New Jersey Statutes 2A:50-38. Charges where amount due not in excess of $300
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Terms Used In New Jersey Statutes 2A:50-38
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
In any foreclosure of a mortgage and sale of the mortgaged premises, where the amount due does not exceed $300, the charges for official services shall be one-half the amount allowed by law where the amount due exceeds $300.
L.1951 (1st SS), c.344.