Prepared by Kathleen Magoon, Supervising Foreclosure Attorney and Christopher DeNardo, Managing Partner, Shapiro & DeNardo, LLC, serving PA + NJ 2019 was a busy year in New Jersey, with nine new statutes enacted that impact mortgage foreclosure. In addition to these statutes, the Legislature and the Courts are heavily promoting borrowers’ entry into the Court’s sponsored Mediation Program.
Further, the Courts and the Office of Foreclosure introduced a new wrinkle in the Mediation Program in that once a borrower accepts a trial loan modification, the Court will close the case. In a measured effort to remove matters from the Docket, the Court takes the position the case will be considered “settled” upon the borrower’s acceptance of an offer of a trial loan modification. |
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This blog post is provided for educational and informational purposes only and is not intended and should not be construed as legal advice or used as a substitute for competent legal advice. By using this information, you understand that there is no attorney-client relationships between you and the author of this post. |
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