Speak to a realtor that can team up with the right attorney to cover all your options and find out the best plan of action quickly. Bankruptcy should be your last resort. List and sell your is usually better and can buy you time. Contact me as I have experience in the Newark area with short sales
Speak to them about your options.
If you need to short sale the house, you need to move quickly. Search for an agent who is experienced in short sales and start the process. Once the bank knows you're moving in the right direction, they will usually postpone a sale.
Sheriff's sales are usually scheduled once a month.
In NJ you have several options. Based on the question it looks like you are located in Essex County assuming you are in Newark NJ like the questions seems to reflect.
First make sure that your home has a pending foreclosure date you can look this up on the ESSEX COUNTY SHERIFF's website at http://www.essexsheriff.com/ (click on "FORECLOSURE SALES" and then click on "Foreclosure Sales Listing"
Assuming it does have a listing that's pending you can list the home as a shortsale (assuming there is a long amount of time left) or you can file for bankruptcy but you may also be able to contact the lender directly as they may have some workout options for you.
Each situation is different and I'd be happy to talk to you about those options and provide you any insight you need.
I'm local to your situation and will be glad to be of any assistance you need.
John Davis Jr., REALTOR
Century 21 Cedarcrest
SMART Fax : 973-944-5038
If for whatever reason you don't qualify for bankruptcy, THEN you need a Realtor who can put the house in the market and also help you speak to the bank. You might want to speak to the bank and see if applying for a modification would pause the foreclosure, some banks do depending on the situation.
But none of us can help at this very moment as much as an attorney, a bankruptcy attorney to be specific. Oh, and even if you already filed bankruptcy, there might be a possibly that you can still protect yourself with the mortgage. Seek an attorney first, it's your best move.
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Senior Loan Officer
STERLING NATIONAL BANK
310 Crossways Park Drive
Woodbury, NY 11797
(516) 606-9648 Cell
(631) 659-2011 Office
(516) 918-5383 Fax