DEED-IN-LIEU no longer option for new note holders in NJ???

[Account Closed]

Does anyone know if recent changes in the New Jersey Statutes include the elimination of DEED-IN-LIEU as a viable option for new mortgage notes, when the note is in default?

Thanks in advance

[Vaughn Smith]

@Account Closed if you're referring to the changes that Gov. Murphy put in place its a short term solution that puts a stop to eviction and foreclosure proceedings, current cases will be halted and there wont be any new ones:

Read here for a complete look at the changes as it pertains to landlords, tenants, businesses and property owners

https://www.nj.gov/governor/ne...

For those unfamiliar with how deed in lieu of foreclosure works read here:

https://www.thebalance.com/wha...