At the Law Office of Ira J. Metrick, we receive and review all notices our clients receive during the New Jersey Foreclosure Process, and we provide explanations of the notices and answer questions about how they affect the foreclosure process, including the Writ of Execution.
What is a Writ of Execution?
A Writ of Execution is an official court document issued during the New Jersey foreclosure process that orders the sheriff to sell your home at a public auction known as a Sheriff Sale. The Writ of Execution lists the homeowner, lender, and property information and states that the property is subject to be sold in accordance with the Final Judgment of Foreclosure.
When is a Writ of Execution Issued?
- When your lender obtains a Final Judgment, the Court will also issue the Writ of Execution to enforce the judgment. Your lender can then apply for a sheriff sale.
- Prior to the Final Judgment, your lender is required to send you a Fair Foreclosure Act Notice (FFA Notice) to inform you that they intend to apply for Final Judgment of Foreclosure and give you one last chance to pay the arrears. If you send a letter within 10 days of receiving the FFA Notice stating that it is possible to get the funds, your lender will have to wait an additional 45 days to give you a chance to pay.
- Once your lender submits the application/motion for Final Judgment, including all the proofs of amount due and copies of the note, mortgage, assignments, and modifications, you will receive notice that you have the right to object to the amount due.
- About 30 days after the application/motion for Final Judgment is submitted, if you do not contest the amount due, the application will be reviewed and if there are no obvious errors, it will be approved. Once the court grants Final Judgment to your lender, it will also issue the Writ of Execution to enforce the judgment. Your lender can then apply for a sheriff sale.
Here is an example of what a Writ of Execution will look like:
I Received a Writ of Execution. What Should I Do?
At the Law Office of Ira J. Metrick, we can help you understand foreclosure notices such as the Writ of Execution and answer any questions you may have during the foreclosure process.
Many homeowners believe that Final Judgment is the end of the process, and that if a Writ of Execution is issued all hope is lost. However, this is not the case. It is still possible to get a loan modification or file a motion to try to fight the foreclosure, even after a Writ of Execution has been issued.
- We can conduct a thorough analysis of your eligibility for a loan modification.
- Based upon information about your loan and you, we can determine if you are eligible for a loan modification, and we can give you an estimate of the modification payment terms.
- We can review your foreclosure to see if there are grounds to file a motion to try to fight the foreclosure.
Each notice you receive can affect the foreclosure process. If you need to know what a specific notice means, the Law Office of Ira J. Metrick can assist you by explaining them to you. We also offer representation to receive all of your notices in our office, and then forward them to you with explanations.