Full question:
I am asking this question for my daughter and her family. They were served a foreclosure today by the sheriffs dept. stating there house would be sold to the highest bidder Nov.16, 2009. They have two small children, 8 mo& 2 yrs. I was told by someone that with two children the notice could be delayed an additional 90 days. Is there any truth to that or is their any way to get a foreclosure delay? My son in law has been out of work for 18 mo.
- Category: Real Property
- Subcategory: Foreclosure
- Date:
- State: North Carolina
Answer:
Foreclosure typically takes about 90 to 120 days to complete if uncontested. This timeline can be extended if the borrower contests the foreclosure in court, seeks delays, or files for bankruptcy. Having young children does not automatically delay the foreclosure process by 90 days. However, there are some potential avenues for delay:
1. **Court Contest**: If your son-in-law contests the foreclosure in court, it may delay the process. He can request a temporary restraining order, a preliminary injunction, or a permanent injunction to halt the foreclosure.
2. **Bankruptcy**: Filing for bankruptcy automatically stays a foreclosure proceeding. This can provide time to negotiate with the lender or reorganize finances.
3. **Judicial Discretion**: In some cases, judges may grant delays based on specific circumstances, including efforts to resolve the mortgage default voluntarily.
4. **State Laws**: Some states have laws that allow for postponements or continuances in foreclosure hearings, particularly if the borrower occupies the property as their principal residence.
In North Carolina, for example, the clerk may postpone a foreclosure sale for up to 90 days if there is good cause shown (N.C. Gen. Stat. § 45-21.21). However, this does not guarantee a delay simply because there are young children involved.
It’s advisable for your daughter’s family to consult with a legal professional who can provide guidance based on their specific situation and local laws.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.