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New Jersey Order Respecting Request for Extension or Early Termination of Loss Mitigation

Category:
New Jersey Bankruptcy - Official - Local District
State:
New Jersey
Control #:
NJ-SKU-0184
Format:
PDF
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Description

Order Respecting Request for Extension or Early Termination of Loss Mitigation The New Jersey Order Respecting Request for Extension or Early Termination of Loss Mitigation is a court order issued to homeowners in New Jersey who are facing foreclosure. It grants either an extension of time for a homeowner to catch up on their mortgage payments or an early termination of the foreclosure process. The order applies to all mortgages with a principal balance of $400,000 or less in New Jersey. This order is intended to help to struggle homeowners while protecting the rights of mortgage lenders. There are two main types of New Jersey Order Respecting Request for Extension or Early Termination of Loss Mitigation: the Extension Order and the Early Termination Order. The Extension Order grants a homeowner additional time to make mortgage payments and avoid foreclosure. The Early Termination Order terminates the foreclosure process and allows the homeowner to keep their home. The court will consider the homeowner’s financial situation when deciding whether to grant either order.

The New Jersey Order Respecting Request for Extension or Early Termination of Loss Mitigation is a court order issued to homeowners in New Jersey who are facing foreclosure. It grants either an extension of time for a homeowner to catch up on their mortgage payments or an early termination of the foreclosure process. The order applies to all mortgages with a principal balance of $400,000 or less in New Jersey. This order is intended to help to struggle homeowners while protecting the rights of mortgage lenders. There are two main types of New Jersey Order Respecting Request for Extension or Early Termination of Loss Mitigation: the Extension Order and the Early Termination Order. The Extension Order grants a homeowner additional time to make mortgage payments and avoid foreclosure. The Early Termination Order terminates the foreclosure process and allows the homeowner to keep their home. The court will consider the homeowner’s financial situation when deciding whether to grant either order.

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