Cherokee Equities
   Is a foreclosure happening to you?  
 
Are you an interested party in a foreclosure action instituted by Cherokee?

Why were you served? When a New Jersey Tax Sale Certificate remains unpaid after two years, the owner of that lien is obliged to begin a foreclosure in Court to compel settlement. This process is called "foreclosure", and can result in the termination of the rights of interested parties in a property. In other words, you can lose the property, or whatever rights to had relative to it. Anyone with an apparent interest in a property is named in the foreclosure action, including all owners, other lien holders, tenants,etc.


Contact your own attorney immediately....
If you can't afford an attorney, consult the Legal Aid Society in your County or community for free legal assistance. Here is a link to an Information and Referral source for legal assistance: Legal Services of New Jersey. This service is free if you qualify as low income. This link is provided in good faith, but we make no representations that you will be entitled to, or receive, free legal services, nor can we attest to the quality or quantity of those services.


The information on this page is not intended to replace the advise and counsel of a competent attorney. Do not rely on anything you read on this web site or elsewhere on this web site for anything other than preliminary information.

What is a Tax Sale Certificate?
When municipal property taxes are not paid, the Tax Collector of that municipality conducts a public proceeding at which a "Tax Sale Certificate", representing the unpaid taxes, is "sold" to an investor. Thus the municipality receives the money needed to provide services, and the investor gets a secured investment, sometimes earning as much as 18
% interest. The Tax Sale Certificate is a lien against the subject property, just like a mortgage. If the Tax Sale Certificate is not paid (within 2 years), the holder can begin foreclosure, just like a bank when a mortgage is not paid. Tax Sale Certificates are also called "Tax Liens", "Certs", or simply "The Taxes."

Who is Cherokee, and what do we do? Cherokee Equities LLC is a real estate investment company. We buy Tax Sale Certificates and delinquent mortgages collateralized by New Jersey real estate. Our specialty is residential, income-producing property in Central New Jersey. We further specialize in properties that are in need of great physical repair, usually vacant, boarded-up properties that are blight their neighborhoods. We acquire dilapidated properties, or the liens encumbering them. We acquire title, repair the properties, and then rent or sell them via our affiliated companies.

Why is Cherokee foreclosing? Cherokee acquires by assignment Tax Sale Certificates that are two or more years old, or mortgages delinquent for six or more months, and then contacts the owners and other interested parties, seeking a negotiated resolution. If a negotiated resolution is not possible, we reluctantly institute a foreclosure action to compel settlement of the debt. This is the only way to collect the debt. If the debt (Tax Certificate or delinquent mortgage) is not paid, we acquire title to the property via judicial action or Sheriff's Deed.

If our attorneys have started a foreclosure action, that means we own either a Tax Sale Certificate or a defaulted mortgage, and we are essentially giving interested parties a last chance to pay the debt, or the property will be sold to pay that debt.

Have you abandoned the property? Often, the owner(s) of a property owe more money than the property is worth, or have so many other problems that they can't, or don't want to, keep the property. They stop paying the taxes and mortgage, don't do any repairs or maintenance, and just "let it go." Any occupants suffer, as does the neighborhood.

Cherokee will buy your interest, for cash. If you have an interest in a property, such as being an owner, holding a mortgage, Tax Sale Certificate or recorded judgment, we'll pay you a fair price for it, quickly. Unlike many investors that simply foreclose and evict, our philosophy includes compassion and understanding, and acting in an ethical and responsible manner with all those with whom we work. This includes distressed property owners who may have no equity left.

If you have an interest in a distressed New Jersey property, whether or not Cherokee is currently involved, we invite you to call us to discuss the situation. Alternately, ask your attorney or other advisor to call us. When you call, you'll have no pressure, and no embarrassment, just astraight-forward conversation about the situation, and what we can do for you. If you only need a little more time, or wish to stay in the property untenured, we can consider these and other situations.

Please call, toll free, (800) 543-0201 and ask for Jay Wolfkind. Alternately, since by reading this page you evidently have Internet access, you may contact Mr. Wolfkind by clicking here to send him an email.

Don't lose everything. Most people involved in a foreclosure on a "worthless" property don't even answer the notices, and lose by default. Cherokee will pay you for the relative value of your interest, and help you bring closure to a painful issue, with dignity. To learn how much Cherokee might be able to pay you, please call toll free (800) 543-0201.


Interested Party. This includes anyone with a legal interest, such as an owner or close family members of an owner, a mortgagee or it's assignee, holder of a Tax Sale Certificate, or holder of any other recorded judgment or lien on the property or the owner of the property.

Important Notices: The information on this web page, and the remainder of this web site, is believed accurate. However it is subject to errors, omissions and corrections. We are not attorneys, and we can not and do not provide legal, accounting or tax advise. All the information on all the pages of this web site are based on our understanding of the laws of the State of New Jersey, and do not apply elsewhere. You are urged to independently verify any information, and obtain independent legal counsel. Cherokee Equities LLC has an adversarial relationship with many of the interested parties involved in the process of collecting the value from a Tax Sale Certificate or Mortgage, and you should proceed cautiously and accordingly. Nothing here should be construed as an offer or promise, which can only be made in writing by an officer of our company. Some individuals associated with one or more Cherokee companies are also licensed real estate sales people associated with Quest Commercial, Inc., a licensed New Jersey real estate broker.

If you'd like to learn how to salvage some money, and some dignity, from your distressed property, please contact:

Mr. Jay Wolfkind

Cherokee Equities, LLC
133 Maple Avenue
Red Bank, NJ 07701

(732) 741-2000

Fax (732) 741-2009
(extension 11)
Fax (732) 741-2009
Click here to send Jay Wolfkind an email

 
 
  Legal Stuff (Terms of Use, Copyright, etc.)
Search
Contact Us
1998-2003 Cherokee Equities LLC  E. Brunswick, NJ