Is a foreclosure happening to you?
Are you an
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
in a property is named in the foreclosure action, including all owners, other lien
holders, tenants, etc.
Contact your own
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
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
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 a straight-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
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
you'd like to learn how to salvage some money, and some dignity, from your
distressed property, please contact:
Cherokee Equities, LLC
133 Maple Avenue
Red Bank, NJ 07701
Fax (732) 741-2009
Fax (732) 741-2009
Click here to send
Jay Wolfkind an email