Contact Us
Please fill out the form below and our attorney will contact you.
Our Offices
Ratings & Reviews
-
Mr Zimmerman was helpful and kind and prompt . He always answers his phone and that is refreshing . I will be using him for my bankruptcy in the future. He is one of the good ones . He is an outstanding attorney who truley care . He made ev...
Show More -
Mr. Zimmermann is a fantastic bankruptcy attorney who handled my case with care, efficiency and urgency. We were able to beat a judgement against me in the nick of time, and I truly feel a sense of relief due to the services of Mr. Zimmerma...
Show More -
This Lawyer will go above and beyond for you. As well as show tremendous empathy for those who are vulnerable and scared. His compassion to help civilian's shows through his actions and with his word. When he says he is going to call he cal...
Show More -
I’ve worked with Mr.Zimmerman on two different legal issues. In both instances he was fantastic! He is extremely knowledgeable and compassionate and able to breakdown a course of action into language anyone can understand. I would highly re...
Show More -
I highly recommend Mr. Zimmermann as an attorny. I recently purchased an investment property and boy was he helpful. He was easily available, very clear in explaining various concepts, laws and regulations, and provided very helpful tips o...
Show More
- posted: May 27, 2025
Early in 2024, New Jersey instituted the Community Wealth Preservation Program (CWPP) to help individuals and families reclaim foreclosed properties. Supporters of the legislation highlighted its necessity in a state that has consistently ranked among the top three nationwide for foreclosures. While the law has given defendants in foreclosure proceedings the opportunity to buy back their properties, along with their next of kin, tenants and nonprofit organizations, one of the bill’s sponsors is warning that unscrupulous parties are frustrating the program’s purpose.
New Jersey State Senator Britnee Timberlake says that she is planning to introduce revisions to the CWPP law to prevent exploitation that has been identified involving sham nonprofit organizations. According to Sen. Timberlake, these phony charitable groups are taking advantage of the system in the same way that corporate-backed investors did when they bought foreclosed properties at sheriff’s sales, then flipped them for substantial profits. Given the similar effect, she is proposing that nonprofits be excluded from purchasing foreclosed properties during the eligibility period until the fraudulent activity can be rooted out.
Specific provisions of the CWPP include the following:
Allowing eligible buyers up to 90 business days to complete the purchase of a foreclosed property.
Preventing interest from accruing on the balance of the sale for the first 60 business days.
Requiring bidders to occupy the property for at least 84 months to discourage speculative purchases.
These measures were intended to preserve community wealth and prevent displacement, ensuring that foreclosed properties remained in the hands of those directly impacted or organizations committed to community development. Despite the problems identified by Sen. Timberlake, the CWPP remains a critical tool in many foreclosure defense cases. However, homeowners and their loved ones, as well as attorneys representing them, must be aware of sham nonprofits or other attempts to sidestep the true intent of the law.
The Law Offices of James C. Zimmermann is dedicated to assisting homeowners facing foreclosure. To make an appointment for a free initial consultation, please call 973-764-1633 or contact us online. Our five North Jersey offices are in Vernon, Wayne, Pompton Lakes, Hackensack and Nutley.
