Real Estate and Foreclosure Litigation Resources and FAQ's

1.  Chapter 50 of Title 2A of New Jersey Statutes
     § 2.02 Fair Foreclosure Act (Short) Title N.J.S.A. 2A:50-53


2.  Real Property Actions and Proceedings Law Chapter 13

 

NYS Real Property Actions and Proceedings Law (RPAPL)

The complete NYS Real Property Actions and Proceedings Law (RPAPL) (462k).

 

Table of Contents

Article 1 -- Short Title; Definitions; Jurisdiction of Certain Actions; Construction of Act

Article 2 -- General Provisions Governing Real Property Actions

Article 3 -- Provisions Relating to Evidence

Article 4 -- Valuing Interests in Real Property

Article 5 -- Adverse Possession

Article 6 -- Action to Recover Real Property

Article 7 -- Summary Proceeding to Recover Possession of Real Property

Article 7-A -- Special Proceedings by Tenants of Dwellings in the City of New York and the Counties of Nassau, Suffolk, Rockland and Westchester for Judgment Directing Deposit of Rents and the Use Thereof for the Purpose of Remedying Conditions Dangerous to Life, Health or Safety

Article 8 -- Waste and Other Actions and Rights of Action for Injury to Real Property

Article 9 -- Action for Partition

Article 10 -- Action for Dower

Article 11 -- Proceeding to Discover the Death of a Tenant for Life

Article 12 -- Other Actions and Proceedings Between Co-Owners or Owners of Successive Interests

Article 13 -- Action to Foreclose a Mortgage

Article 14 -- Foreclosure of Mortgage by Advertisement

Article 15 -- Action to Compel the Determination of a Claim to Real Property

Article 16 -- Judicial Authorization of Sale, Lease, Mortgage, Acquisition, Exchange or Voluntary Partition

Article 17 -- Special Proceeding for Disposition of Real Property of Infant, Incompetent or Conservatee

Article 18 -- Special Proceeding for Release of Claim Against State of Infant or Incompetent for Appropriation of Real Property

Article 19 -- Discharge or Extinguishment of Encumbrances, Claims and Interests

Article 19-A -- Special Proceeding to Convey Title to Abandoned Dwelling to City, Town or Village

Article 20 -- Enforcement of Covenants and Easements; Recovery of Damages for Breach of Covenant or Injury to Easement

Article 21 -- Effective Date; Laws Repealed

 

Informative Links


3. http://www.bankrate.com/   (THIS PAGE SHOWS INTEREST RATES ETC. )

 

What is the purpose of a real estate purchase contract?

A real estate purchase contract specifies the terms of purchase for both the buyer and the seller. It stipulates the date by which the purchase must be completed, the commission that will be paid to the real estate agent(s), any special conditions regarding the house such as appliances, and any financial conditions that the buyer is setting forth – such as the seller will pay a certain dollar amount in closing costs. In addition, this contract will specify the amount of deposit the buyer will pay to hold open the contract.

 

 

What is a mortgage?

A mortgage is a legal document that secures the note of the bank loan and gives the lender a legal claim against our house if you default on the terms of the note. You have possession of the property, but the lender still has an ownership interest in the property. In Virginia, the legal document to secure the realty is called a Deed of Trust.

 


What are the lengths of mortgages?

There are different types of mortgages that last for different lengths of time. Some of these mortgages are:

Fixed rate mortgage: This loan is typically for a fixed number of years, for example 20 or 30 years. With a fixed rate mortgage, your interest rate does not change over the life of the loan.

Adjustable-rate loans: The interest rate for these mortgages varies over time to keep it in line with changing market rates. When interest rates go up, your mortgage payment may go up, and vice versa. There is a cap as to how far up or down the interest rate may change with your mortgage.

Government loans: There are many different types of government loans. Some of these include FHA loans, VA loans, RHS loans, and other state and local loan programs. For more information about these types of loans, you should consult your local bank or other agency.

 

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