Legal Question in Real Estate Law in New Jersey

I am a 2nd lien holder on real property, have not been paid for several years, borrowers are now seperated, house is vacant, 1st lien holder has started foreclosure 3 times and they always work out a payment plan with the bank but never pay me anything. 2nd lien and note are filed with the county, I am now concerned that I will never see my money. Can I start to forclose as the 2nd lien holder.

Thank you for your time


Asked on 2/26/10, 8:47 am

2 Answers from Attorneys

Robert Davies The Davies Law Firm, P.A.

Yes, you can foreclose if you hold a lien and have not been paid and your note and lien document (probably a mortgage) were properly drawn up to allow foreclosure.

However, life is not so simple. You will need to review this with an attorney. You should have a clear idea as to what the property is worth now, and you should try to find out how much is owed on the first mortgage.

I would be happy to see if I can assist you. Please give me a call to talk it over. The telephone discussion will be free of charge, and I will let you know what I believe I can do to assist you further. My contact information can be obtained from the links below, just click on the Attorney Profile link. Let my secretary know you found me through LawGuru.

Disclaimer: This answer is based only on the statements you have made, and may not be accurate. Your question and any response does NOT create an attorney-client relationship between you and this law firm. You can not rely on the statements made by an attorney given over the internet. The exact facts of your situation, including facts which you have not mentioned in your question, may completely change the result for your situation.

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Answered on 3/03/10, 8:57 am
Bernard J. Berkowitz Berkowitz & Raiken

Yes, you can foreclose if the your lien has been properly recorded. However, you will get the property subject to the first mortgage which you would be come reponsible to pay and any outstanding real estate taxes. You should see an attorney with your original papers to start the process. If you call and mention Law Guru the first consultation is free. If you want further help please contact me.

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Answered on 3/03/10, 9:11 am


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