Blog

A new law (P.L.2012, Chapter 70, approved December 3, 2012) that authorizes lenders to bring summary actions to foreclose mortgages on “vacant and abandoned” residential property became effective on April 1, 2013.  It permits a lender, at any time after the filing of a foreclosure complaint, to apply to the court for authority to proceed in a summary manner on the basis that a residential property is “vacant and abandoned.” Under the law a lender must still follow certain procedures, in addition to those set forth in the "Fair Foreclosure Act" and the Rules of Court, to secure a foreclosure judgment through the summary process. And there must be clear and convincing evidence that the residential property is indeed “vacant and abandoned.” If the foreclosure judgment includes a finding that the property is “vacant and abandoned,” the sheriff must sell the property within 60 days of receipt of any writ of execution issued by the court. If the sheriff cannot comply within that time period, the law authorizes the foreclosing plaintiff to apply to the court for an order appointing a special master or judicial agent to hold the foreclosure sale. The summary action procedure is not intended to supersede or limit other procedures adopted by the Supreme Court to resolve residential mortgage foreclosure actions, including foreclosure mediation.