2007-02-03 20:24:56 · 7 answers · asked by jay G 1 in Business & Finance ➔ Renting & Real Estate
You technically are to move out the day you stop paying the mortgage. The foreclosure is a court order allowing the lien holder to actually execute that right. On the court date, the judge fully strips the "owner" of any rights to the property. You are no longer entitled to be in the property...
But read on...
What varies state-to-state is how long it will then take the lender to physically kick you out. In some areas, the lender can walk down to the marshal's office and get you booted that day. In other locations, there is a process that can take days, weeks, or months.
But you "have to move out" when you are stripped of your rights. Staying beyond that is an illegal act, which will result in your stuff being tossed out by police-types. How long that takes will vary, but you have no "right" to stay beyond the date the court grants all rights to the lien holder.
2007-02-04 02:24:18 · answer #1 · answered by CJKatl 4 · 0⤊ 0⤋
There is no one answer. The process varies by state so you need to check the documents you have received. Note that there is the possibility of delays where they reset the date for the auction. In some states a foreclosure is close to 21 days in total duration while in other states it will be more like 5 months. There could also also be a period for redemption after the auction where the lender or new owner might not attempt any eviction.
Check your documents. Consult a lawyer if you do not understand.
2007-02-04 05:39:50 · answer #2 · answered by Anonymous · 0⤊ 0⤋
30 days
2007-02-04 09:02:41 · answer #3 · answered by existingtobe 3 · 0⤊ 0⤋
Usually 60 days but sometimes 90.
2007-02-04 04:47:40 · answer #4 · answered by a17blossom 2 · 0⤊ 1⤋
I can't say how much time you have. If you do have the time, move out now and try to sell your house and avoid the forecloseure.
2007-02-04 05:51:23 · answer #5 · answered by Χαλαρά 7 · 0⤊ 0⤋
30 days usually unless there is an agreement
2007-02-04 04:29:10 · answer #6 · answered by Rocksteady 1 · 0⤊ 1⤋
it depends on what state your in..to be more precise what type of foreclosure it is...
2007-02-04 04:39:16 · answer #7 · answered by shawn 1 · 1⤊ 0⤋