New Jersey Overhauls its Mortgage Foreclosure Laws
Financial Services attorney Bob Jaworski and Litigation attorney Victoria LeCates describe a nine-bill package aimed at ending New Jersey's foreclosure crisis. The bills expand mediation, create additional licensing requirements and shorten the statute of limitations applicable to foreclosures, among other measures. They represent a bi-partisan response to a 2018 report detailing the foreclosure crisis and providing recommendations to address it. New Jersey has the highest foreclosure rate of any state.