In a published decision issued on October 4, 2018, the New Jersey Appellate Division issued a controversial ruling that allows a homeowner to pursue a claim against Bank of America under the New Jersey Truth-in-Consumer Contract, Warranty and Notice Act (TCCWNA) due to the defendants' failure to identify the lender's name and address in several pre ... Read More.
In this post we examine New Jersey law governing a commercial tenant's rights in the context of a foreclosure suit filed by the landlord's mortgage lender. If you are a commercial tenant whose landlord is being sued in foreclosure, or a lender contemplating whether to name a tenant in a foreclosure suit then this post is a must read. A lease betwe ... Read More.
Joinder of Non-Owner Spouses in New Jersey Residential Foreclosure Cases Assume the following scenario: Ralph Kramden purchases a residential investment property while single, and obtains mortgage financing to fund the purchase price. The property Deed is in Ralph's name only, as are the mortgage and promissory note that Ralph signed in favor of ... Read More.
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 ... Read More.