Real Estate Owned Properties

At Stern & Eisenberg we continue to handle and manage the foreclosure process beyond the sheriff's deed.   With the assistance of our title company, we manage and coordinate REO title review and manage all of the components of the out sale.

Post-Sheriff Sale Title Review

Once the foreclosure is completed and the sheriff's deed has been issued, we review the title history and foreclosure to make sure the proper entity has received title to the property.  In our environmental of questioning entities, it is critical for us to review and confirm that the foreclosure process and deed were done in the appropriate name.  Even when our own office has completed the foreclosure, it is imperative for one more check to take place.  

We also check to make sure that there are no other liens to be addressed.  During the foreclosure we expect all subordinate liens to be removed through the judicial process; however, it is not always the situation. Whether a lien was missed on a prior foreclosure search, not made a defendant (in NJ), not listed on the notice of sale (in PA) or removed or insured off in a prior transaction, we need to determine whether or not action is required.  Through the combined effort of the law firm and title company, our goal is to determine the title issues (or lack thereof) and advise the client of the situation with proposed solutions.  

Our goal is to clear title and close transactions.  Identification of issues does not end at the identification.  Our goal is to smoothly proceed with transactions and title issues that cannot be cleared by our title managers will be escalated to our title trained attorneys for review.  Solutions, not blame, is our first concern for our clients.

Closing Management

Through our title company (& law firm) we provide full lines of service to bring any property to a closing.  Whether or not we are the title company providing the final closing services, we coordinate all parts of the transaction on behalf of our clients.

If we are needed to negotiate terms, we are available.  Once a contract has been obtained we go to work to bring the transaction to a swift conclusion.  We cooridinate with the realtors, mortgage company, seller and buyer, as well as all other players, to make sure we can hit our target settlement date.

Short Sales

Our offices handle and coordinate short sales for buyers and sellers and takes an active roll in the process to bring properties to closing.  With our experiences and knowledge of the potential impact of a short-sale, we are well suited to assist our clients in bringing short sales to a conclusion, so long as the numbers work for the parties.