Sheriff's Sales

Sheriff’s Sales are the option of last resort for the bank — and the thing that keeps you up at night.  The problem is that banks reflectively push toward a Sheriff’s Sale even when you are submitting loss mitigation packages, working toward a sale, or attempting to put a workout together.  This is because too often the people at the bank reviewing your loan modification don’t know what the people at the other end of the hall pushing the foreclosure are doing.  The one hand doesn’t talk to the other.  And this is how bureaucracies operate.  But, you need to save your home.  First, you need to exercise your 60-days of statutory stays of sale.  Second, you need a plan to save the home or move to a non-enforced sale, and need to show the Court progress and diligence.  Finally, you need to secure the bank’s buy-in or at least their acquiescence that your solution is better than a Sheriff’s Sale.