What Happens After a Writ of Execution of Foreclosure?

Foreclosure formally starts when your mortgage lender goes to the court and sues you. If the judge finds in favor of the lender, then the judge issues a Writ of Execution of Foreclosure. It is after the issuance of this writ that the foreclosure process becomes most serious, and you are at the highest risk of losing your home.

Contact of Sheriff or Public Trustee

A formal Writ of Execution of Foreclosure tells a mortgage lender and its attorney that it has the right to proceed with the foreclosure process. Thus, once the judge issues the writ, the lender's attorney gets in touch with the sheriff or public trustee for your jurisdiction. The attorney asks that the sheriff or public trustee schedule a formal sale, or foreclosure, date for your home. Typically, lenders move forward fairly quickly with this step following the grant of a writ because even though they typically sincerely don't want you to lose your home, they also don't want to lose the money to which they are entitled.

Notice of Sale

Once the sheriff or public trustee has arranged a foreclosure date for your property, he issues an official Notice of Sale and sends it to you. Getting this letter doesn't mean that you've lost your home. Rather, the letter explains that your lender is foreclosing on your house. It also indicates the date on which the lender intends to hold a sale for your home. The sheriff or public trustee always tries to find a foreclosure date that follows the foreclosure laws for the jurisdiction, is suitable to the court and meets the needs of the lender.

Final Payment Opportunity

After you receive a Notice of Sale, the lender usually gives you an opportunity to come up with the money you owe on the mortgage, as well as money to cover the lender's legal and foreclosure administrative fees. In rare instances, a homeowner can actually do this, paying the mortgage lender and saving ownership of the house. More commonly, however, a person who is behind enough on mortgage payments to be in foreclosure cannot make good on the mortgage debt, particularly if the mortgage contract has an acceleration clause that stipulates that the note is due in full if the lender must pursue foreclosure.

Sale of Home

After the redemption period in which you have the chance to bring your mortgage account current, the sheriff or public trustee oversees the foreclosure sale for your house. The home is sold to the highest bidder during the sale. If the buyer comes through with payment for the foreclosed home, he becomes the lawful owner of the property and you lose your legal right to the home, despite any mortgage payments you have made to the lender.

Eviction

If your house is purchased in the foreclosure sale and the buyer's deal goes through with no flaws, you must move from the home. If you do not do this, the lender and the buyer have the right to evict you physically from the property.

---

• 
  

  File No. STATE OF NORTH CAROLINA WRIT OF EXECUTION

  www.nccourts.org/Forms/Documents/246.pdf PDF file

  out of the personal property of the defendant, and if sufficient personal property cannot be found, then out of the real property belonging to the defendant on the ...

• Writ of Execution - Clark County

  www.clarkcountynv.gov Constable Las Vegas Constable

  WRIT OF EXECUTION/GARNISHMENT INFORMATION Upon receipt of an Execution/Garnishment, service is completed promptly. If you are garnishing wages,

• Writ of Execution - Bad Debt Collections Lawyer/Attorney in

  www.texascollections.com/Writ_of_Execution.htm

  Menu. Contact Us The Blog Our System Collecting Judgments Slippery Debtors Foreign Judgment Getting Started TRO/Temporary Injunction Foreclosure Construction

• What is a writ of possession - Answers.com Wiki

  wiki.answers.com Categories Business & Finance Real Estate

  Dictionary Answer A writ of possession is a legal precept directing a sheriff to put a person in peaceable possession of property recovered in ejectment or writ of ...

• Writ Of Execution Services, Questions, Answers and News.

  www.rightsofachild.com/Family+Law/Writ+of+Execution

  Question: What happens after a writ of execution has been issued in the state of Arkansas? I was served a writ of execution for delinquent state taxes.

• What Happens After Foreclosure? Eviction, Redemption Periods ...

  ezinearticles.com Real Estate Foreclosures

  Nov 04, 2009 Short article about what happens after foreclosure. While what happens can vary depending on the state you live, this article will get pointed in the

• What Happens After a Default Judgment? eHow

  www.ehow.com Legal Other Areas of Law Civil Law Suits

  What Happens After a Default Judgment?. For a plaintiff, a default judgment means a quick end to a potentially long civil court battle without having to go to court.

• Lawriter - ORC - 1923.13 Writ of execution.

  codes.ohio.gov Chapter 1923: FORCIBLE ENTRY AND DETAINER

  1923.13 Writ of execution. (A) When a judgment of restitution is entered by a court in an action under this chapter, unless the plaintiff or the plaintiff's ...

• What Does a "Writ of Garnishment" Mean? - wiseGEEK

  www.wisegeek.org/what-does-a-writ-of-garnishment-mean.htm

  A writ of garnishment is issued when a judge determines that somebody has to take money out of his or her paycheck to pay another...

• What Does Writ of Possession Mean? eHow

  www.ehow.com Legal Trusts & Estate Law Estate Law

  What Does Writ of Possession Mean?. A writ of possession is a court order granting tangible property back to the possession of a landlord. Usually a dwelling, the ...

• Frequently Asked Questions of the Housing Court Department

  www.mass.gov Home Courts Trial Court Departments

  This is the website of the Massachusetts Court System. This site provides information and resources for members of the public and for attorneys.

• Eviction after the Foreclosure Auction - Foreclosed Dreams

  www.forecloseddreams.com/eviction-after-foreclosure-trustee-sale

  Eviction looms after the gavel strikes at a foreclosure sale. Prepare early to move to a new home. Consider negotiating cash for keys or asking for more time.

• Welcome to the Clark County Courts in Las Vegas

  www.clarkcountycourts.us/CivilSHC/small-claims/contest-collection.html

  ClarkCountyCourts.us provides information and resources about Clark County's Eighth Judicial District Court and the Las Vegas Township Justice Court in Las Vegas, Nevada.

• Information Guide for WRIT OF POSSESSION (REAL

  civil.lasd.org/CivilProcess/cwig19.html?1

  Court Document required: Original Writ of Possession (Real Property) (EJ-130) plus three copies of the writ for the first debtor and ...

• Collect From the Debtor's Property - small_claims_selfhelp

  www.courts.ca.gov Ways to Collect From the Debtor

  Once you find out about the debtor's assets or property, you can follow the required steps to collect your judgment from those assets. Click on the topic below that ...

• Writ - Wikipedia, the free encyclopedia

  en.wikipedia.org/wiki/Writ

  In common law, a writ is a formal written order issued by a body with administrative or judicial jurisdiction ; in modern usage, this body is generally a court ...

• execution legal definition of execution. execution synonyms by

  legal-dictionary.thefreedictionary.com/execution

  Execution. The carrying out of some act or course of conduct to its completion. In Criminal Law, the carrying out of a death sentence. The process whereby an official ...

• ATTORNEY OR PARTY WITHOUT ATTORNEY (Name, State Bar

  www.courts.ca.gov/documents/ej130.pdf PDF file

  Form Approved for Optional Use Judicial Council of California EJ-130 [Rev. January 1, 2012] (not on GC 6103.5 fees). . . EJ-130 ATTORNEY OR PARTY WITHOUT

• What Paralegals Do (and What Lawyers Shouldn't Do?)

  www.lawcost.com/paras.htm

  Introduction: What Paralegals Do. General Tasks: What Paralegals Do; Bankruptcy Matters: What Paralegals Do. Business/Corporate Matters: What Paralegals Do.

• Foreclosure - Wikipedia, the free encyclopedia

  en.wikipedia.org/wiki/Foreclosure

  Foreclosure is a specific legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments to the lender by ...

• HOW TO COLLECT YOUR MONEY AFTER YOU WIN YOUR CASE

  www.riverside.courts.ca.gov/selfhelp/collectjdgmt.pdf PDF file

  SMALL CLAIMS-HOW TO COLLECT YOUR MONEY AFTER YOU WIN YOUR CASE You have won your case and have a signed Judgment. You are now the Judgment

• What Is A FIFA (writ of fieri facias) and How Can I Get Rid Of It?

  www.kellycanhelp.com/what-is-a-fifa-writ-of-fieri-facias-and-how...

  A writ of FI FA (writ of fieri facias) is a document that is issued by your local county clerks office for the purpose of recording a lien on your house after a ...

• Basics on Judgments

  www.mncourts.gov SHC Home FIND HELP WITH: Judgments

  "Creditor" is the party that won the case and was awarded a judgment by the court. "Debtor" is the party who lost the case and was ordered by the court to pay the ...

• landlord web writ

  www.landlordweb.info/?tag=writ

  AARP MedicareRx Plans United Healthcare (PDF download) united healthcare medigap (PDF download) CIGNA HealthCare Medicare (PDF download) United Healthcare