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Photo of attorneys Shelley Slafkes and Bruce Levitt
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  4.  | What must be included in the Notice of Intention to Foreclose NOI

What must be included in the Notice of Intention to Foreclose (NOI)?

The NJ Fair Foreclosure Act requires that the NOI contain certain information such as: (1)  the reason for the default; (2) the amount you must  pay to cure the default and reinstate the loan; (3) your right to cure the default; (4) the name and address of the holder of the note and mortgage; (5)  a representative that you can contact; and (6) information on New Jersey’s foreclosure mediation program.

If you can pay the full amount that you owe at this time, the lender is required to take your payment and is not allowed to charge you legal fees or court costs.

The mortgage lender usually waits until you have missed three mortgage payments before sending you a Notice of Intention to Foreclose.