How Does the Mercer County Sheriff Sale Process Start?
The Sheriff Sale process in Mercer County, NJ begins when your mortgage lender obtains a Writ of Execution following a final judgment in a foreclosure.
Common mortgage lenders that foreclose include:
- Wells Fargo
- Citibank
- Bank of America
- Nationstar
- Ditech
- Seterus
- U.S. Bank
- Deutsche Bank
- Mellon Bank
- JP Morgan
- Bayview
- Statebridge
- SPS
- Rushmore
- Caliber
- M&T Bank
- HSBC
- Ocwen
Once the final judgment is obtained, the Sheriff of Mercer County will then set a date, time, and location for the sale of your property, and advertise the sale by:
- Posting a notice on the foreclosed property itself
- Posting a notice at least three weeks before the sale in the Mercer County Sheriff’s Office.
- Publishing the details of the sale in at least two Mercer County newspapers at least once a week for at least four weeks prior to the sale.
It is important to remember that your lender will not necessarily keep you informed of the Sheriff Sale details. Staying up to date on the status of the sale is critical to assessing your options, so you can call the Mercer County Sheriff’s Office (609-394-0286) directly to discuss any aspect of the sale or check their web site.
To see how long it will take for the sale to be scheduled once the application is submitted by the lender, see our blog post: “How Long Do I Have Until the Sheriff Sale?“
What are my Options for Stopping a Mercer County Sheriff Sale?
While it may seem like an impossible situation, there are several ways you can delay a Mercer County Sheriff Sale, or stop it entirely.
- Submitting a Complete Loan Modification Application. In many cases, if a complete loan modification application is submitted at least 38 days before the Sheriff Sale, the lender must halt the sale and review the application. They should also give you the right to appeal any decision before conducting the sale. The Sheriff Sale Process cannot proceed if you are being reviewed for a loan modification.
- Adjourning the Sheriff Sale. You are entitled to two adjournments of up to 30 days each, or 60 days total. You can obtain the adjournments by contacting the Sheriff’s Office.
- Staying the Sheriff Sale. You can file a motion with the judge to request a stay of sale once you have used both adjournments.
- Filing for Bankruptcy. Federal law provides the right to file for Bankruptcy. In most cases, upon filing a Bankruptcy Petition you will be entitled to an Automatic Stay, which halts the Sheriff Sale or other actions by creditors. In order to fully understand your options regarding Bankruptcy, you should seek a consultation with an experienced bankruptcy attorney to determine whether bankruptcy is an option for you, and how you can prepare to stop a Sheriff Sale.
Can A Sheriff Sale Take Place If My Modification is Being Reviewed?
If your lender is reviewing your loan modification application, or should be reviewing it, they are not permitted to:
- File a foreclosure complaint.
- Apply for a final judgment of foreclosure.
- Schedule or conduct a Sheriff Sale.
These are violations of federal law. If your lender has taken any of these actions, contact the law firm of Ira J. Metrick. We can help you determine if your lender has violated any federal regulations, and whether you can stop the sale.
If your home has been scheduled for a Mercer County Sheriff Sale, the most important step is to stay informed and figure out your options. Contact Ira J. Metrick today to discuss how you can stop the Sheriff Sale and stay in your home. We can also conduct an analysis to determine if you are eligible for a loan modification, and give you an estimate of the payment terms.
