Foreclosure News: NJ Ct. Holds Surplus Funds Paid to Creditor
A New Jersey trial court recently held that the surplus proceeds from a foreclosure sale should be used to pay the judgment lien recorded against only one of the spouses when the other spouse failed to contest the judgment creditor’s pre-sale motion, and only objected after the sale. See Wilmington Savings Fund Society, FSB, as Trustee of Stanwich Mortgage Loan Trust v. Schneeweiss, et al., F-13586-17, (N.J. Ch. Div., Aug. 25, 2020).
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