Author: Ricky Morgan
If you’re facing foreclosure in New Jersey, you’re not alone. I’ve worked with countless homeowners in NJ who found themselves behind on mortgage payments and worried about losing everything to the bank.
Here’s the good news: You still have options. Whether you’re in pre-foreclosure or already deep into the process, you may still be able to sell your home and walk away with cash in your pocket—but only if you act fast.
As someone who has been buying homes in NJ for years, I’ve helped many sellers stop foreclosure, protect their credit, and move on without debt. Here’s how you can do the same.
1. Understanding the NJ Foreclosure Process
Foreclosure in New Jersey doesn’t happen overnight. In fact, NJ has one of the longest foreclosure timelines in the country—which means you have time to take action.
Stages of Foreclosure in NJ:
🔹 Missed Payments (Pre-Foreclosure): Your lender will send notices of missed payments after 90+ days.
🔹 Notice of Intent to Foreclose: You’ll receive a legal notice before foreclosure officially starts.
🔹 Lis Pendens (Foreclosure Filing): This means the lender has officially started the foreclosure process in court.
🔹 Sheriff’s Sale: If the lender wins the case, your home gets auctioned off to the highest bidder.
🚨 Key Fact: Once your home is sold at auction, you lose all control—but up until that point, you can still sell your home and avoid foreclosure.
2. Can You Sell a House in Foreclosure in NJ?
Yes! In most cases, you can sell your home before foreclosure is finalized—even if you’re behind on payments.
🔹 If your home is worth more than your mortgage balance, you can sell normally and pay off the loan.
🔹 If your home is worth less than what you owe, you may qualify for a short sale (where the lender agrees to take less).
🔹 Cash buyers (like Savannah Properties) can often close in time to stop foreclosure before the sheriff’s sale.
💡 The sooner you act, the better your options. Once the home goes to auction, you lose control and may walk away with nothing.
3. Selling to a Cash Buyer vs. Listing with an Agent
If you’re in foreclosure, you might be wondering:
💰 Should I list my home with an agent, or sell it for cash?
Here’s the truth—listing with an agent takes time, and in foreclosure, time is your enemy.
Listing with a Realtor (Takes 3-6 Months)
❌ Takes too long—you may not find a buyer in time.
❌ Buyers will negotiate price drops and repairs.
❌ Lenders may not wait while you list your home.
Selling to a Cash Buyer (Closes in 7-14 Days)
✔ Fast sale before foreclosure is finalized.
✔ No repairs, no staging, no showings.
✔ No waiting for bank approvals.
🚨 Real Example: I worked with a homeowner in Trenton who was weeks away from the sheriff’s sale. They tried listing but got no offers fast enough. We stepped in and closed in 10 days, stopping the foreclosure and putting cash in their pocket instead of losing the home to the bank.
4. What Happens If You Do Nothing?
If you ignore the foreclosure process, here’s what happens:
❌ Your home is sold at auction.
❌ You lose the chance to make any money.
❌ Your credit is destroyed (foreclosure stays on record for 7+ years).
❌ You may still owe money if the home sells for less than the loan.
💡 But if you sell before foreclosure is finalized, you avoid all this.
5. Steps to Sell Your Home Before Foreclosure in NJ
Step 1: Know Your Deadline
Check with your lender or county records to see when your foreclosure auction is scheduled.
Step 2: Get a Cash Offer (FAST)
If time is running out, listing with an agent is too risky. Reach out to a cash buyer who can close before the auction date.
Step 3: Notify Your Lender
Once you have an offer, you’ll need to inform your lender that you are selling to pay off the loan. This may stop the foreclosure process.
Step 4: Close Quickly & Walk Away with Cash
Once the sale is finalized, the foreclosure case is dismissed, and you move forward without it ruining your financial future.
💡 The key is moving FAST—foreclosures don’t wait.
6. How Savannah Properties Can Help
At Savannah Properties, we specialize in helping NJ homeowners sell fast before foreclosure. We know how stressful this process is, and we make it simple and stress-free.
✔ We buy homes as-is (no repairs needed).
✔ We cover closing costs (no fees, no commissions).
✔ We close in as little as 7 days—before the bank takes over.
📩 If you need to sell your home fast before foreclosure, reach out today for a free, no-obligation cash offer.