupied by residential tenants, shall provide notice to the tenan…

2A:50-71 Inducing tenant to vacate property prohibited. 3. a. No person, or the person's agent or employee, who has filed a complaint in an action to foreclose a mortgage on a residential property, as described in section 2 of P.L.2009, c.296 (C.2A:50-70), or who takes title to a…

2A:50-72 Supersedure. 6. The provisions of any regulation, ordinance, rule, or resolution of any municipality, county or other subdivision of the State, or any agency or instrumentality of that municipality, county or other subdivision, relating to foreclosure practices, or the e…

2A:50-73 Summary action to foreclose mortgages on certain properties. 1. a. For the purposes of this section, "vacant and abandoned" residential property means residential real estate with respect to which the mortgagee proves, by clear and convincing evidence, that the mortgaged…

2A:50-74 Short title. 1. This act shall be known and may be cited as the "New Jersey Foreclosure Mediation Act." L.2019, c.64, s.1.

2A:50-75 Findings, declarations relative to foreclosure mediation; definitions. 2. a. The Legislature finds and declares that the New Jersey Judiciary established a Foreclosure Mediation Program in 2008 in response to the increase in residential foreclosures. This act ensures the…

2A:50-76 Written notice of eligibility to participate. 3. a. A homeowner-borrower shall receive written notice from the residential mortgage lender of the option to participate in the Foreclosure Mediation Program in accordance with the court rules, procedures, and guidelines ado…

2A:50-77 Participation in mediation. 4. a. (1) A court may order mediation whenever a homeowner-borrower files an answer to a foreclosure complaint. (2) Alternatively, the homeowner-borrower may initiate mediation in accordance with court rules. The courts shall provide the homeo…

2A:50-78 Certification document; attendance; sanctions, penalties. 5. a. Whenever a homeowner-borrower initiates mediation or is ordered to participate in the mediation program, that homeowner-borrower shall be responsible for submitting a certification document to the court, con…

2A:50-79 Recording of results, publication on website. 6. The Judiciary shall record the result of each foreclosure mediation session, and compile this information into an accessible format so that the frequency of the program's success can be identified, and shall publish the co…

2A:50-8. Action on bond where lien or mortgage has been extinguished by foreclosure of prior mortgage When any debt is evidenced by a bond or a note and is secured by a mortgage on real property and the lien of the mortgage has been or shall be extinguished by the foreclosure of …

2A:50-80 "Foreclosure Mediation Fund." 7. There is created in the General Fund a dedicated, non-lapsing fund to be known as the "Foreclosure Mediation Fund," to be held separate and apart from all other funds of the State. The Foreclosure Mediation Fund shall be administered by t…

2A:50-81 Findings, declarations. 1. The Legislature finds and declares that: a. The Foreclosure Mediation Assistance Program administered by the New Jersey Housing and Mortgage Finance Agency provides trained foreclosure prevention and default mitigation counselors for homeowner-…

2A:50-82 "New Jersey Foreclosure Counseling Fund" established. 2. a. There is established in the General Fund a separate, non-lapsing, dedicated account administered by the Department of Community Affairs to be known as the "New Jersey Foreclosure Counseling Fund." b. The funds w…

2A:50-9. Judgment on bond not to open foreclosure and sale; right of redemption The recovery of a judgment in an action pursuant to section 2A:50-8 shall not open the foreclosure and sale of the mortgaged premises or result in any right of redemption. Amended by L.1979, c. 286, s…