Law Offices of

Anthony L. Velasquez, Esquire

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Mortgage Foreclosure and Tax Foreclosure


TAX FORECLOSURE is sought in NJ by tax lien holders (holders of tax sale certificates) who have not been paid back, with any applicable interest, costs and fees, within the requisite time period under law (usually 2 years). 

MORTGAGE FORECLOSURE is sought in NJ when a bank or lender has not been paid in a timely fashion by the owner/ borrower and where the delinquent mortgage loan has fallen into default.  

The proceedings and the law with regard to mortgage foreclosures and tax foreclosures are vastly different.  Arm yourself with a competent, knowledgeable attorney who will pursue your best interests and guide you through this process so that you can maximize gain and minimize loss.


TAX FORECLOSURES
Tax foreclosures present a unique opportunity for investors.  The ability to profit as an investor is great, and the financial impact upon the property owner can be daunting.  With experience representing BOTH SIDES of the issue – both investors and homeowners -- Anthony L. Velasquez, Esq., provides the legal services necessary with competence and detail that is second to none. 

In New Jersey, a tax sale certificate is sold by a municipality at a public tax sale when a property owner fails to pay his or her own municipal property taxes.  The tax lien generally earns interest for the investor (usually at 18%) and acts as a lien upon the property.  If the owner does not repay the full amount plus interest, costs and fees, within 2 years (sometimes shorter depending on the application of other related laws), the tax lien holder can institute foreclosure proceedings.  Unlike mortgage foreclosures where a judgment results in a Sheriff’s Sale, in the majority of instances there are no Sheriff’s Sales in tax foreclosure cases.  A final judgment strips title from the owner and vests title in the lien holder.  For example, if a property worth $150,000 is foreclosed upon for an outstanding $30,000 tax lien, the owner loses approximately $120,000 in equity (assuming there are no other debts owed).  This substantial financial loss to the owner is a windfall gain to the tax lien holder, who becomes the new owner with the right to evict.  The laws in this field are harsh, the penalties are real and the results can be catastrophic if final judgment is entered.  Before this happens, call the Law Offices of Anthony L. Velasquez, Esq., for a free, no-obligation consultation, at 609-273-2630.

Within the field of tax foreclosure, Mr. Velasquez has appeared before the NJ Supreme Court and successfully argued the landmark case Simon v. Cronecker, 189 N.J. 304 (2007) in support of homeowners and third party buyers seeking to avoid loss through tax foreclosure judgment.  This case establishes the mandatory procedures required in all instances where a redemption of a tax lien currently in foreclosure is paid off by another party, either as part of a real estate sale at the closing table or otherwise.  The penalties and legal ramifications for failing to adhere to the Cronecker mandatory requirements can be catastrophic to the parties.  Do not leave this matter to chance.  Call Anthony L. Velasquez, Esq., for a free consultation with regard to your foreclosure case.

MORTGAGE FORECLOSURES
Anthony L. Velasquez, Esq., has successfully represented a myriad of banks, financial institutions and individuals who are seeking to foreclose.  His experience and ability to streamline the process provides clients with the highest level of satisfaction and results for clients seeking to obtain a foreclosure judgment and enforce their agreements to the fullest extent of the law.

Conversely, Mr. Velasquez has represented countless clients, debtors and homeowners who seek to oppose foreclosure actions filed against them for late or delinquent payments.  His proficiency on both sides of the issue has been an invaluable asset to his representation of owners seeking to modify their loan terms, gain extra time, and/ or obtain the ability to sell their properties and reap a financial gain before facing a foreclosure loss.  Are you behind on your payments, with debts stacking up? Do you feel that there is no where to turn except bankruptcy?  It is our approach that bankruptcy is the last option, and that there are many other avenues and alternatives to explore and pursue to avoid such a drastic result.  Call the Law Offices of Anthony L. Velasquez, Esq., for a free, no-obligation initial consultation at 609-273-2630.

"As a man is said to have a right to his property, he may be equally said to have a property in his rights."

James Madison

Law Offices of Anthony L. Velasquez, Esquire
Robbinsville, NJ 08691




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