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Northeastern Pennsylvania Scranton, Wilkes-Barre, Pocono area
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Old 03-15-2011, 08:29 PM
 
15 posts, read 46,860 times
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a friend of mine has fallen on hard times and is facing a Sheriff Sale. He owes a bunch on his mortgage. What are his options as far as stopping the sale and buying time to re fianance or borrow money from family members?
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Old 03-15-2011, 10:36 PM
 
1,423 posts, read 2,288,737 times
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He should contact the bank and see what they need to stay the sale. Probably a lump sum. Some banks will deal, others will not.
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Old 03-15-2011, 10:53 PM
 
1,245 posts, read 1,925,354 times
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If it is a Sheriff sale, your friend could be behind on taxes. The only way to stop that, is to pay the back taxes. I assume they have already set up payments with the tax claim office and defaulted, if not call and make payment arrangements. I believe(check with an attorney or tax claim office) that a homeowner has up until an hour before the auction to pay the back taxes to stop the sheriffs sale.

If it is a sheriff sale for a mortgage foreclosure, they might as well pack their bags, unless they can get refinancing. If it has been scheduled for a sheriff sale, the house is already foreclosed and doubtful the lender will work out payment arrangements.

You can try this link, to see if any of them can help.
Avoid Foreclosure: Pennsylvania
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Old 03-16-2011, 06:36 AM
 
2,362 posts, read 2,649,290 times
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Cut his losses , get out from the BIG note and rent a small apt .. If he dont have $$$$ now , He wont have it next month either ..
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Old 03-16-2011, 10:38 PM
 
1,423 posts, read 2,288,737 times
Reputation: 513
Quote:
Originally Posted by Lehigh Valley Native View Post
If it is a Sheriff sale, your friend could be behind on taxes. The only way to stop that, is to pay the back taxes. I assume they have already set up payments with the tax claim office and defaulted, if not call and make payment arrangements. I believe(check with an attorney or tax claim office) that a homeowner has up until an hour before the auction to pay the back taxes to stop the sheriffs sale.

If it is a sheriff sale for a mortgage foreclosure, they might as well pack their bags, unless they can get refinancing. If it has been scheduled for a sheriff sale, the house is already foreclosed and doubtful the lender will work out payment arrangements.

You can try this link, to see if any of them can help.
Avoid Foreclosure: Pennsylvania

Sheriff sales are not for back taxes. Tax sales are for back taxes. Tax sales can usually only be satifised by paying the full amount owed.

Sheriff sales are for credit card debt, judgements, mortgage forclosure, etc. The banks and creditors want their money and most times will settle for a determined amount, after which the person is still obligated to make payments and finish out the mortgage or contract. It's in everyones best interest to work things out. Some banks take a hard line with it, but they are the exception.

While there are state regs on these things, procedure varies from county to county. Don't go by a website, call your local department and see what deadlines THAT OFFICE has set for last chance payments, stay of sale, etc. They do things they way they want to do things, state regs or not.

You may be trying to help, but basically everything you posted is wrong. Please make sure to know what you're talking about before posting incorrect information on a topic such as this where a person may lose their home.
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Old 03-16-2011, 11:22 PM
 
1,245 posts, read 1,925,354 times
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Quote:
Originally Posted by scrantonluna View Post
You may be trying to help, but basically everything you posted is wrong. Please make sure to know what you're talking about before posting incorrect information on a topic such as this where a person may lose their home.
I can't be right all the time, but you are right, I royally screwed this one up.

However, it is of no consequence to me, that someone could be losing a house because of bad advice on a forum. If they indeed lost a house based on bad advice in one comment, well, they shouldn't be a homeowner anyway and have bigger issues.

I will now allow you to go back to your over dramatization of the issues at hand.

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Old 03-17-2011, 07:49 AM
 
Location: Saylorsburg
9,255 posts, read 7,874,482 times
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Unfortunately, in this day and age... banks have not been so honest... some foreclosures happening out there have been proven not to be legal and have been stayed because a lot of the banks/loan servicers can not prove ownership of the note.

Produce The Note - "How-To" | The Consumer Warning Network

hopefully that isn't the matter in your friends case, but you never know!
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Old 03-17-2011, 11:24 AM
 
1,423 posts, read 2,288,737 times
Reputation: 513
Quote:
Originally Posted by Lehigh Valley Native View Post
I can't be right all the time, but you are right, I royally screwed this one up.

However, it is of no consequence to me, that someone could be losing a house because of bad advice on a forum. If they indeed lost a house based on bad advice in one comment, well, they shouldn't be a homeowner anyway and have bigger issues.

I will now allow you to go back to your over dramatization of the issues at hand.

Talk about a lousy attitude.
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Old 03-31-2011, 11:35 AM
 
15 posts, read 46,860 times
Reputation: 28
Folks, Thanks for some the replys. Just a quick update to this, my friend was able to convince the Sheriff of a hardship case and got a 90 day extension. Then, he got a job at a local trucking company and it appears to be a good one that fits his schedule with kids and school and stuff. The mortgage company has settled for a lump sum payment of 2K to back off for 90 days also before normal payments resume. This could be the break he needs to get back on his own two feet.
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Old 08-12-2011, 07:26 PM
 
3 posts, read 21,063 times
Reputation: 10
Quote:
Originally Posted by scrantonluna View Post
Sheriff sales are not for back taxes. Tax sales are for back taxes. Tax sales can usually only be satifised by paying the full amount owed.

Sheriff sales are for credit card debt, judgements, mortgage forclosure, etc. The banks and creditors want their money and most times will settle for a determined amount, after which the person is still obligated to make payments and finish out the mortgage or contract. It's in everyones best interest to work things out. Some banks take a hard line with it, but they are the exception.

While there are state regs on these things, procedure varies from county to county. Don't go by a website, call your local department and see what deadlines THAT OFFICE has set for last chance payments, stay of sale, etc. They do things they way they want to do things, state regs or not.

You may be trying to help, but basically everything you posted is wrong. Please make sure to know what you're talking about before posting incorrect information on a topic such as this where a person may lose their home.
Our house in undergoing a sherriffs sale next month,and it clearly states TAXES
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