Foreclosure in Winslow>Question Details

Melani1218, Home Owner in Winslow, NJ

can my father save his house even though he recieved a sheriff sale notice for april 10?

Asked by Melani1218, Winslow, NJ Wed Mar 14, 2012

Help the community by answering this question:

Answers

9
As others have suggested below, he should contact the bank immediately. Some options are loan modification (if he has the financial means to continue to pay for the home); short sale and/or bankruptcy proceedings may stay the foreclosure proceedings but he should consult an attorney to speak about bankruptcy. He can also get an extension of the sale but if the bank is willing to work with him, they may postpone the sale.

With all that being said, since he's defaulted and up until receiving this notice, has he had any contact with the bank? Has he tried to do a short sale? Was he denied for a loan modification? There are programs in New Jersey that do try and help homeowners keep their homes especially if they have income. Hoepfully its not too late to get help. Here's a link to those websites for foreclosure help: http://ginachiricorealestate.com/AvoidingForeclosure.html#fo…

Good luck.
0 votes Thank Flag Link Wed Mar 14, 2012
You need to contact an attorney and short sale expediator team that specializes in short sales.
0 votes Thank Flag Link Wed Mar 14, 2012
Maybe, have him speak with an attorney right away. Also, calling the courthouse/sheriff's office with be helpful as well.
0 votes Thank Flag Link Wed Mar 14, 2012
Ypur Father does have the ability the postpone by using his right to "STAY" the procedure. He is allowed 2 stays and they are for 2 weeks each. He will wnat to hold on to them as long as possible. Contacting the Bank is the best option, as they will likely be willing to work with him and avoid the foreclosure. Bancruptcy is another option but you should contact an attorney to go over all the pros and cons. I wish you both the best of luck.
0 votes Thank Flag Link Wed Mar 14, 2012
There are ways to stall the process. You can ask the sheriff for extension. Call camden county Office of the Sheriff Room 100 - Courthouse 520 Market Street Camden, New Jersey 08102 856) 225-5470 Fax: (856) 225-5578
The best bet is to stop the process and ask the bank to consider a short sale. It is not that hard to do. A short sale is not as bad as a foreclosure. It mostly affects your credit only. While a foreclosure will affect your credit and reported income for the difference and a judgment in court for deficiency.


If you need help call me.
http://www.Sicklervilleshortsalerealtor.com
http://www.SellitFast123.com
Search foreclosures and short sale here: http://www.BuyNJShortSales.com
Search the MLS on your phone by Text: In the subject line on your mobile phone- LSAR1 -to number 87778 ... hit send... A GPS feature for listings at your finger tips
Larry Sarlo
RE/MAX Preferred
609-868-1171 call / text / email 7 days
lsarlo@comcast.net
http://www.larrysarlo.com
0 votes Thank Flag Link Wed Mar 14, 2012
Yes it's possible but delay or stop the Camden county sheriff sale.... but it depends on what you mean by "save" his house.... Every situation is different so he'll need to call or email me directly to discuss it. I will have a free 20 minute telephone consutlation with him or you.
Joe

---------------------------------
Joe Montenigro REMAX Home Team
Broker, GRI (856)374-2800 x106
Serving Gloucester Twp, Washington Twp & South Jersey Real Estate Markets
Read: http://hometeamNJ.com/blog
Watch: http://youtube.com/joemontenigro
Meet: http://www.facebook.com/JoeMontenigroREMAX
Search all Homes: http://hometeamNJ.com/search
About Joe: http://hometeamnj.com/about/
0 votes Thank Flag Link Wed Mar 14, 2012
Yes, you can delay the process if your father files for bancruptcy. You can also try to short sale the property as well.
0 votes Thank Flag Link Wed Mar 14, 2012
Melani he may, he should call his bank, ask for the home retention department. if he has teh ability to make any payments they should help with a forebearance or similar program. If he has no ability to pay anything chances are slim that you can save it but may be able to sell it in a short sale. You may want to consult an attorney regarding his rights and choices such as workout or bankruptcy, good luck
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Wed Mar 14, 2012
Yes.

The sale will be called off if the amount owed is paid. Please contact a lawyer for more details.
0 votes Thank Flag Link Wed Mar 14, 2012
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
Contact
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer