Sheriff's Sale

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Sheriff's Sale

An auction to sell private property that an authority has seized in order to pay a judgment. For example, suppose a man is found guilty of managing a Ponzi scheme. If he lacks the cash to repay the persons he defrauded, his house may be seized and later sold at a sheriff's sale.
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References in periodicals archive ?
But, rather than give up at this point, the loan workout specialist can be working on a parallel line to formulate a pre-foreclosure plan while the case is proceeding to a sheriff sale. The trick is to strictly limit the criteria for which the foreclosure process may be postponed or cancelled.