how long do we have we are about to get our evicition notice,have not recieved it yet?

Question

purchased building in 1994 got behind on house payments and taxes lost source of income,was just notified of the amount it would take to catch up,how long do I have before they can evict me

Answer 1

As you were making payments then I would guess your about to be foreclosed on. As stated above you could have as much as several months..
but theres still hope! go talk to your bank now before they do...
Banks hate to foreclose and will work with you on catching up
or at least helping you sell what you have so you can walk away with a little money...even in this market!

wose case I would figure out your current total due
then post it on ebay as that amount being the openng bid.
that way even if you lose the house you may have the extra money to get you started in a smaller cheaper place.

Answer 2

Most lenders won't start foreclosure proceedings until you are 2 - 3 months behind. If that's where you are, call the mortgage holder and see if you can work something out.

Once the foreclosure process starts it normally doesn't take long to complete it though that does depend upon local laws and practices. The foreclosure may include an eviction order or the lender may have to file for that separately. In either case, once it gets to that point you'll be out within 30 days typically.

Answer 3

You dont have to get evicted..this is a forecloser. You can either refinance or sell. yes you will have trouble getting a loan with some bad cridit history but you CAN get one becuase you have property, refinancing can give you the money to pay the taxes...but i would sell because it seams like you cant afford to maintain this home.
get a realestate agent TODAY. sign the paper work put the house on the market. (do not let it get forclosed on) what every you paid for that house in 94, that house is worth twice that now at least. it is a buyers market, so you may have to sell it for a little less than the value. But you WILL get way more than you paid for it, probably enough to buy anouther less expensive home or a condo, but certainly enough to live on for a little while if you need to do that (but i strongly advise avoiding spending what ever you get with out getting into another property.)
To get the most for your money out of that house...pack every thing up that you own except for the basics, no apliances on the counters nothing on the tables just a bed and dresser in the rooms. PAINT everything with a fresh coat of paint and clean everything even if youhave to have friends come into help. hold open houses...but most Importantly sign the papers to put it on the market. Most realestate agents will buy your house if you cant get it sold by a deadline, and some can even get you help getting the place ready for sale.
spend about a week shopping around for realestate agents and checking hte market value in your area by looking at what else is on the market like yours, in your area...IF YOU HAVE ANY MORE QUESTIONS EMAIL ME. I WILL GET YOU IN CONTACT WITH A REALESTATE AGENT IN YOUR AREA.

Answer 4

If you have ten years worth of equity in the building, you should be able to sell it quickly, pay off the lender and still have some money left in your pocket.

Its easiest to do at the start of the process. Get a real estate agent and start looking for a buyer pronto!

Answer 5

Do you own this property or are you renting it? Eviction and foreclosure are 2 different things. If you are about to be evicted, you probably have less than 30 days. If it's a foreclosure, probably several months.

Answer 6

It will be on the eviction notice. You can protest it and gain some more time, but if you are supposed to go then the honorable thing would be to go.