Are you facing a sheriff sale of your home in New Jersey? Taking action immediately may be able to save your home and stop a sheriff sale before it happens.
Foreclosures in America are at an all time high due to the 2020 pandemic. With that, comes the stress on homeowners to try and figure out how they can save their homes from a sheriff sale before it’s too late. If you are one of these unfortunate people dealing with the possibility of losing your home, you’re probably wondering how you can avoid a sheriff sale all together.
The foreclosure process is long and complicated, but not impossible to stop.
So can a sheriff’s sale be stopped? The short answer, yes. But figuring how to stop a sheriff sale on your home can be much more complicated and will require some work on your part to make it happen.
While you can go through the foreclosure process alone, working with an attorney is highly recommended due to the complexity of the process. At Denbeaux & Denbeaux Law, our experienced foreclosure lawyers are ready to help you try to save your home from a sheriff’s sale. If you’re unsure of what step to take next, we may be able to help you find a solution and get your home back for good.
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What Is A Sheriff’s Sale?
A sheriff’s sale is a public auction in which people can bid for a property that was foreclosed on and repossessed. Properties usually go into a sheriff sale at the end of the foreclosure process but may go directly into a sheriff sale if the homeowner doesn’t respond to the initial foreclosure complaint or Notice of Intent to foreclose.
Before the sheriff sale can take place, lenders have to let homeowners know about the default on their loan (usually done through the Complaint or Notice of Intent to foreclose) and allow for a grace period during which homeowners may try to get up-to-date on payments or seek a loan modification.
How To Stop A Sheriff’s Sale
Homeowners have as many rights during the foreclosure process as lenders and servicers do. Those rights may give you the opportunity to stop or delay a sheriff sale on your home. Here are a few ways to stop a sheriff’s sale:
1. Work with a foreclosure attorney
Working with an experienced foreclosure attorney can be helpful for people trying to stop the sheriff sale on their home. The foreclosure process is complicated and time consuming, especially for someone who isn’t familiar with foreclosures. An attorney can help guide you through the process and may be able to find a solution that you aren’t aware of.
We offer free consultations to help you learn about your options and what you can do to stop a sheriff sale of your home.
2. Answer the Complaint
Once you’ve received the Complaint to foreclose (or Notice of Intent), the best thing you can do to stop a sheriff sale from happening is to answer the Complaint. When you don’t respond to the Complaint, services may be able to enter a default judgement on your home, allowing them to sell it in a sheriff’s sale.
If you didn’t answer the complaint and you’re facing a sheriff sale, you can still take action if you know the right steps. Talking with an attorney can help you understand your situation and options available.
3. Get up-to-date on mortgage payments
Getting current on your mortgage loan may be able to stop the sheriff sale on your home. Make sure you know how much you need to pay, including late fees, and when the deadline is for making those payments before it’s too late.
4. Try to renegotiate the loan
If you qualify, you may be able to work with servicers to get a loan modification. This could mean extending the loan, altering monthly payments, etc., depending on what’s available to you. Renegotiating your loan could delay the sheriff sale, but make sure to keep up to date with your new loan because the sheriff sale can be reinstated if you default on payments.
5. Sell your home with a short sale
A short sale allows homeowners to sell their house before the sheriff sale. You may be able to get a short sale on your home depending on how much time you have left before the date of the auction. When approved for a short sale, be sure to speak with a trusted real estate agent who has good connections to help you sell your home in a timely manner.
Work With A Foreclosure Lawyer To Stop A Sheriff Sale
Foreclosures and sheriff sales can be a long and strenuous process but can happen quickly if you don’t take action. If you’re a homeowner facing a sheriff sale on your home and you aren’t sure of what step to take next, contact one of our foreclosure defense lawyers for a free initial consultation.
At Denbeaux & Denbeaux Law, we are dedicated to taking the stress off our clients and guiding them through the foreclosure process. Josh Denbeax is an experienced foreclosure defense attorney who is ready to fight for your rights as a homeowner.
Contact us today to learn about how you may be able to stop or avoid a sheriff sale on your home.