Legal Question in Real Estate Law in New Jersey

Re: Property Trust

Please, please, please. If you were hurt falling down the stairs and broke your leg, you would not have your cousin fix it.

Please call a lawyer near you who handles real estate and also lawsuits, an attorney who has handled some foreclosures. Get some expert advice.

The chances are just too high that you will screw this up and lose your house. Please hire a lawyer.

I hesitate, but if you want to call me, I would be happy to talk to you. You are in a tight spot, but you have a few options. If you would like, give me a call; I am in northern New Jersey. I will be happy to discuss this with you; the telephone consultation will be free.

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.

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Re: Property Trust

If the property is in foreclosure, I do not see why the bank would consent to the transfer and assumption of the mortgage, even if the account is brought current. I suggest talking to the bank directly, or through their attorney, to allow the mortgage to be brought current (taking a loan from the family member, securred by a second mortgage that need not be recorded immediately) and then stay current for a few months on the mortgage payments. Then approach the bank about allowing a name to be added to the Deed, as additional security for the balance of the mortgage. To my knowledge, NJ does not have any laws that prohibit a lender from excercising the due on sale clause. This is a resonse to an Internet question and the reply is not to be considered as legal advice or as creating an attorney-client relationship. Different facts or missing facts may result in a different response.