Category Archives: Foreclosure

How Long Do You have to Wait to Get a Mortgage after a Foreclosure, Short Sale, or Deed-In Lieu of Foreclosure in New Jersey

Mortgage after a Foreclosure, Short Sale, Deed-In Lieu in NJ. I. Mark Cohen Law Group, Tintnon Falls NJ

by: Jonathan Goldsmith Cohen
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I frequently get asked how long it takes to obtain a mortgage after having gone through a foreclosure, short sale, or deed-in-lieu of foreclosure in New Jersey. I would like to give you some guidance and answer these questions to the best of my ability. Please keep in mind that this information is for guidance purposes only. How long does it exactly take? You will know for sure when you have approval on that new mortgage. Continue reading

How Long Does it Take to Foreclose on a Home in New Jersey?

How Long Does it Take to Foreclose on a Home in New Jersey?
by: Jonathan Goldsmith Cohen

Until this year, it took about three years for a property to go into foreclosure and be sold at a sheriff’s sale after a homeowner stopped making regular mortgage payments. New Jersey had one of the slowest time frames for foreclosures in the nation. This lulled many delinquent homeowners into a false sense of security, or at the least, the ability to avoid dealing with their delinquent mortgage and pending foreclosure for a significant period of time. It also provided the luxury of time when attempting a mortgage modification. Continue reading