Don't Buy Notes In NJ! Stupid New Foreclosure Laws The Note Closers Show podcast

Don't Buy Notes in NJ! Stupid New Foreclosure Laws

2M ago 23:44

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RUN, Don't Walk: Why New Jersey Foreclosures Are a Trap for Note Investors! 🏃‍♀️ 🚩

Thinking about buying notes in New Jersey? Think again! Scott Carson unleashes a fiery rant on the latest changes to New Jersey's foreclosure laws, exposing why they're a lender's worst nightmare and why you should avoid the Garden State at all costs.

In this episode, you'll discover:

The "Progressive" New Foreclosure Rules: Community wealth preservation programs, expanded access, and more… that all spell trouble for lenders.
The Rant Begins: Scott is fired up over the new legislation to help lenders and borrowers, but not really helping. It makes about as much sense as the script for Super Troopers!
The Core changes of the new Foreclosure Law: Signed into Law January.
The New Notice Requirements: Now you have to label your mail as such that it's a notice of the seal of forclosure!
What upset prices must look like: The foreclosing plaintiff must provide a good faith estimate of the upset price BEFORE the Auction and you can't budge from that!.
No contacting borrowers: Lenders can't reach out to borrowers and ask if they are wanting to participate in the sales.
What about after foreclosure? The long game, can be a trap for real estate investors.
The Crazy Penalties for Non-Compliance: If you violate the 84-month occupancy requirement, get ready to pay up to $500,000.
Why New Jersey is "off the list". The way for the government to make a hand out and take more money from the little guy.
New Sheriff Commission fees: Get ready to pay your Sheriff 6% of the Winning Bid!.

If you're a note investor or lender, you NEED to hear this episode! Don't get caught in the New Jersey foreclosure trap – listen now and protect your investments! 🛡️ ⛔

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