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.
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