My deceased mother's home is being foreclosed on in NJ and I have just been served papers naming me in the foreclosure process. She did name my aunt and I as her executors of the estate but the estate doesn't have any money left. We have no interest in the property and would like the foreclosure to proceed. Do I need to have an attorney answer the summons? Can a judgment be brought against me for the mortgage even if I have not signed the note?
The Foreclosure complaint with the docket # beginning with the letter "F" is the plaintiff's attempt to foreclose all other rights in the property and to obtain clean title. If you did not sign the mortgage note , and there is no equity in the property, and you do not care about the property you need not answer the complaint . If the complaint has a docket # beginning with the letter "L" that is a Law Divison complaint for money damages and you should seek counsel immediately.
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You are most likely just being named in your capacity as executor of the estate. The foreclosure is against the estate. If you have no interest in saving the property, you can forgo an Answer and the matter will proceed as a default.
My advice is to consult an attorney because you have a multitude of options available to you in your capacity as executor that could either save the property or minimize any damages to the estate.
If you did not personally endorse the note, the bank cannot seek a personal judgement against you. You are only involved in your capacity as executor of the estate.
This answer is given for informational purposes only and does not create any attorney-client relationship. The answer given is based solely on the information provided and does not purport to be comprehensive legal advice. This answer is not a legal consultation. An attorney-client relationship will only be created upon formal retention of The Law Office of Michael J. Cicala, LLC through written documentation executed by all parties.
A Foreclosure Judgment is not a personal judgment and therefore not a personal debt. It is not reported on credit reporting nor can it be found in public records searches.
In your case, your position as a "party in interest" is due to your mother's will naming you an executor. You are required to be named under NJ Foreclosure Law.
You might consider a consultation with counsel to become more fully informed of your rights and your obligations as an executor.
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