Begining the foreclosure process prior to 1/1/2008

Starting a Foreclosure
 
After the Office of the Public Trustee receives the required documentation from the foreclosing party or their legal advisor, a Notice of Election and Demand is recorded in the County Real Estate Records, and the foreclosure Notices of Right to Cure or Redeem are mailed to all parties as required by law. See requirements: Required documents by the Foreclosing Attorney (34kb, pdf).

A Notice of Sale, which establishes the time and place of sale, is published for five consecutive weeks and mailed to all parties as required by law.  Currently, foreclosures are published in the Golden Transcript. It is important to note that the homeowner is still the owner of the property thru the foreclosure process and is the only one who can allow access, sell or transfer title to the property.

Foreclosure sales currently being continued due to bankruptcy or any other reason can be tracked using the Jefferson County Public Trustee's online search at: http://gts.co.jefferson.co.us/ The information on the property search site is deemed reliable, but accuracy cannot be guaranteed.

--------------------------------------------------------------------------------
 
Bankruptcy
 
When a bankruptcy is filed, the bankruptcy court will issue a court order that prevents any creditor from attempting to collect any debt from the person who declared bankruptcy. Creditors, even though they are owed money, may not undertake foreclosure, repossession, eviction or seizure.
A bankruptcy filing by the owner of the property stops the foreclosure sale until one of the following occurs:

The automatic stay is lifted.
The bankruptcy court abandons the property.
The bankruptcy case is dismissed or closed.
The Bankruptcy can affect the foreclosure in different ways depending on the date and time of the filing of the bankruptcy, and where the foreclosure is in the process.

--------------------------------------------------------------------------------

What's Next?
 
Go on to the next stage of the foreclosure process by selecting it from the timeline from the foreclosure process page or click this Foreclosure Process link.
 

Last Modified: Dec 2, 2009 08:02 AM