Legal Question in Real Estate Law in New Jersey

Mortgage Default
In 1990 I entered into a (Legal/Registered) Mortgage Note for $20,000 as the lender, with two individuals as a second mortgage on a home I sold them in New Jersey. The loan was @ 11% interest. After less then 2 years of making payments they sold the home and relocated to Florida with the promise to continue making payments. The payments stopped and I could not locate them.
I moved to South Carolina in 2005 and recently found that they are living in Florida. They each live in seperate cities.
The loan balance is approximately $14,000 plus all the years interest.
What do I need to do to get the money I'm owed? Are there juristictional issues with NJ/FL and how do I proceed? What type of judgement/lien should I pursue?

Thank you very much!

Asked on 12/10/07, 5:18 pm

John Corbett Corbett Law Firm LLC

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Re: Mortgage Default

Is there a reason why you didn't foreclose on the mortgage?

See also: http://info.corbettlaw.net/lawguru.htm

Answered on 12/10/07, 10:09 pm

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