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  1. #1
    Join Date
    Jun 2008
    Posts
    2

    Unhappy New Jersey Sheriff's Sale Foreclosure

    My question involves a foreclosure in the State of: NJ

    Hello, I rent in a two family home and been here for about 1 1/2 yrs. Like 2 weeks ago I found a sheriffs notice that the house was up for bid. I am currently renting and had a lease from Feb 2007-2008. I spoke to the landlords and they states that he got an extension until july 4th for sale. Now he wants me to sign a lease since from September 2007 thru September 2008 for my protection as he states that they will repect the lease leaving me with 3 months to find a new place. Now I heard of a new law as of 2007 that they give 90 days for eviction regardless lease or no lease. Do you think that the reason he is making me sign from sept 2007-sept 2008 so that I wouldnt sue him since i could ? And is it better if I sign a lease or be without one before foreclosure???? I really need to know help please this is drivng me nuts???

  2. #2
    Join Date
    Apr 2008
    Location
    Texas (Dallas area)
    Posts
    1,404

    Default Re: New Jersey Sheriff's Sale Foreclosure

    I am sorry to hear about your problems. Click on the enclosed link to see what stage of foreclosure the property is in. Your landlord may still cure the default and you may not have to move.

    http://www.rentalforeclosure.com/


    The landlord may be in NOD stage or worse, a pending auction of the property. Check the status and then ask the landlord his intentions. Until the property becomes bank owned it still belongs to the owner.

  3. #3
    Join Date
    Mar 2005
    Location
    Michigan
    Posts
    28,906

    Default Re: New Jersey Sheriff's Sale Foreclosure

    That site covers California, Florida and Nevada.

    He may want a lease to convince a lender that he has a long-term tenant. It won't protect you after foreclosure - the completed foreclosure will end your lease.

  4. #4
    Join Date
    Apr 2008
    Location
    Texas (Dallas area)
    Posts
    1,404

    Default Re: New Jersey Sheriff's Sale Foreclosure

    I agree, a lease will protect him until the foreclosure is complete. If the house does end up as REO then the lease will no longer be valid. Good point

    Here is a link to check the status of a foreclosure in NJ, my mistake

    You can join for a free 7 day trial period.


    http://www.realtytrac.com/

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