Sherrif's Sale

[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.

[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)!

[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...

[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.

[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]

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]

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?