How foreclosure works in New Jersey
- Notice of Intention to Foreclose (NOI). Under the New Jersey Fair Foreclosure Act, a lender must send an NOI at least 30 days before filing a residential foreclosure. It explains how much is needed to cure the default.
- Court case. New Jersey is a judicial foreclosure state: the lender files a complaint in Superior Court. You can respond, and owner-occupants can request the New Jersey Foreclosure Mediation Program.
- Judgment and sheriff’s sale. If the lender gets a final judgment, the property is sold at a sheriff’s sale run by the county sheriff. Owners have limited rights to adjourn the sale date.
- Until the sale, you still own the house. That means you can still sell it, refinance, or work out a resolution with the lender.
Your options (it’s not just us)
- Catch up (reinstate) or set up a repayment plan with the lender.
- Loan modification or forbearance — a housing counselor can help you apply.
- Sell the house (traditional listing or direct sale) and pay off the loan from the proceeds.
- Short sale, if you owe more than the house is worth (requires lender approval).
When a fast, direct sale makes sense
- If you have equity, selling before the sheriff’s sale may let you keep what’s left after the payoff, instead of risking it at auction.
- A cash sale doesn’t depend on a buyer’s mortgage approval, which matters when there’s a sale date on the calendar.
- We never ask sellers for upfront fees, and we don’t do arrangements where you sign over your deed and “rent back” your home. You get a straightforward purchase with a title company or attorney handling the closing.
Frequently asked questions
I already have a sheriff’s sale date. Is it too late?
Not necessarily. Contact us and your attorney right away — time is the key factor.
Will selling hurt my credit?
The missed payments are already reported; selling and paying off the loan typically stops the foreclosure from being completed. Ask a housing counselor about your specific situation.
What if I owe more than the house is worth?
That may require a short sale with lender approval. We can talk through whether that’s realistic.
Where we buy
Cliffwood Beach · Old Bridge · Aberdeen · Lakewood · Toms River · Jackson · Howell · Brick · Freehold · Middletown · Keyport · Long Branch · Asbury Park · Neptune · Manchester
This page is general information about New Jersey processes, not legal or tax advice. Rules change and every situation is different — consult a New Jersey attorney, accountant, or HUD-approved housing counselor about your specific circumstances.