THE FORECLOSURE PROCESS

In this segment, I will discuss the mortgage foreclosure process as a follow-up to an earlier overview concerning your available options when facing a foreclosure. I am focusing on the process in New Jersey, but most of these procedures are the same in New York. The initial step taken by the lender is to notify you regarding the approaching 90 day default time limit. Such notice typically arrives once you have missed at least two months of mortgage payments. The mortgage