Superior Court Begins to Dig Out From Avalanche of Foreclosure Notices

Judge accepts 3,000 corrected foreclosure notices, with some 60,000 or more still to go.

By Joe Tyrrell, NJ Spotlight A Superior Court judge said she will approve more than 3,000 corrected foreclosure notices from Wells Fargo to homeowners, tearing a hole in the procedural dam that has held back a potential flood of legal action. At a hearing in Paterson where many participants expressed continuing confusion about New Jersey's foreclosure process, Judge Margaret Mary McVeigh tried to explain the difficulties to a courtroom packed with lawyers and defendants. “There is no precedent,” she said. “There is not a case that exists anywhere that addresses what we are doing here.” What New Jersey courts are trying to do is dispose of a backlog estimated at 60,000 or more foreclosure cases from the past five years, even as the number …

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