If a house is put up for foreclose is there a amount of time for you to retrieve it back?

Question

If your house was taking by foreclosure do you have a amount of time to get it back from the state or anyone?

Answer 1

Your notice will say how long you have to reclaim it. Once the Sheriff's sale arrives, kiss it goodbye.

If you can't afford the home, maybe you should just let it go...

Answer 2

For many years the following governed for mortgage loans:

1. after notice of default(missing payment)the lender could not begin action to take back the property for 1 year.
2. after foreclosure action started the buyer had 1 year to make all payments and stop the foreclosure.

Because of these rules a lender demanded two years of rental value for a property as a down payment.

While a modern property loan is still called a mortgage loan, the loan is really a "deed of trust loan" which means if you miss one payment the lender can immediately begin foreclosure actions and tell the deed of trust trustee to notify the public that the property will be put up for sale at a specified place and time. Once this is started your only recourse is to bid high at the public auction to recover the property.

Answer 3

yes there is ! contact the lender get the amount they are asking and then try to go to a another lender that help in foreclosure or gather the funds that you are in the arrears and up til the day they foreclose you can pay it ! best of luck

Answer 4

Absolutely - pretty much right up to the time of the actual foreclosure or auction.

Answer 5

You have no owner's rights after foreclosure, but can bid on it at auction like anyone else.

Answer 6

Before the deadline you have to get the payments up to date.

Answer 7

No. The ppty will not be released unless you have paid off all your debts.

Answer 8

yes, but it depends on the state- how much time you have -