A law enacted in 2010 called the New Jersey Foreclosure Fairness Act (“NJFFA”), found in N.J.S.A. 2A:50-69 to -71, offers valuable protections to residential tenants living in foreclosed properties. Specifically, new owners of a property acquired through foreclosure are required to serve residential tenants with a detailed written notice inform...
In an unpublished opinion issued on June 25, 2014, the New Jersey Appellate Division cited principles of equity in rejecting a homeowner's request to vacate a sheriff’s sale based on his allegation of not receiving notice of the sale date in strict compliance with New Jersey Court Rule 4:65-2. The Court affirmed the Chancery Judge's ruling ...
In an unpublished decision issued on July 31, 2014, a Bergen County Chancery Judge fined a mortgage lender over $26,000 in legal fees for violating the New Jersey Consumer Fraud Act in connection with a residential loan refinance involving a then 70-year old woman residing in Englewood, New Jersey. Freedom Mortgage Corp. v. Mamie E. Major, Superi...
In a stunning reversal of fortune, HSBC Bank was ordered to pay over $54,000 in legal fees incurred by homeowners who successfully fended off a foreclosure suit based on HSBC's inability to prove ownership of the underlying mortgage and note. HSBC Bank vs. Nini, A-1941-11T1 (App. Div. , Unpublished, April 30, 2014). According to the Appellate ...
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