In 2019, Governor Phil Murphy signed nine new laws that affect New Jersey foreclosures. The laws aim to help homeowners and reduce foreclosures. This article describes the law that relates to the statute of limitations.

The new law limits the time frame for a bank or lender (the term “lender” used throughout this article refers to the bank, lender, or loan servicer) to file a foreclosure case. The lender now must file by the earliest of the following:

1. Six (6) years from the maturity date in the loan note or the mortgage, unless the maturity date was extended in writing;
2. Thirty-six (36) years from the date when the mortgage was recorded; or
3. Six (6) years from the most recent missed regular payment (date of default), unless the default date was extended in writing or later payments were made.*

* The old law allowed foreclosures to be filed within 20 years of the most recent missed regular payment. The 20 year timeframe still applies to any loans that were originated before April 29, 2019.

For more information about other important sections of the laws, click on one of the topics below.

• Sheriff’s Sale Delays (N.J.S.A. 2A:50-64)
• Foreclosure Mediation (N.J.S.A. 2A:50-56, N.J.S.A. 2A:50-74, and NJ Court Rule 4:64-1B)
• Reinstatement (“Restart”) of a Foreclosure Action (N.J.S.A. 2A:50-56.3 and NJ Court Rule 4:64-8)
• Creditor Contact Information (N.J.S.A. 46:10B-51)
• Condominium and Homeowner Association Lien Super-Priority (N.J.S.A. 46:8B-21 and N.J.S.A. 45:22A-44.1)
• Vacant and Abandoned Residential Property (N.J.S.A. 2A:50-73)
• Mortgage Servicers Licensing Act (N.J.S.A. 17:16F-27 and N.J.S.A. 17:1C-34)
• Licensing Requirements for Residential Mortgage Lending (N.J.S.A. 2A:50-56 and N.J.S.A. 17:11C-1)​

The “citations” (letters and numbers next to each section title) are codes used to find laws online or in a law library.​​

This information last reviewed: Apr 21, 2023