New Jersey Statutes 2A:50-39. Mortgages to which article applies
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Terms Used In New Jersey Statutes 2A:50-39
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
This article shall apply to any mortgage in force May 2, 1932, or thereafter executed and delivered, but it shall not affect any foreclosure proceeding commenced prior to said date.
L.1951 (1st SS), c.344.