How Does an Ocean County Sheriff Sale Work?
The following mortgage lenders are known to foreclose:
- Wells Fargo
- Bank of America
- U.S. Bank
- Mellon Bank
- Deutsche Bank
- JP Morgan
- M&T Bank
Once your lender obtains the final judgment, the Ocean County sheriff will then set a date and location for the sale of your property. They will advertise the sale through three methods:
- Publishing the sale details at least once a week for at least four weeks prior to the sale in at least two newspapers available in Ocean County.
- Posting a notice in the Ocean County Sheriff’s Office at least three weeks prior to the sale.
- Posting a notice on the foreclosed property itself.
It is important to remember that your lender will not always notify you of the sale details. Do not hesitate to call the Ocean County Sheriff’s Office (732-929-2044) with any questions. Staying informed and being able to assess your options is critical when facing a Sheriff Sale.
To see how long it will take for the sale to be scheduled once the application is submitted by the lender, see our blog post: “How Long Do I Have Until the Sheriff Sale?“
How Can I Stop an Ocean County Sheriff Sale?
A Sheriff Sale can be a stressful and difficult situation, but there are several options for delaying it or stopping it completely, including:
- Submitting a Loan Modification Application. In many instances, if a complete loan modification application is submitted at least 38 days before the Sheriff Sale, the lender must halt the sale and review the application. They should also provide the right to appeal any decision before conducting the sale. The Sheriff Sale Process cannot proceed if you are being reviewed for a loan modification.
- Adjourning the Sheriff Sale. You are entitled to two adjournments of up to 30 days each, or 60 days total. You can obtain the adjournments by contacting the Sheriff’s Office.
- Staying the Sheriff Sale. You can file a motion with the judge to request a stay of sale once you have used both adjournments.
- Filing for Bankruptcy. Federal law provides the right to file for Bankruptcy. In most cases, upon filing a Bankruptcy Petition you will be entitled to an Automatic Stay, which halts the Sheriff Sale or other actions by creditors. In order to fully understand your options regarding Bankruptcy, you should seek a consultation with an experienced bankruptcy attorney to determine whether bankruptcy is an option for you, and what you need to do to be prepared to stop a Sheriff Sale.
My Lender is Reviewing my Modification Application, But is Still Conducting a Sheriff Sale. What Should I Do?
If your application is being reviewed, or should be reviewed, your lender is not permitted to conduct a Sheriff Sale. This could be a case of Dual Tracking, which is a violation of the Fair Debt Collection Practices Act (FDCPA). At the law firm of Ira J. Metrick, we can help you determine if you can stop the sale and if your lender has violated any federal regulations.
If you have obtained a loan modification, or are being reviewed for a modification, your lender cannot:
- File a foreclosure complaint.
- Apply for a final judgement of foreclosure.
- Schedule a sheriff sale.
These are violations of federal law. We can help you if your lender has pursued any of these actions.
If your property has been scheduled for an Ocean County Sheriff Sale, it is important to know your options. Contact Ira J. Metrick today to discuss how you can stop the Sheriff Sale and stay in your home. We can also conduct an analysis to determine if you are eligible for a loan modification, and we can give you an estimate of the payment terms.