New Jersey Foreclosure

COMPLAINT IN FORECLOSURE

JOHN LAWYER, ESQ.

12 MAIN STREET

ANYWHERE, USA

Attorneys for Plaintiff

ABC BANKING CO., Plaintiff(s),

v.

JOHN SMITH, Defendant(s).

SUPERIOR COURT OF NEW JERSEY

CHANCERY DIVISION

COUNTY

DOCKET NO.: F-

CIVIL ACTION

COMPLAINT IN FORECLOSURE

Plaintiff , having a principal place of business at , New Jersey, by way of Complaint against the Defendant says:

FIRST COUNT

1. Plaintiff is a New York corporation lawfully doing business in the State of New Jersey and is in the business of providing financing for the purchase of residential housing.

2. Defendant is the owner of residential property (hereinafter “The Property”) commonly known as , New Jersey. is also identified as Lot , Block on the tax map of the Borough of , County of , State of New Jersey. The Property can be more fully described as per the metes and bounds description recited in Exhibit 1, which is appended hereto.

3. Defendant is made as a party herein because it is a lien holder against the Property by way of a junior mortgage which was apparently given to secure a loan to Defendant in the amount of $ with said mortgage being dated , and being recorded in the Clerk’s Office for the County of , at Book , Page .

4. On or about , Defendant became indebted to the Plaintiff. Specifically, Defendant gave the Plaintiff a mortgage to secure a loan of $ which Plaintiff made to him (hereinafter “The Mortgage”).

5. This Mortgage was recorded in the County Clerk’s Office for the County of on or about , in Mortgage book , at page . A true copy of same is appended hereto as Exhibit 2 hereto.

6. Contemporaneous with the execution of the above Mortgage Defendant also executed a promissory note (Note) in favor of the Plaintiff. A true copy of said Note is appended hereto as Exhibit 3. According to the terms of the Note Defendant was to have made monthly payments of principal and interest in the amount of $ until the Note matured on .

7. In addition to payments of principal and interest Defendant was also liable for late fees compute at 4% of the overdue payment of principal and interest.

8. Additionally, Defendant was obligated to pay to Plaintiff interest on any unpaid principal until the full amount of the principal has been paid at a yearly rate of 6%.

9. Both the Mortgage and Note given to the Plaintiff by Defendant contained an agreement that should any default be made in the payment of any monthly installment of principal or interest that said indebtedness, with all arrearage of interest thereon and all other payments due thereunder, should, at the option of the Plaintiff, become immediately due and payable.

10. Subsequent to the execution of the foregoing loan documents Defendant defaulted under the terms of both the Note and Mortgage.

11. Defendant default can be described as follows:

a) unpaid principal ............................................................................................ $

b) interest due through ...........................................................................

c) late fees ...........................................................................................................

d) estimated tax and insurance to be paid ...........................................................

e) satisfaction of mortgage .................................................................................

f) escrow (credit) or advance .............................................................................

12. During the course of this action, the Plaintiff may be obliged to make advances for the payment of taxes, insurance premiums and necessary expenses to preserve her security and such sums advanced under the terms of the Note, together with interest, are to be added to the amount due on the Mortgage debt and secured by the Mortgage.

13. The debt has matured and therefore the full amount secured by the mortgage with interest and other lawful changes are now due and payable.

14. On or about , a notice of intention to foreclose was forwarded to Defendant . A true copy of same is appended hereto as Exhibit 4.

WHEREFORE, Plaintiff demands judgment:

A. Fixing the amount due on its Mortgage;

B. Barring and foreclosing Defendants from any equity of redemption in and to said lands;

C. Directing that Plaintiff be paid the amount due on the Mortgage with interest and costs;

D. Adjudging that said lands be sold according to law to satisfy the amount due the Plaintiff.

SECOND COUNT

15. Plaintiff hereby repeats the allegations recited in the First Count of this Complaint as if they were fully set forth herein.

16. Plaintiff is entitled to possession of the said lands and premises with the appurtenances situate, lying and being in the Borough of , County of and State of , more particularly described the First Count of this complaint, to which paragraph reference is made and which is herein incorporated.

17. Plaintiff's right to possession of said lands and premises accrued on .

18. Defendant has at all times since that date deprived the Plaintiff of possession of said premises.

WHEREFORE, Plaintiff demands judgment against the Defendants:

A. For possession of said premises;

B. For damages for mesne profits.

C. For attorney’s fees and costs.

DESIGNATION OF TRIAL COUNSEL

Pursuant to Rule 4:5-1(c) , Esq., is hereby designated as trial counsel on behalf of the Plaintiff.

CERTIFICATION

I hereby certify that the matter in controversy in this action is not the subject of any other actions pending in any court or of a pending arbitration proceeding, no other action or arbitration proceeding, no other action or arbitration is contemplated and no other parties must be joined in this action.