My name is Michelle and I am a broker here in Oswego. I work extensively with short sales and REO properties. Has the sheriff sale taken place already? If the property sheriff sale has taken place, they may be able to redeem their property back if they are able to satisfy the requirements by the lender. This would need to happen with a foreclosure attorney that specializes in this area of real estate. If the sale date has not yet taken place, then the homeowner would be best to contact a foreclosure attroney immediately to try and stop this process from happening and to also contact the lender and inform them they wish to reinstate their home loan.
Generally if things have gotten as far as the sheriff sale, turning back is extremely difficult. Please feel free to share my information with your friend should they need advice or help with the next step in moving on after foreclosure.
Your friend had options before the actual sale such as a short sale if she/he did not qualify for a loan modification. They should start looking for a new place to move to as quickly as possible before being evicted by the sheriff and having all their possessions put on the curb.