Moratorium On Foreclosures – What NJ Residents Should Know

Yes, you heard correctly. Foreclosures are suspended through December 31, 2020. The newest servicing guidelines from Fannie Mae, Freddie Mac, the VA, USDA, and FHA extend the CARES Act through at least the end of 2020. And once foreclosures do resume, there will be an unprecedented backlog in the foreclosure calendar since no foreclosures in New Jersey have taken place since mid-March of this year. 

To see if your mortgage is included in the foreclosure moratorium, here’s how to find out:

See if Your Mortgage is Backed by Fannie Mae or Freddie Mac:

Fannie Mae:

Freddie Mac:

VA Loan: Take a look at your HUD-1. The HUD-1 is the closing statement from when you purchased your home. Look for a line item for a “VA Funding Fee”

FHA Loan: Call the National Servicing Center to find out at 1-877-622-8525. 

If your mortgage is not a Fannie, Freddie, VA, USDA, or FHA loan, call your mortgage servicer (the company that sends you monthly statements) to find out whether or not there is a moratorium on the foreclosure of your home. 

You may be getting calls, mailings, or even a knock on the door from realtors, foreclosure attorneys, or other third parties regarding your foreclosure. If anyone tells you your home is in imminent danger of a foreclosure, they are being alarmist and trying to sell you a dubious service. Do yourself a favor and hang up the phone or tear up the mailing. 

We are facing a historic backlog on the foreclosure calendar, which determines when a home is sold at a sheriff sale. At the moment, you may not have any income, significantly reduced income, or be facing job instability. Frankly, you can certainly wait to address how to handle a pending foreclosure until you receive a notice of sheriff sale. At that time, I can file a chapter 13 bankruptcy to stop the sheriff sale and use every tool at my disposal to help you keep your home, sell it in an orderly fashion, or buy as much time in the property as possible. 

If you would like to explore your options now, I am at your service and look forward to meeting you. Text or call me anytime on my work cell at 732-737-7985. Or email me at

Hang in there!


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