We
represent secured creditors throughout New Jersey and New York in
foreclosure actions. A typical uncontested judicial foreclosure in New Jersey requires
12-14 months to complete. New Jersey has one of the longest time frames in
the entire country to complete a foreclosure action. However, we
manage our timelines to knock months from that average.
Our New York clients are served through our co-venture in the
law firm of Fein, Such & Crane, LLP. While the time frame
for New York is generally shorter, the foreclosure process continues to be a
lengthy and frustrating one for the creditor.
Our Foreclosure Practice Area's philosophy is simple: We
believe in the efficient use of available resources to eliminate or reduce
delays associated with the lengthy foreclosure process. We are cognizant
of the high costs associated with judicial foreclosure and seek to minimize
those expenses to our clients on a daily basis.
In prosecuting a foreclosure action, we help our clients by
identifying and implementing loss mitigation initiatives, such as deeds-in-lieu
of foreclosure and short sales. These loss mitigation efforts usually
present a "win-win" situation for both our client and the borrower,
thus minimizing some of the negative attributes associated with the foreclosure
process.
In addition to handling the straightforward foreclosure of the
borrower's equity in "redemption", our department also represents
clients in contested litigation, the correction of defects that impair the
eventual titles to the transferred at foreclosure sale, the defense of
counterclaims (e.g., Alleged Fair Debt Collection, RESPA violations), bankruptcy
proceedings, and the eviction of former owners and their tenants, if authorized
by state law. As a result, our associates are well known and successful
advocates in all levels of the state and federal court system.
We pride ourselves on being one of the strongest creditors' rights firms in
both New Jersey and New York. We are one of only three firms selected by Freddie Mac to
handle its foreclosure matters in New Jersey, as well as one of only three firms
selected by Freddie Mac to handle its foreclosure matters in New York. We
are also extremely proud to have been selected to the Fannie Mae Attorney
Retention Network for both states, making Fein Such the only firm designated by
Freddie Mac and retained by Fannie Mae, in both New Jersey and New York.
In our Library, you will
find article written by our attorneys, as well as FAQ's and links that address
the foreclosure process in greater detail.
If you have a question about a foreclosure matter, please
contact Alan Such,
Managing Shareholder of our Foreclosure practice area.
