2012- New Wave

Posted by kevin on January 26, 2012 under Foreclosure Blog | Comments are off for this article

2011 was a slow year for foreclosures in NJ.  The robo-signing issue put practically all foreclosures on hold.  When the NJ Supreme Court finally gave the go ahead to most of the banks to continue with foreclosure action, the banks decided to sit on the fence for two reasons: first, to get a ruling from the Supreme Court of NJ  on what exactly must be presented in a Notice of Intent to Foreclose and what the penalty for non-compliance is; and second, to see if the national robo-signing deal pushed by the Obama administration could be effected.  As of this date, neither has occurred.  However, if I were a betting man, I would bet that the NJ Supremes will come down with their decision in the Notice of Intent to Foreclose case (Guillaume) before the people in Washington get off their duffs.  In fact, that decision should come down any day now.

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