Foreclosure in 48042>Question Details

Kristina, Home Buyer in 48042

can i file for an emergency hearing to postpone sheriffs sale?

Asked by Kristina, 48042 Fri Sep 18, 2009

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Kristina:

Thanks for your note. Unfortunately, the question you ask is better posed to an attorney in your state who can review your papers, notices and loan to see if there is any way to postpone the sheriff's sale. Typically, once the bank has been given an approval from the courts to move forward with a foreclosure, the only way to stop this action would be to pay the amount due to the mortgage holder and have the foreclosure stopped prior to sale.

Keep in mind that if the bank or its trustee has completed all of the procedures correctly, it will be exceptionally difficult to find any grounds to stop the sale. One cannot simply file or request hearings without grounds for the request, and only your attorney can help you.

Otherwise, as Brian pointed out below, a short sale is one of the only ways in which the bank can be persuaded to postpone their foreclosure action in favor of attempting to sell the home to a bona fide third party. This can buy you time to try to sell the home, move your family out of the property in a planned and coordinated manner, while also preventing your credit from being damaged by a foreclosure.

Good luck, and talk with a short sale expert for help!

Sincerely,
Grace Morioka, SRES, e-Pro
Area Pro Realty
0 votes Thank Flag Link Sat Sep 19, 2009
Kristina:
Not sure I understand your question completely, but some ways that can postpone a sheriff/foreclosure sale are if the property has an offer, and the negotiator is in the process of working the short sale file... they will often "adjourn" or postpone the sale while the offer is under consideration. The other way is if a bankruptcy attorney gets involved prior to the sale... however, if the loan is already in default the better way to go is with the short sale and prevention of foreclosure if possible. I've got several of these "on my plate" and my goal is always to prevent the foreclosure if possible. Next best strategy is to sell short during the redemption period after foreclosure... as this can prevent any future deficiency judgment against the defaulted seller if an agreement can be worked out.
Hope this helps!
Regards,
Brian Luck
Keller Wiliams Realty
586-770-4827
Web Reference: http://www.HomesMacomb.com
0 votes Thank Flag Link Sat Sep 19, 2009
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