Notice Of Intention to Foreclose Letter

New Jersey law requires that a servicer send a borrower a Notice of Intention to Foreclose letter at least thirty days before filing a complaint against a borrower in connection with a foreclosure lawsuit involving a primary residence. Although this notice might seem routine, it is a significant legal document signaling the start or impending start of the foreclosure process.

Requirements Of The New Jersey Fair Foreclosure Act

Under the New Jersey Fair Foreclosure Act, N.J.S.A. 2A:50-56, your servicer must send this notice via registered or certified mail, allowing the borrower at least thirty (30) days to cure the default. It is a serious legal document that should be treated as such. A foreclosure defense attorney can help defend against the impending foreclosure action.

Receiving a Notice of Intention to Foreclose does not mean the process is final. Borrowers have options, including contacting the lender for a loan modification, exploring alternatives like a short sale, or filing for bankruptcy.

Immediate action and legal advice are crucial upon receiving this notice. An attorney can help you understand your rights and work towards the best solution for your situation.

If you have received a Notice of Intention or have related questions, contact Friscia & Associates today. Call us at (973) 500-8024 or (212) 960-8308, or submit your contact information online.