What does it mean if an auction is stayed?
What does it mean if an auction is stayed?
When a writ, or specific written order, is stayed, the court has decided to stop a particular action, typically the foreclosure process as a whole. Sometimes the borrower finds money to pay the loan off, or wants to notify the court of illegal actions taken by the lender.
When does a sheriff’s sale take place in a foreclosure?
The property is typically repossessed by a mortgage lender at the end of a foreclosure, but it can also be seized to satisfy judgements or tax liens. The local sheriff presides over the sale, giving it its name. A Sheriff’s Sale does not occur until after a lender files a foreclosure lawsuit.
Where do sheriff sale recaps take place at?
Your Sheriff Sale Recap Properties sold at Sheriff Sales are foreclosures. These events are open to the public and are typically held on your courthouse steps.
Can You Keep your home after a sheriff’s sale?
After the sale you have no right or title to the home and you will be notified of the date by which you must leave the property. As the owner of the property, you can take steps at any time prior to the sale to halt it and keep your home. You also have options for a brief period after the sale.
When does the sheriff post a sale notice?
Often, the sheriff will also post a notice at the property itself 30 days prior to the sale. This is not a requirement so checking the website and newspaper is your best option to see the schedule. The sale will also be listed on the website though it may be somewhat delayed.
What happens to a property at a sheriff’s sale?
In a sheriff’s sale, the initial owner of a property is unable to make their mortgage payments and legal possession of the property is regained by the lender. The lender will then attempt to sell it to recover some, if not all, of the outstanding mortgage balance.
Often, the sheriff will also post a notice at the property itself 30 days prior to the sale. This is not a requirement so checking the website and newspaper is your best option to see the schedule. The sale will also be listed on the website though it may be somewhat delayed.
Your Sheriff Sale Recap Properties sold at Sheriff Sales are foreclosures. These events are open to the public and are typically held on your courthouse steps.
How to stop a sheriff’s sale in Philadelphia?
Information on buying a property from a sheriff’s sale, stopping a sheriff’s sale, and claiming excess sheriff sale funds. Description of the Tax Sale Escrow Program, which lets people request that a tax-delinquent property be sold at a sheriff sale. Resources to avoid losing your home through foreclosure in Philadelphia.