Snippets home page
 
 
register
 
 
real estate

How long do you have to vacate after a foreclosure?

I've heard you can stay in the home for 6 months sometimes

asked by Pete (17)

You have 50 words left!
 
 
related questions

How do I get a loan against the equity in my home.

Am I likely to be approved for a second home loan after a foreclosure?

How long does a foreclosure stay on your record?

How long does it take for a foreclosure to go to auction?

How long does it take for a foreclosure to take place?

What are the eviction laws in Virginia when a home has been foreclosed on?

What happens if I have a foreclosure on an 80/20 loan in AZ?

Tags:  debt  home improvement  real estate

answers

that really depends upon a lot of variables. Under normal circumstances you will have epproximately 1 month to vacate the premises. Could be up to 2 months depending on the situation.

7 votes

Typically, depending on the company or bank handling the foreclosure, one can stay in the house for up to 90 days before being forced to vacate by police. However, it is not uncommon that one can stay longer if the bank or company holding the mortgage is lenient.

6 votes

The length of time you have to vacate depends on the state you live in as well as the mortgage company that services your loan. Often times, it can be as little as 30 days, and I have also heard that sometimes you can take up to six months.

6 votes

When you miss three payments then they start to foreclose. Once that process starts you'll get a letter to pay up. If don't then they'll send an intent to foreclose letter and finally a vacate letter. 4-5 months tops for everything.

reply
posted by Amom (690)
6 votes

It depends on the state. In California as the owner-in-residence, you have three days to vacate. In Arizona, as soon as the house sells at auction, you should have been gone. There are stories of new owners (typically banks and investors) who are allowing residents to remain.

6 votes

Typically it takes 3-6 missed payments. If you are unable to bring the past due loan amount current, the bank or lender will transfer the loan into a loss mitigation department to either prepare the property for short sale or auction, or work with borrower to structure loan modification.

reply
posted by mansi (503)
3 votes

Report a post on this page as inappropriate
 If you have questions about user content, read our liability disclaimer

  
   
Add your own answer in 50 words or less! Add your comment in 50 words or less!

copyright © 2008
conjecture corporation

FAQ About Us Contact Us Terms & Conditions Privacy Policy