NJ Supreme Court Declares Law Firm’s Subsequently Recorded Mortgage Trumps Factoring Company’s Earlier Recorded Optional Advance Mortgages
Mortgage Priority Optional Advances New Jersey
In a unanimous decision issued on July 21, 2016, the New Jersey Supreme Court affirmed the Appellate Division's decision granting priority to a law firm's subsequently recorded mortgage over the pre-existing recorded mortgages held by a factoring company.
We initially reported on this case in 2015 wh...
No Foreclosure For You, says New Jersey Trial Court to Lender
In an unpublished decision issued on June 30, 2016, a Bergen County trial judge granted summary judgment in favor of homeowners by declaring the lender's foreclosure complaint was time barred under the 6-year statute of limitations period commencing from the maturity date of the loan. Anim Investment Co. v. Shaloub, Superior Court of New Jersey, La...