There is only a 10 day redemption period in NJ which means after 10 days if you can not come up with what the bank feels you owe them then the highest bidder at the auction (usually the bank) can take title.
Now, "will someone come knocking at your door any time soon after that?" is a big unknown, I have clients that were never even approached for as many as 24 months.
Yes if you have enough money to hire a lawyer, the lawyer can usually get the court to give you time but it is costly and for what, save the money and put it toward a deposit on a rental, hire a mover and move on.
Buy a home after foreclosure expert
Helping families/people that have lost their homes get back into a new one in as little as 6 months