Written by William “Bill” Paige, Foreclosure Specialist- HUD Certified Housing Counselor
The foreclosure process in New Jersey is complex, often misunderstood, and has far-reaching implications—not only for homeowners but also for renters residing in small, owner-occupied properties. At The Waterfront Project, Inc., our HUD-certified foreclosure counselors are at the forefront of efforts to provide vital support to both groups.
Preserving Homeownership
Homeowners of 1–4 family properties facing foreclosure are not without recourse. A foreclosure filing does not mean an automatic loss of property. In fact, numerous options remain available even late in the process, including loss mitigation strategies and court-supervised mediation. The Waterfront Project has successfully helped scores of homeowners avoid foreclosure and Sheriff Sales through individualized counseling, document preparation assistance, and direct engagement with mortgage servicers.
Importantly, any homeowner who receives a foreclosure summons in New Jersey has 60 days to respond. During this period, they may apply for the New Jersey Foreclosure Mediation Program, which offers free, court-sanctioned opportunities to negotiate with lenders. While legal representation is not required to access the program, our HUD-certified foreclosure counselors can guide and support homeowners throughout the application and negotiation process.
Outreach and Mortgage Clinics Across Hudson County
To expand access to these critical services, The Waterfront Project is launching a Mortgage Clinic Outreach Program in municipalities across Hudson County. These clinics are designed to provide direct assistance to homeowners with mortgage-related issues, including delinquency, property taxes, homeowner insurance disputes, HOA and condominium concerns, and the threat of foreclosure as well as Homeownership.
Protecting Renters in Foreclosed Properties
An often-overlooked consequence of foreclosure is the impact on tenants residing in 1–4 family homes. Renters may be unaware that the property they live in is in foreclosure and could soon face a Sheriff Sale. In such cases, tenants have legal protections under both state and federal law.
The Protecting Tenants at Foreclosure Act (PTFA) remains a critical safeguard, ensuring that tenants in good standing may remain in their homes for the duration of their lease or receive at least 90 days’ notice before eviction. The Waterfront Project actively educates tenants on their rights and offers legal support to ensure stable housing is maintained during and after the foreclosure process.
With a potential rise in post-foreclosure evictions across Hudson County, The Waterfront Project is prepared to respond with free legal services, including mediation, legal representation, and comprehensive tenant counseling. These services address the structural challenges tenants face and mitigate the broader social impact of housing instability on families and communities.
Know Your Rights. Get Support.
Through strategic outreach, education, and legal intervention, The Waterfront Project, Inc. remains committed to advancing housing stability for both homeowners and renters impacted by foreclosure. We encourage municipalities, legal professionals, and community stakeholders to partner with us in this effort.
For informational materials, including:
· PTFA Fact Sheet
· Foreclosure Rights for Tenants
· Avoiding Eviction: General Guidance
· New Jersey DCA Landlord-Tenant Rights Resources
please contact us today.
The Waterfront Project believes housing is a human right.