New Jersey homeowners facing foreclosure will have to move faster to cure a mortgage default, under a federal appeals court decision. The 3rd Circuit held that the right to cure ends when the property is sold at auction, rejecting the owner's argument that it continues until the deed is delivered to the purchaser. The ruling in the closely watched case, which drew amici on both sides, resolves a more than decade-old split among federal bankruptcy and district judges in New Jersey.
August 10, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
New Jersey homeowners facing foreclosure will have to move faster to cure a mortgage default, under a federal appeals court decision.
The 3rd U.S. Circuit Court of Appeals held that the right to cure ends when the property is sold at auction, rejecting the owner’s argument that it continues until the deed is delivered to the purchaser.
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