Sherrif's Sale

[howdidithappen]

Been looking at my state's (NJ) sherrif sale listings. Many times there are adjournments. Some times it says attorney adjourned; other times it says bankruptcy filed. What are valid reasons for getting a sale adjourned and how often does it happen? Is there a "maximum" amount of time(s) it can be adjourned? I know of some houses that were foreclosed months ago, but still aren't listed as sherrif's sales - how does that happen?

[ccsjoe]

In CA, and I suspect most other states, the Trustee (in your case Sheriff) can postpone the sale as many times as they desire at the request of the lender. There is no limitation and no specific reason that needs to be provided.

[howdidithappen]

Thanks for the reply. I'm not sure if the trustee and the sherrif are the same in NJ but I'm trying to get informed on all of this. Seems there must be a court order for the sherrif's sale but not necessarily a bankruptcy. I know of someone who had their house foreclosed months ago and there still is no sherrif's sale and they are not filing for bankruptcy. Someone else I know was told to file Chapter 7 to hold off the sale. I'm not sure but I think a house can be ordered sold when the house is not in foreclosure.

[ccsjoe]

Trustee is a California figure, many other states refer to the figure as Sheriff. They are one and the same, name and certain legalese varies. In NJ it's a Sheriff's sale, in CA it's a public auction conducted by a Trustee. Same difference.

Many times, lenders do not hold sheriff sales to foreclose due to backlogs, market conditions, ineptitude, etc for many months, sometimes over a year. This is not uncommon. Filing BK to hold off on foreclosure is only temporary, lender can file for Relief from Stay and proceed with sale. Delay is about 60 days or so.

[confident]

Case in point: our northern CA property Trustee's Sale date has already been postponed twice. Its original sale date was at the beginning of this month.

As someone told us, two very similar cases may have two very different outcomes these days...

[SPalin]

Case in point: our northern CA property Trustee's Sale date has already been postponed twice. Its original sale date was at the beginning of this month.

As someone told us, two very similar cases may have two very different outcomes these days...

So did you get a registered notice each time it was delayed? My Trustee sale was yesterday, but was not notified that it was delayed... hopefully it was sold (back to the bank I'm sure)!

[ccsjoe]

So did you get a registered notice each time it was delayed? My Trustee sale was yesterday, but was not notified that it was delayed... hopefully it was sold (back to the bank I'm sure)!

Figure out who your trustee was (we had to deal with recontrust) and call them or look on their website for the result of the sale.

[confident]

Correct. We didn't get a notification of any kind. In both cases I looked up our property on recontrust's website to find out if the sale was actually going through. You could also call the bank and verify.

[ccsjoe]

You are only required to get the original Notice of Trustee Sale. The Trustee (recontrust) representing the lender has the authority to postpone the sale as many times as necessary for whatever reason up to the actual time of the auction itself. No new notice will be sent out indicating a postponement and new auction date.

[tobee43]

that's disappointing joe...we haven't gotten ONE notice as yet except the first summons...i checked our sheriff's sale site yesterday...we are NOT even on the darn list...shoot it's OVER 2 years...come on get over it!

i thought after our discharge they would do something. i'm still working on having them except a warranty deed...and release...but they nor the banks atty's will even respond..it's odd to me for certain. what good does it do them once the mortgage has been discharged to bogart the deed??

just foreclose already!

[SPalin]

Finally found a site that had my sale information... and yes, it went back to Chase for $106,086.42, they should have taken my offer of $160,000 during the failed loan modification! With the current number of foreclosures in the area they will be lucky to get $60,000... oh, well at least I can now cancel the homeowners insurance and cut off the water!

[tobee43]

really SP??? when did you get served???? they served us back in 2009 and nothing absolutely NOTHING....

so how long from start to finish?? if you don't mind me asking...since i keep attempting to push them and they will not put it up? i don't get it?

[SPalin]

I guess they liked my house and wanted it back! I received the NOD May 17, 2010, moved out at the 90 day mark (August 17, 2010), received notice for Trustee Sale on August 27, 2010 that sale will happen at 10:30 AM on September 17, 2010 and they got it back!
Now, the new place I moved into has just been NOD'd (September 8th), so I will stay until the Trustee sale and see if they offer C4K's...

Of course I haven't made a payment since July 2009, as I had to be past due for the loan modification (per Chase loan officer) and then filed Ch7 in November as the modification was going no place!

[tobee43]

get out SP!!! our house although beautiful inside....there were just a few problems the bank had to deal with....like....

YOU mean...they didn't want the BLACK MOLD....the CRACKED foundation, the extensive yard work....the NEW FENCE cost which was over 10k....the ALL NEW PLUMBING that got frozen this past winter and now needs to be replayed....we heard someone got in and damaged the pool and hot tubs to no end......what NERVE of them not wanting MY house but wanting YOURS...i'm so insulted!!!....WAIT!!!! i forgot to mention the water table changed after the town changed the road in front of our home.........and now the water comes directly into: GUEST WHERE??? the HOUSE!!! and floods is at least 3 times a year!!!

you think that might have something to do with it..and why chase wouldn't even talk to me?? lol!!

[SPalin]

get out SP!!! our house although beautiful inside....there were just a few problems the bank had to deal with....like....

YOU mean...they didn't want the BLACK MOLD....the CRACKED foundation, the extensive yard work....the NEW FENCE cost which was over 10k....the ALL NEW PLUMBING that got frozen this past winter and now needs to be replayed....we heard someone got in and damaged the pool and hot tubs to no end......what NERVE of them not wanting MY house but wanting YOURS...i'm so insulted!!!....WAIT!!!! i forgot to mention the water table changed after the town changed the road in front of our home.........and now the water comes directly into: GUEST WHERE??? the HOUSE!!! and floods is at least 3 times a year!!!

you think that might have something to do with it..and why chase wouldn't even talk to me?? lol!!

Tobee maybe its because Chase's inventory of homes is below 5,000 in California and they needed another one! Oh, the previous owner sold me a great house that still has Black mold in both bathrooms, a cracked foundation due the redwood tree root system under the garage, termites in the master bedroom floor, plumbing and electric issues along with a dead HVAC system! But, from the street it looks good, or did since the yard has not been mowed in over a month!

Location, location, location but why in Fresno, CA!