In 2019, Governor Phil Murphy signed nine new laws that affect New Jersey foreclosures. The laws aim to help homeowners and reduce foreclosures. This article describes the law that relates to the statute of limitations.
The new law limits the time frame for a bank or lender (the term “lender” used throughout this article refers to the bank, lender, or loan servicer) to file a foreclosure case. The lender now must file by the earliest of the following:
* The old law allowed foreclosures to be filed within 20 years of the most recent missed regular payment. The 20 year timeframe still applies to any loans that were originated before April 29, 2019.
For more information about other important sections of the laws, click on one of the topics below.
The “citations” (letters and numbers next to each section title) are codes used to find laws online or in a law library.
This information last reviewed: Apr 21, 2023