How Does the Passaic County Sheriff Sale Process Start?
The Sheriff Sale process in Passaic County, NJ begins when your mortgage lender obtains a Writ of Execution following a Final Judgment in a foreclosure.
Common mortgage lenders that foreclose include:
- Wells Fargo
- Bank of America
- U.S. Bank
- Deutsche Bank
- Mellon Bank
- JP Morgan
- M&T Bank
- Federal Home Loan Mortgage Corporation (Freddie Mac)
- Federal National Mortgage Association (Fannie Mae)
Once the Final Judgment is obtained, the Sheriff of Passaic County will then set a date, time, and location for the sale of your property, and advertise the sale by:
- Publishing the details of the sale in at least two newspapers available in Passaic County at least once a week for at least four weeks prior to the sale.
- Posting a notice on the foreclosed property itself
- Posting a notice at least three weeks before the sale in the Passaic County Sheriff’s Office.
It is important to remember that your lender will not necessarily keep you informed of the Sheriff Sale details. Staying up to date on the status of the sale is critical to assessing your options, so call the Passaic County Sheriff’s Office (973-389-5900) directly with any questions about the 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?“
What are my Options for Stopping a Passaic County Sheriff Sale?
While it may seem like an impossible situation, there are several ways you can delay a Passaic County Sheriff Sale, or stop it entirely.
- Submitting a Complete Loan Modification Application. In many cases, 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 give you 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 Conducting the Sheriff Sale While Reviewing My Modification Application. What Can I Do?
As noted above, a sheriff sale may be stopped by a loan modification application. If you are being reviewed for a modification, the lender is NOT permitted to conduct a Sheriff Sale.
If you have obtained a loan modification, or are being reviewed for a modification:
- Your lender cannot file a foreclosure complaint.
- Your lender cannot apply for a Final Judgment of foreclosure.
- Your lender cannot pursue a sheriff sale.
These are violations of federal law. If your lender has pursued any of these actions,
we can help you.
If your home has been scheduled for a Passaic 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. At the law firm of Ira J. Metrick, we can do an analysis to determine if you are eligible for a loan modification, and help you apply for a modification if you qualify.