Walking away in New Jersey

NJ-KittyKat

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Feb 1, 2012
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Any updates from anyone on this thread? I am considering walking in NJ. My main concern is a DJ down the road. Would love to hear updates from others in NJ. Thanks.
 
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ooodsie

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Apr 25, 2009
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the only update here is that we are still in limbo.. no NOD yet and its been 1.5 years. we are afraid of the laws changing or getting a DJ so we are actually thinking of listing it for short sale now and see what happens with that.
 

ooodsie

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Apr 25, 2009
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I hear in 2012 it's changing so that you owe tax on the sale amount variance once you are foreclosed on.
 

PatZZ

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Jan 30, 2011
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Any updates from anyone on this thread? I am considering walking in NJ. My main concern is a DJ down the road. Would love to hear updates from others in NJ. Thanks.

There is yet another delay with foreclosures in NJ as lenders/attorneys wait on the outcome of the case "U S Bank vs Guillaume." Supreme Court is supposed to hand down a decision soon. The decision relates to small but significant caveat of the Notice of Intent to Foreclose. Defense attorneys are hoping that the decision will require a slew of foreclosures to be backed up to step one and lenders will have to start all over again. Most attorneys are reluctant to get started, incur all the fees, and then have to refile everything all over again. The Supreme Court decision is expected any day.

Anyone in a tenable situation should constantly search Google for "New Jersey Foreclosures" and other searches so you know what's going on out there." Information is your friend.
 

PatZZ

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FYI for anyone in NJ, I was searching for info about NJ Homekeeper and found comments about it not being very effective. Poor response to people who apply. Only 54 people approved after 8 months. Although it was never intended to help very many people, 54 does seem extremely low. Why do all these programs have such dismal results? It's pretty darn bad when a program designed to help the unemployed will not approve the unemployed. There's talk about it here New Jersey Homekeeper Programhttp://www.newjerseyhomekeeperprogram.info.
 

sheshy

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Aug 18, 2011
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NEW JERSEY
Hi kittykat I just checked back after all this time. Well I'm a year in now and have not paid my mortgage since August 2011 and also stopped paying my property taxes August also. The mortgage company JPMC are paying my taxes now. I received Mod's and did submit 2 of them but have not done so in a few months. They say the ratio to what I make income is possible for me to pay. Not possible for me. Just received papers from a law firm obtained by JPMC for foreclosure. I have not read through yet or made contact. I will keep you posted.
 

sheshy

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Aug 18, 2011
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NEW JERSEY
Hey Cat D it's been awhile but I have not paid mortgage and taxes for a year now. Just received papers in the mail 2 days ago from an attorney obtained by JPMC for foreclosure. Just wondering what that means in a time table of how long I have. I will fill out more MOD papers to hold them off. Husband still unemployed which means I can't even really MOD is he is not working. So buying time is what I'm doing with hopes that he will return to work then I can negotiate with them but things are taking longer then I thought for him going back to work.
 

JerseyCity07305

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Feb 28, 2010
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It's been awhile since I posted on the forum. We moved out back in February this year into a great area! I've found out that there is a rash of foreclosures in my old condo complex. I feel so bad for the people we left behind. It's not fair to them to pick up the slack but I had to do what was best for my family.

Anyway, we received notice from law firm that Seterus won a default judgement - this was back a couple of months ago. Since then we have heard nothing. We still get the daily phone calls and request for modification letters however.

So now I'm trying to find out when the unit gets put up for auction since paying HOA fees for over two years now really ****s. It would be nice to put that $500 back into our pockets. I searched some foreclosure websites and I was able to find other units in my complex listed as Active Foreclosures but I can't find ours.

Anyone know how long after a default judgement is won that the house gets put up for auction? Any good sites I could go to? It just seems like whatever progress was being made has come to a screeching halt.

Hope all you NJ folks are hanging in there!
 

PatZZ

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Jan 30, 2011
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It just depends. Sometimes properties sit for months and months in foreclosure limbo - even after default judgment is granted. Lenders on top of their game will check the foreclosure stats in a community and if there are too many homes up for auction, they will hold back since they believe a flood of auctions will impact the sale.

Are u still paying $500/mo for the condo dues? Nice of you.

Hope things work out.
 

mybaby

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Mar 29, 2011
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in nj. just rec'd final judgement...have not paid for 25 months..would love to know how long.
 

PatZZ

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in nj. just rec'd final judgement...have not paid for 25 months..would love to know how long.

Would love to know how long . . . what?
 

PatZZ

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sorry, how long sheriff's sale from point of rec. final judgment.

If you have never visited the NJ court access site, you should go there and search through some foreclosure cases to see how long it takes on average. That's the best thing to do. Go to: ACMS Public Access

Select "locate by docket"
Select a County in the dropdown box or choose "Statewide"
Select "Foreclosure" from the drop down box.
Enter a docket number. It must be 6 digits & you can't leave it blank. The sequence starts at 000001 for the first case filed for 2012 and goes up from there.
Choose the docket year. The later the case was filed in 2012, the less chance there has been a Final Judgment. You might want to search 2011.

Last, on the right, click "Case Document List." THis will give you a history of docs filed in the case. Be sure to notice at the top of the documents page if there is a down arrow next to the word "Page." This tells you there is more than one page of documents filed. Often, there is more than one page for cases that have progressed.

Try to find cases that have a final default and sheriff sale and see how long it took. This might take some time to find a case because you have to keep going back to enter new docket numbers. It is NOT designed to be a search engine like a Google. And eventually, the system will log you out & you'll have to log back in.

Searching through cases like this can actually provide a huge amount of information.

But be aware sometimes the bank might not want to hold title to the property (just yet) and they intentionally delay scheduling the sale. The courts and the sheriff may have nothing to do with it. Instead, your specific property, your bank, your situation, the other foreclosures in your area, etc could impact when the sale is set.
 
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ascssmith

LoanSafe Member
Mar 5, 2013
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thank you! i will check the site
Hello everyone, I'm in New Jersey, I started my walk August 1st 2012, my story is like everyone else's, townhouse has (2) mortgages, for a total of $290k, recent sales in association $146k, needless to say bank won't go that low on short-sale. I'm a single parent, youngest is finishing college in May, my job ends in June of this year, so I'm leaving my house in June, to move down south to live near my oldest daughter.

My questions are as follows:

  1. I haven't heard from GMAC since December, letters saying I'm behind, I never contacted them as I knew I was walking away from this house, so how do I proceed?
  2. Do I contact them and tell them I'm giving the house back in June?
  3. Do I contact 2nd mortgage also, as I haven't had any contact with them except a letter every once in awhile stating I'm delinquent
  4. When should I contact them, if at all to let them know I moved out and where the keys are?
  5. I've read a lot of posts and blogs talking about "Deficiency actions"; and amazingly NJ doesn't really go after Residential customers for the deficiency of loan value. so I'm hoping that stays in my favor.
  6. As everyone else that is in this process or has completed it knows, this is VERY stressful, worrying about someone coming and kicking you out, going after savings account; thankfully I don't use GMAC as my bank, so I think I'm ok, then worrying about them trying to garnish my wages after I move...


Anything anyone can say or help with, I'd really appreciate it... I have to say this "Forum site" is a God send to all of us going through this difficult process and thank you from the bottom of my heart...

Al
 

JerseyCity07305

LoanSafe Member
Feb 28, 2010
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I just received an settlement offer from second. Looks like they are asking for 30%. I originally offered 5% about 18 months ago but I never heard back from them - until now. I'll browse through the forum for tips on negotiating but I would be happy in the 10%-12% range.

I might have to sell lemonade in order to cobble together the funds....

And thanks PatZZ for the link to the court access system. I was able to find our case. It doesn't look like it's too far along relative to some of the other cases I found. I'll keep monitoring it though.
 

JerseyCity07305

LoanSafe Member
Feb 28, 2010
137
3
0
Hello everyone, I'm in New Jersey, I started my walk August 1st 2012, my story is like everyone else's, townhouse has (2) mortgages, for a total of $290k, recent sales in association $146k, needless to say bank won't go that low on short-sale. I'm a single parent, youngest is finishing college in May, my job ends in June of this year, so I'm leaving my house in June, to move down south to live near my oldest daughter.

My questions are as follows:

  1. I haven't heard from GMAC since December, letters saying I'm behind, I never contacted them as I knew I was walking away from this house, so how do I proceed?
  2. Do I contact them and tell them I'm giving the house back in June?
  3. Do I contact 2nd mortgage also, as I haven't had any contact with them except a letter every once in awhile stating I'm delinquent
  4. When should I contact them, if at all to let them know I moved out and where the keys are?
  5. I've read a lot of posts and blogs talking about "Deficiency actions"; and amazingly NJ doesn't really go after Residential customers for the deficiency of loan value. so I'm hoping that stays in my favor.
  6. As everyone else that is in this process or has completed it knows, this is VERY stressful, worrying about someone coming and kicking you out, going after savings account; thankfully I don't use GMAC as my bank, so I think I'm ok, then worrying about them trying to garnish my wages after I move...


Anything anyone can say or help with, I'd really appreciate it... I have to say this "Forum site" is a God send to all of us going through this difficult process and thank you from the bottom of my heart...

Al
Al -

My approach to this whole thing has been simple: NO CONTACT.

Other than a half ass attempt at a settlement with the second mortgage about two years ago, I have had ZERO contact with either mortgage companies. No phone calls, no response to written letters, pretty much nothing.

Several members here have used the opposite tactic and are in constant communication with their lenders. At the time when I started this whole thing it seemed as if the different approaches all led to the same result.

We're all subjected to the lenders and states timelines really. I'm not sure anyone can be effective by trying to dictate when particular things are going to happen. If you want to tell them "I'm leaving in June" that's fine. It won't change the pace of the process any (as far as I can tell anyway).

Others might chime in with a differing opinion though.
 
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