If you are in arrears on your mortgage, your lender may be planning to seek a foreclosure judgment against you; and if they already have and you learn about a sheriff’s sale from the notice in the newspaper, you may feel blindsided. We understand how you feel, but the dedicated foreclosure defense attorneys at Gillman Capone do more than sympathize, we employ solutions that can save your home.
Time is of the essence if the date for the sheriff’s auction of your home has been scheduled. A Madison, NJ sheriff’s sales lawyer has several legal tools that can be employed to turn this tailspin around and put you back on track to restore your credit and rebuild your wealth. Call now to schedule a free case evaluation and learn options available to you.
Filing a Chapter 13 bankruptcy is a powerful option to immediately stop the sale of your home. Once your petition is filed, an automatic stay takes effect, and foreclosure proceedings are halted, as are all stressful phone calls and visits that creditors engage in to remind you of your financial obligations.
A Chapter 13 filing allows you to keep your home and reorganize your debts over a three-to-five-year period. While your plan of reorganization is active, you are protected from additional attempts at foreclosures by lenders. Your sheriff’s sales attorney at our Madison, NJ office can file an emergency petition for bankruptcy prior to the sale date of your home to ensure the automatic stay is in place.
As a debtor and homeowner, you can request two adjournments of up to 30 days to pause a sheriff’s sale. The lender can also request two adjournments; and if you and your lender agree, a fifth adjournment is also possible. In some cases, further adjournments may be possible for hardship reasons or by court order if there is just cause. A fee is required, but an adjournment can be valuable because it gives you and your attorney time to negotiate a mortgage loan modification or for you to consult us so we can find the right solution. If a sheriff’s sale is imminent and you are not sure what to do next, our experienced Madison lawyers can provide keen legal insight.
There are actions you can take before a sheriff’s sale is scheduled to auction your home. Our experienced attorneys could negotiate with your lender to restructure your loan and avoid foreclosure and a sheriff’s sale, or arrange a second mortgage that strips the lien. You might also consider selling your home in a short sale, which your lender supervises, to avoid foreclosure. Your Madison attorney from Gillman Capote brings a reputation of caring and successful advocacy to your sheriff’s sale case. We have been dealing with bankruptcy courts and their judge for more than 25 years and we know how to act fast when your future is at stake.
A Chapter 13 bankruptcy petition allows you to reorganize your debt with a plan sanctioned by the court and your lenders so you can regain your financial footing after an unexpected illness, interruption of your wages, or other major setbacks. It may even save your home from foreclosure by the mortgage lender if a sheriff’s sale is pending or you have received notice of foreclosure.
The attorneys from Gillman Capone dedicate their practice to helping homeowners choose the best solution to get back on their feet. If you find yourself in an untenable position and you need guidance to make your next best move, a Madison sheriff’s sales lawyer is ready for you. Schedule a case evaluation now to learn more about your options.
Gillman Capone Law Group
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