New Jersey Foreclosure Process and Laws


Quick Facts About the New Jersey Foreclosure Process

Judicial Foreclosure Available: Yes

Non-Judicial Foreclosure Available: No

Primary Security Instruments: Mortgage

Timeline: Typically 90 days

Right of Redemption: Yes

Deficiency Judgments Allowed: Yes

The state of New Jersey allows foreclosure of property using mortgage default by the judicial foreclosure process.

Judicial Foreclosure
The judicial foreclosure is just a simple process.The government declares how much the borrower’s debt is. Together with this, he is given a certain grace period to pay this amount. The inability to pay will then the clerk of the court will then put up the property for sale. This requires a notice of sale that must be posted in the following places:

  • County office where the property is
  • Property in foreclosure
  • Two newspapers in the county

It is the responsibility of the lender to inform the borrower of the said foreclosure. It must be done 10 days before to the foreclosure sale.

It is at the lender’s discretion to decde if there is a deficiency judgement. At the same time, the borrower can redeem property 10 days after the foreclosure sale.

Foreclosure Avoidance Counseling

HUD-approved housing counseling agencies are available to provide you with the information and assistance you need to avoid foreclosure. As part of President Obama’s comprehensive Homeowner Affordability and Stability Plan (HASP), you may be eligible for a special Making Home Affordable loan modification or refinance, to reduce your monthly payments and help you keep your home.

If you need help understanding the Making Home Affordable programs, you can use this search tool to find a counseling agency in your area that will provide you with free foreclosure prevention services. If you are eligible for the loan modification or refinance program, the counselor will work with you to compile an intake package for your servicer.

Foreclosure prevention counseling services are provided free of charge by nonprofit housing counseling agencies working in partnership with the Federal Government. These agencies are funded, in part, by HUD and NeighborWorks® America. There is no need to pay a private company for these services.

Newark Field Office

One Newark Center

1085 Raymond Boulevard
13th Floor
Newark, NJ 07102-5260

Phone: (973) 622-7900

Fax: (973) 645-2323

TTY: (973) 645-3298

Diane J. Johnson
Field Office Director
Office Hours: 8:00 a.m. to 4:30 p.m.

Monday through Friday

Camden Field Office

800-840 Cooper Street, 2nd Floor
Camden, NJ 08102-1156

Phone: (856) 757-5081

Fax: (856) 757-5373

Michael J. Worth
Field Office Director

Office Hours: 8:00 AM to 4:30 PM
Monday through Friday