Third Circuit Supports “Gavel Rule” Holding that a Foreclosed Property is “Sold” at the Sheriff’s Sale and Not after Delivery of the Deed
For more than ten years, New Jersey Federal Bankruptcy and District Courts have been divided over whether Chapter 13 debtors have the right to cure a default on a mortgage secured by the debtor’s principal residence between the time the residence is sold at the foreclosure sale and the time the Sheriff delivers the deed. […]
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