QUESTION
What can I do if my home was sold through a sheriff's sale, but the sale has not been completed?
Asked on Jan 29th, 2013 on Foreclosures - Nevada
More details to this question:
Is this the same thing as a redemption period and what can I do, if anything to try to save it as my last resort.
3 ANSWERS
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It depends on the law of the state where the property is located. In Arizona you have 6 months after the sheriff's sale to redeem. If you fail to redeem in that period then the new owner holds free title. Since your e-mail does not state where your property is located - please talk to a good foreclosure attorney in the state where you live.
Answered on Feb 01st, 2013 at 12:53 AM
The redemption period is different than the sheriff's sale. You generally have 6 months from the date of the sheriff's sale to "redeem" or buy back your property. The sheriff's sale is the final step in the foreclosure. But you seem to think that the sheriff's sale "has not been completed". I don't understand this. I would contact a consumer protection lawyer immediately to review these issues. If you want to stay in your home and challenge the foreclosure, the best time to do that is BEFORE the sheriff's sale. You lose significant legal rights if you challenge a foreclosure after the sheriff's sale. Therefore, timing is critical. You should contact a lawyer right away.
Answered on Jan 31st, 2013 at 11:43 PM
There is a one year right of redemption if the sale was after a judicial foreclosure, meaning that the lender filed a lawsuit for the foreclosure. If it was a non-judicial foreclosure (a deed of trust foreclosure and sale), there is no right of redemption. If it was a non-judicial sale and the Trustee's Deed has not yet been recorded, you could sue for an injunction and damages if there were any wrongful acts in the foreclosure process. You need a lawyer to look at the documents.
Answered on Jan 31st, 2013 at 8:36 PM