Blogs > NJ Real Estate Dispute

foreclosure

Feb 17, 2012

Foreclosed Homes = Affordable Housing

Senators Ray Lesniak and Barbara Buono have introduced legislation (S-1566) to transform foreclosed homes into affordable housing.  The bill would create the New Jersey Foreclosure Relief Corporation and would allow municipalities to buy foreclosed houses through the state’s $268 million affordable housing trust fund, and thereby earn two-for-one credit toward their affordable housing obligations.   » Read More

Dec 22, 2010

Deed In Lieu Transaction in the Commercial Real Estate Setting

The Great Recession has resulted in an inevitable increase in commercial loan defaults (See my post of November 15, 2010, “Lender/Tenant Concerns When a Landlord Defaults on Its Mortgage“).  Any lender will tell you that it would rather avoid foreclosure for obvious reasons. » Read More

Oct 27, 2010

Primer on Tax Sale Certificates

Many people are in the dark when it comes to tax sales, including many lawyers.  Because municipal governments depend upon real estate taxes and other related assessments as their primary source of revenue, when those taxes remain unpaid for a period of time, the municipality is granted a continuous lien on the land for the delinquent amount, as well as for all subsequent taxes, interest, penalties, and costs of collection.   » Read More

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