Insights
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In a January 28th article for the New Jersey Law Journal, Day Pitney partner and Consumer Finance and Creditors' Rights practice group chair Joy Harmon Sperling and associate Kathy Trawinski analyze the implications of a recently signed New Jersey law allowing an expedited foreclosure process on property that has been judged vacant and abandoned. Joy and Kathy write, "Proponents of the act hope that it will help stabilize the residential real estate market by reducing the time it takes to complete certain foreclosures, and thereafter return the property to an occupied status, by permitting the lender to have the sheriff conclude a sale in short order. It is anticipated that the act will benefit both lenders and borrowers and, therefore, New Jersey as a whole, by reducing the cost and time associated with litigating residential mortgage foreclosure actions."
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This website may use cookies, pixel tags and other passive tracking technologies, including Google Analytics, to improve functionality and performance. For more information, see our Privacy Policy. By using our website, you are consenting to our use of these tracking technologies. You can alter the configuration of your browser to refuse to accept cookies, but if you do so, it is possible that some areas of web sites that use cookies will not function properly when you view them. To learn more about how to delete and manage cookies, refer to the support instructions for each browser (e.g., see AllAboutCookies.org). You may locate Google Analytics' currently available opt-outs for the web here.
