Questions & Answers


Is New Jersey a judicial foreclosure state?

Answer


New Jersey is a judicial foreclosure state. While the foreclosure process in non-judicial foreclosure states do not require court invention, the foreclosure process in judicial foreclosure states are processed through the courts. The involvement of the courts in judicial foreclosures is advantageous to the troubled borrower facing foreclosure as the judicial foreclosure process. The judicial foreclosure process is comparatively beneficial to the distressed borrower in foreclosure to the extent that the process affords the borrower several opportunities to defend against the foreclosure lawsuit. Moreover, the judicial foreclosure process is much slower than the non-judicial process, which effectively gives troubled homeowners a longer period to both live in his or her home and to negotiate with his or her servicer in pursuit of a workout option. NJ foreclosure defense attorneys can guide those facing foreclosure through the complexities of the foreclosure process.

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