Foreclosure advice

[cassie]

In actual practice, how long after the trustee's sale is held in a foreclosure, does one actually have to be off the property? Does anyone know?

 

[ranchhand]

I actually haven't a clue, but I am interested in hearing more about it. A lot of folks are facing this here in SC. Hopefully, we will hang on to the house, but it was pretty dicey last year.

 

[gritsar]

I have no idea but my heart breaks for any of our BYCers facing it.

 

[4Hchickenproject]

All I can find says 60 days given, but I don't know if that's a law or just generally common practice. And it may vary from state to state. Wish I could help you more.

A "Bing" search revealed this: http://www.illinoislegalaid.org/index.cfm?fuseaction=home.dsp_Content&contentID=4717 but I can't verify its validity.

 

[chickened]

It varies from state to state as it is state law. It can be immediate but as soon as 3 days is the norm if they really want you out. It is up to the new owner really.

 

[heathersboers]

We are going through it now...hubby lost his job a few months ago and finally has another....but it was too late. We are selling 95% of the animals.

We have 5 more days to come up with $1700 or that's it.....

 

[al6517]

It does vary from state to state, in the real liberal states you can pretty much almost stay forever (about 8mo) but in more conservative states it may be as little as 30 day's. There are things going on in the court system now to let deadbeats stay in their homes a very long time without paying a cent, they are blaming that on the deed recorders or Morgage managers not dotting the I's and crossing the T's.

 

[Dunkopf]

Cross your fingers you're in a liberal state I guess. Good idea to get some advice from someone that knows. If they get an eviction the sheriff shows up and throws your stuff out. They usually get the local jail convicts to take it out of your house and put it on the curb. From there it's up for grabs. I would stay as long as you can. The banks do a real crummy job of working with you. With all the bailouts and no interest loans they have been getting they deserve whatever happens to them.

The states that are extending the time are doing so because the lenders didn't follow proper procedures on foreclosures. If the borrower has to follow a contract it is only fair that the lender should have to also. I don't see why the lenders can't work with people. They're going to end up losing a lot more through a foreclosure than taking a smaller payment or putting past due payments on the end of the loan or something like that.

Good luck dealing with the jerks.

 

[chickened]

God forbid someone takes responsibility for their actions. Including the lumps and bumps of life that you have no control over. If you agree to something then It is an agreement.

 

[redhen]

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x2!
And we all could be there someday....