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Foreclosure Law Summary


Judicial Foreclosure Available: Yes

Non-Judicial Foreclosure Available: No

Primary Security Instrument: Mortgage

Timeline: Typically 90 Days

Right of Redemtion: Yes

Definiency Judgements Allowed: Yes

In New Jersey, lenders may foreclose on a mortgage in default by using the judicial foreclosure process.



Judicial Foreclosure

Generally, in judicial foreclosure, a court decrees the amount of the borrowers debt and gives him or her a short time to pay. If the borrower fails to pay within that time, the clerk of the court then advertises the property for sale.

Once the process begins, a foreclosure notice must be:

  1. Posted in the county office of the county where the property is located
  2. Posted on the property in foreclosure
  3. Published in two (2) newspapers in the county

The lender must also notify the borrower at least ten (10) days prior to the foreclosure sale.

It is possible for the lender to obtain a definiency judgment and borrowers have a right to redemption and/or objection within ten (10) days after the sale.

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