Terms Used In New Jersey Statutes 2A:50-78

  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • 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
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • person: includes corporations, companies, associations, societies, firms, partnerships and joint stock companies as well as individuals, unless restricted by the context to an individual as distinguished from a corporate entity or specifically restricted to one or some of the above enumerated synonyms and, when used to designate the owner of property which may be the subject of an offense, includes this State, the United States, any other State of the United States as defined infra and any foreign country or government lawfully owning or possessing property within this State. See New Jersey Statutes 1:1-2
5. a. Whenever a homeowner-borrower initiates mediation or is ordered to participate in the mediation program, that homeowner-borrower shall be responsible for submitting a certification document to the court, confirming that they meet the definition of a homeowner-borrower, pursuant to subsection b. of section 2 of P.L.2019, c.64 (C. 2A:50-75), and that the property being foreclosed upon continues to be an eligible property pursuant to subsection b. of section 2 of P.L.2019, c.64 (C. 2A:50-75). Pursuant to subsection b. of section 4 of P.L.2019, c.64 (C. 2A:50-77), the certification document submitted to the court shall also be signed by the trained foreclosure prevention and default mitigation counselor, verifying that the trained foreclosure prevention and default mitigation counselor is counseling the homeowner-borrower.

b. Each party shall participate in foreclosure mediation, and shall attend the mediation session in person or by telephone through a person with the authority to consider alternatives to foreclosure so that the parties may reach a mutually acceptable loan modification, loan workout, refinancing agreement, or other resolution. If any party or attorney for a party fails to attend a mediation session, the court, in addition to any sanction the court deems appropriate, may sanction a party or attorney for a violation of this subsection with a civil penalty of up to $1,000 or allow a party to recover reasonable attorney’s fees or litigation expenses, or both. In determining the type of sanction to impose against a party, the court may consider whether the conduct was intentional and whether the party has engaged in a pattern of similar conduct with respect to the current complaint or any previous complaints.

L.2019, c.64, s.5.

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