Finance
When a NJ homeowner is delinquent on mortgage payments and the lender sends a formal notice of intent to foreclose, this notice is called a:
ANotice of Default and Demand to Cure✓ Correct
BLis pendens
CSheriff's notice
DDeed in lieu
Explanation
Prior to initiating foreclosure in NJ, the lender typically sends a Notice of Default (or Intent to Foreclose) and Cure, giving the borrower an opportunity to bring the loan current. Under NJ law, a notice of intention to foreclose must be sent at least 30 days before filing the complaint.
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