On May 15, 2019 Megan Knowlton Balne was honored with this year’s Professional Achievement Award given by the New Jersey State Bar. She was honored with the award at the NJ State Bar Convention in Atlantic City which was held on May 15th and 16th, 2019. Megan was recognized for her significant professional accomplishments, including being appointed by the New Jersey Supreme Court to serve on the District IIIB Ethics Committee this year. She also serves as a Trustee of the Burlington County Bar Association and is a founding member of the New Jersey Law Journal’s Young Lawyer’s Advisory Board.
New New Jersey Foreclosure Laws – What Commercial Lenders Need to Know Now
With New Jersey securing the #1 spot for states with the greatest number of properties in foreclosure, Governor Murphy signed nine bills into law to manage what the New Jersey legislature views as an on-going foreclosure crisis. The bills largely address foreclosures on residential mortgages and leave the commercial foreclosure process alone.
Nevertheless, lenders seeking to enforce remedies against individual guarantors whose guarantees are secured by residential mortgages in New Jersey must pay close attention to the changes in the law.
Notable differences include:
- The codification of the New Jersey Foreclosure Mediation Program, which allows certain borrowers to participate in the mediation program
- The Notice of Intent to Foreclose must include additional provisions relating to foreclosure mediation and the availability of housing counseling
- The Notice of Intent to Foreclose expires after 6 months if no foreclosure or other legal action to take possession of residential property has been commenced
- More stringent reinstatement requirements and higher fees for foreclosure complaints dismissed without prejudice for lack of prosecution
- Shortened statutes of limitations for certain residential foreclosure actions
- Requirement for the filing of certain creditor contact information with the lis pendens and accelerated sale timeframes with respect to vacant properties
- Enhanced licensing requirements for mortgage servicers
When faced with a troubled credit, contacting experienced counsel with knowledge of state-specific law can give lenders a valuable edge in maximizing recovery.
Hyland Levin Shapiro Continues to Support JDRF
Partner, David Dahan and his son attended the JDRF South Jersey Chapter’s 2019 Gala at Adelphia in Deptford, NJ. JDRF is a global organization funding breakthroughs to cure, prevent and treat type 1 diabetes. This Chapter historically has raised hundreds of thousands of dollars at each Gala for this worthy cause. This year’s Gala was another tremendous success!
Hyland Levin Shapiro Attorneys Closed Transactions Valued Over $1.2B
For the second year in a row, Hyland Levin Shapiro LLP real estate lawyers closed transactions for our clients with a collective value in excess of $1.2 billion dollars. Please click here to read more.
Harvey Shapiro Honored at Kellman Brown Academy Tribute Dinner
On March 14, 2019 Harvey Shapiro was the featured honoree at the Kellman Brown Academy Tribute Dinner for his role as President of the Saltzman Foundation and as a Jewish Community Leader. He was introduced at the event by his partner and son, Mark Shapiro. Kellman Brown is a premier Jewish Day School in Southern New Jersey.
Partner, David Dahan Attends CAI’s St. Patrick’s Day Party
Partner, David Dahan attended the Community Associations Institute’s (Pennsylvania and Delaware Valley Chapter) (CAI) Annual St. Paddy’s Day Party on March 13 at PJ Whelihan’s in Cherry Hill. CAI is dedicated to building better condominium, townhome and homeowner communities by providing educational and other resources to its membership. David is a member of this Chapter’s Board of Directors. Pictured with David is Vicki Zaslavsky of BB&T Bank and Tony Plakis of ADP.
Hyland Levin Shapiro Proudly Supports the Virtua Foundation
Partners William Hyland, a Virtua Foundation Board Member, Ben Levin, Mark Shapiro, Robert Baranowski and Daniella Gordon, along with their guest, and Virtua Associate General Counsel, Russell Weitz, recently attended the Virtua Hospital Gala at the Borgata in Atlantic City. The Gala is the premier fund-raising event annually benefiting various Virtua community programs. This year, over $1.1 million was raised to support Virtua’s newly-opened Camden Family Health Center which provides affordable, high quality medical services, including primary and dental care, podiatry, specialized medicine, physical therapy, lab services and educational opportunities, to better meet the needs of Camden residents. Hyland Levin Shapiro has been a proud supporter of the Virtua Foundation for 10 years.