When your home is foreclosed how long do you have to vacate the premises?

Question

This is in Texas, and there is no mental challenge, etc. Just a regular foreclosure.

Answer 1

You have until the certificate of title is issued, usually about a week after the foreclosure sale.

Bankruptcy cannot stop a foreclosure. Your house is a secured asset and not dischargeable in bankruptcy. All you can do is delay foreclosure, and increase the amount you will owe when foreclosed. Interest keeps accumulating during bankruptcy.

Answer 2

In theory that's negotiable. But once the foreclosure goes through the lender will become your landlord and will probably make a demand for rent. You should probably expect a 30 day notice to quit at that point as well. If you fail to pay the rent, expect a 3 day notice to pay or quit, followed by formal eviction proceedings.

If you do pay the rent but fail to vacate within 30 days, expect formal eviction proceedings.

In TX, an eviction for non-payment of rent or holding over will usually take 30 - 45 days from the 3 day notice to the sheriff putting you on the street.

Answer 3

Why give up to forclosure. If you have to file for bankruptcy. That way your payments will be lower and you will not loose what you have worked so hard to get. It gives you the opportunity to get your bills together and get back on track. You will have to pay a percentage of what bills you have. Not the full payment.I'd rather do this than have forclosure on my credit for the next 10 years. Yes bankruptcy will be on there for 10 years, but you will still have your house and cars and possessions. Good Luck.