Legal Question in Real Estate Law in New Jersey

mortgage

Hello, I am a credit manager for a Southern California corporation. Our client is interested in placing their New Jersey home as collateral for exchange of a line of credit with our company. Please advise on the best way to proceed with this type of transaction. Does a New Jersey attorney have to be contacted or will a SoCal attorney be sufficient as well? I can be reached through this email address or directly contacted at (800) 332-2771 ext. 14. I look forward to your response.


Asked on 4/23/03, 2:09 pm

2 Answers from Attorneys
Benjamin Laves Benjamin S. Laves, Esq.

Re: mortgage

Mortgage documents may be prepared by out of state companies/attorneys, but they should have a working familiarity with local (state) laws. Best to use a NJ attorney - you should do the necessary credit/due diligence work to reduce your costs. You will want a promissory note, mortgage, affidavit of title, title insurance policy and possibly other documents before money is advanced. If you wish to discuss the retention of my services please email me at [email protected] or call (973) 731-5110

Read more
Answered on 4/24/03, 3:08 pm
Steven Rothberg Law offices of Steven D. Rothberg

Re: mortgage

If you are intending to get title insurance for the loan, you should contact a title insurance company and they will handle it. I work for Lawyers Title, so you could put the deal through my office. I would say that a California Attorney could draft the mortgage document.

Read more
Answered on 4/23/03, 2:20 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in New Jersey