My question involves bankruptcy in the state of: New Jersey. I sold a rental property some 12 years ago and held the first mortgage. The buyer, who has multiple properties, has just notified us that he is going into foreclosure. What will happen to the money he still owes on our property and how will that be determined? He has faithfully paid over the years. There is alot of equity in the property for him. Do I now get the property back ? Thanks.