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HOUS. & MOR. FIN. v. BEDMINSTER HOUS.

285 N.J. Super. 255 (1995)

666 A.2d 1018

NEW JERSEY HOUSING AND MORTGAGE FINANCE AGENCY, PLAINTIFF-RESPONDENT, v. BEDMINSTER HILLS HOUSING CORPORATION, DEFENDANT-APPELLANT, AND CHARLES R. HEINE AND DEBORAH S. HEINE, HIS WIFE, THE VILLAGE GREEN AT BEDMINSTER NEIGHBORHOOD CONDOMINIUM ASSOCIATION, INC., THE HILLS VILLAGE MASTER ASSOCIATION, INC., AND GREENWOOD TRUST COMPANY, DEFENDANTS, AND JOHN J. BESOLD, RESPONDENT.

Superior Court of New Jersey, Appellate Division.

Decided November 15, 1995.

Attorney(s) appearing for the Case

Gregory A. Molyneux argued the cause for appellant (Fadem & Molyneux, attorneys; Mr. Molyneux, on the brief).

Judith C. Arnold argued the cause for respondent New Jersey Housing and Mortgage Finance (Richard M. Milstead, attorney; Ms. Arnold, on the brief).

Thomas P. Fischer argued the cause for respondent John J. Besold (Broscious, Israels, Glynn & Gentile, attorneys; Mr. Fischer, of counsel and on the brief).

Before Judges BAIME, KESTIN and A.A. RODRIGUEZ.

The opinion of the court was delivered by KESTIN, J.A.D.

This case involves the rights and responsibilities of the parties in a mortgage foreclosure proceeding that reached the post-sheriff's sale stage. R. 4:65-5. The mortgagors had purchased the property as a below-market-value condominium unit under a court-approved affordable housing plan. The non-profit corporate entity designated by the court to administer the affordable housing plan "in aid of a governmental...

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