The Louisiana Sheriff Sale Information Sheet is a document that provides important legal and financial information to the public about a property that is being sold at a sheriff sale, also known as a foreclosure sale. The information sheet is designed to help buyers make informed decisions about the property they are purchasing and to provide transparency to the entire process. The information sheet includes the address of the property, the type of property, the amount of the lien, the date of the sale, the name of the mortgagor, and the name of the sheriff who is conducting the sale. The Louisiana Sheriff Sale Information Sheet comes in two versions. The first is a “Notice of Sale,” which contains the information mentioned above. The second is a “Proof of Claim,” which includes additional information such as the names of the lien holder or mortgagee, the amount of the lien, and the date the lien was recorded.
Louisiana Sheriff Sale Information Sheet
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How to fill out Louisiana Sheriff Sale Information Sheet?
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FAQ
The Sheriff's sale is an auction of the mortgaged premises pursuant to a judgement and Writ of Execution. Execution is commenced by the plaintiff (usually the mortgage holder) in a civil action by filing a Praecipe for Writ of Execution with the Prothonotary.
Most foreclosures on Iowa property take about 5 or 6 months to complete. Iowa is a judicial foreclosure state.
For most properties it is a six month period. If the homeowner moves out and the property has been declared abandoned, the redemption period can be shortened to one month. For some large properties and those with a lot of equity, more than two-thirds of the loan has been paid, the redemption period may be longer.
Sales are held as an auction and will be sold to the highest bidder. The mortgage company is entitled to the opening bid and comes to the Sheriff's Office as a sealed bid. If no one else bids, the property will be sold to the bank for their bid. Whoever has the highest bid, over the bank's bid will be the purchaser.
Is there a way for me to stop a sheriff's sale of my home? Before a judgment is entered you can file a "Demand for Delay of Sale" with the court to delay a sheriff's sale of your home. This can be filed whether or not you file an Answer to the foreclosure petition.
A CERDO must be filed 10 days before a scheduled Sheriff Sale in order to delay the sale. Clients can file a completed copy of the CERDO form in Room 296. There is no filing fee associated with a CERDO.
A sheriff's sale auctions off defaulted or repossessed properties at the end of the foreclosure process. At the auction, members of the public may bid on the seized property, often sold in as-is condition. Sale proceeds pay back the mortgage lenders, banks, tax collectors, and other claimants.
The lender files a lawsuit (a foreclosure petition) with the court that is served to the homeowner. The homeowner can respond (give an answer) or do nothing. If the homeowner declines to answer, the lender wins by default judgment and can move forward with selling the home.