When is The Sheriff Sale and How Do I Stop It?
One of the most common questions we get asked in regards to the foreclosure process is, “when is the sheriff’s sale and how do I stop it?”. Below you will find answers to some of the most common questions regarding the NJ sheriff sale process, if you do not see your question listed here feel free to contact us.
- When does a Sheriff Sale take place?
- How is a Sheriff Sale advertised?
- As a homeowner, do I have the right to an adjournment?
- Am I able to stop the sale after the adjournments?
- Will filing for Bankruptcy stop the Sheriff Sale?
- Will applying for a loan modification stop the Sheriff Sale?
- Where can I get free loan modification help?
- Am I able to fight a foreclosure?
- What happens after a Sheriff Sale?
1. When does a Sheriff Sale take place?
Once the mortgage lender (Bank of America, Wells Fargo, etc.) has obtained a final judgment in the foreclosure, they may schedule a Sheriff Sale.
2. How is a Sheriff Sale advertised?
The Sheriff must publish notice of the sale for four (4) consecutive weeks in a local newspaper. Many county sheriff’s offices also have websites that list the sales and dates, but the best way to be sure is to call the county sheriff and ask about your sale. It is recommended to rely upon the sheriff to find out the date of the sale, because the lender and their attorneys will not always send prompt notices.
3. As a homeowner, do I have the right to an adjournment?
Homeowners have the right to two (2) adjournments of the Sheriff Sale. Each adjournment is for up to 30 days.
4. Am I able to stop the sale after the adjournments?
To stop the sale after the adjournments are used, a homeowner can file a motion with the judge to ask to stay the sale.
5. Will filing for Bankruptcy stop the Sheriff Sale?
The right to file for Bankruptcy is provided by federal law. In most circumstances, upon the filing of a Bankruptcy Petition, you will be entitled to the “Automatic Stay,” which is an automatic injunction that halts the Sheriff Sale and other actions by creditors. In order to fully understand your options concerning Bankruptcy, you should seek a consultation with an experienced bankruptcy attorney to determine whether it is an option for you, and what you need to do to be prepared to stop a Sheriff Sale.
6. Will applying for a loan modification stop the Sheriff Sale?
In many instances, if a complete loan modification application is submitted at least 38 days prior to the Sheriff sale, the lender must adjourn the sale and review the application. They should also provide the right to appeal any decision prior to conducting the sale. It is possible to find out if you will qualify for a modification, before you apply.
7. Where can I get free loan modification help?
The Court has a free Foreclosure Mediation Program to help homeowners get modification. However, it is only for primary residences and there is a requirement that an application be submitted within 60 days of being served with the foreclosure complaint. To stop the sale and be admitted to the program, a motion must be filed with the Court and the homeowner should be prepared to explain why application was not made sooner and why they think the mediation would be successful.
8. Am I able to fight a foreclosure?
If you want to try to fight the foreclosure, you have the right to file a motion with the Court and ask that the judgment be set aside and that you be permitted to file an Answer and defend the foreclosure. However, the NJ Court Rules provide that these motions should be filed within one (1) year of the Final Judgment.
9. What happens after a Sheriff Sale?
Once the Sheriff sale is completed, the Plaintiff must obtain a Writ of Possession from the court, which instructs the Sheriff to remove any occupants from the property. The defendant will be notified by the Sheriff of the date on which they must leave the property.
Contact Ira Metrick today to discuss your options when facing a Sheriff Sale. In addition to defending the foreclosure, we have the resources to conduct an analysis to identify what loan modification programs are available to our clients; whether our clients will be approved for the modification; and we can give our clients an estimate of the modified monthly payment. We also offer aggressive loan modification representation to monitor lenders’ compliance with the new federal rules.
We can help you stop a sheriff sale in all New Jersey counties: