Legal Question in Real Estate Law in New Jersey

Townhouse in New Jersey is in foreclosure for 18 months. It appears that foreclosure is imminent and I wish to vacate the home before the sheriff sale. I've been staying in the house saving up funds to move out. I have a chapter 7 discharge of the two mortgages, and do not wish to save the house. A deed in lieu is not feasible due to the second mortgage holder and I don't see the benefit of a short sale since I discharged the mortgage debt in the bankruptcy. My life has been on hold for over 2 years, and have no intention on waiting for a sheriff sale and notice to vacate to leave the house. I'm vacating the house this summer, prior to the sheriff sale. I will keep insurance in place (vacant home) until I'm no longer responsible for the house. My question is what do I do about the utilities? Should I turn them off, get final readings and notify the mortgage lender? Or, do I leave them on? If I turn them off should I have the townhouse winterized professionally before winter? Or, let the mortgage lender winterize?


Asked on 3/01/17, 9:39 am

2 Answers from Attorneys
Miriam Jacobson Retired from practice of law

There's really no rush for you to vacate until you are served with a notice of ejectment. You will not be able to maintain insurance on a vacant property, and turning off utilities makes the property vulnerable to pipes freezing if it turns cold again. Vacant properties also invite vandalism. Why not continue to enjoy your rent-free home and save some more towards your move, until you must vacate? Lenders are in no rush to take possession, so your vacating will leave the property vacant and vulnerable.

THIS RESPONSE IS NOT LEGAL ADVICE, SINCE I DO NOT HAVE ALL OF THE INFORMATION THAT WOULD BE REQUIRED, AND I DO NOT HAVE A REPRESENTATION AGREEMENT WITH YOU.

* If the answers to your question confirm that you have a valid issue or worthwhile claim, your next step should almost always be to establish a dialog with a lawyer who can provide specific advice to you. Contact a lawyer in your county or township.

* Another reason for contacting a lawyer is that it is often impossible to give a good answer in the Internet Q&A format without having more information. The unique circumstances of your situation and things that you may not have thought to mention in your question may completely change the answer. If you want to be sure that you have a complete answer to your question and an understanding of what that answer means, establish a connection with a lawyer who practices in the area of your concern.

Read more
Answered on 3/01/17, 9:45 am
Jef Henninger, Esq Law Offices of Jef Henninger, Esq.

Your best bet is to work with an attorney. He or she can work with the bank's attorney to work this all out so you leave the house in an orderly fashion with no dispute about anything. Since you are not fighting the foreclosure, this should not be expensive. Call us at 1-855-9-JEFLAW to discuss

Read more
Answered on 3/01/17, 9:45 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in New Jersey