My husband and I are in the process of losing our home. How long does it take before you actually have to?

Question

move out of the home?

Answer 1

If you have been served with a foreclosure notice, you may still have several months before you will actually have to move. I've left a link to information on the foreclosure process. Much will depend on the laws in your state. I hope you can get on your feet and that this won't have to happen to you. Try to negotiate with your lender.

Answer 2

There could be a resolution to your problem. Depending on how far behind you are in monthly notes...Has it already been forclosed on? If not, you can rent it out, first contact the mortgage company and try to get set up in a program that usually all mortgage companies offer to their homeowners when they get in financial trouble. Most people are not aware of this, but all mortgage companies have these programs. They don't want the house back. If, for instance you guys do not have any income coming in, at all, then this would not be a good program. But even if you both have some type of income, maybe a job at a fast food place, something, the mortgage company will try and work with you. Once you get in the program, and you guys decide you just can't handle the payments, contact a real estate company, let them know you need to rent out your home ASAP. Even if you offer someone the opportunity to move in without a credit check, but they must have a reasonable down payment, whatever, the mortgage company requires you come up with to get in the program and get back on the right track with them, you could request that amount from you potential renters. Of course, they must have a means of income, jobs, and you must be able to verify these jobs, usually the mortgage company will do all the background information for you, but you can let them know you're willing to be a little less lienient because of your current situation. That way, you could get people into the home faster, get your deposits, from the renter and get the ball rolling. I would contact mulitple real estate companies, let them know you have a house for rent and need immediate occupancy, you don't need to necessarily let them know what your problems are just insist that whoever brings you a good potential renter, that's who you will be working with. Don't commit yourself to anyone real estate company. That way, you've got more than one company working for you! You've got to use every option available to you and it can work. I have been in the same situation over 10 years ago and I was alone without a husband. I made it through. You guys can make it.

Email if you need more info.

Answer 3

I don't know what state you live in but here in WI the deed to the property is officially conveyed to the high bidder of the sheriff sale at what they call the confirmation of sale hearing. This is the final order signed off by the judge. This hearing is held appx three weeks after the sale and terminates ownership interest as well as your lease if you are a renter. Foreclosure procedures vary from state to state and your ownership interest can be wiped out in a matter of months or it can take over a year. You could call the law firm handling and ask when this could occur.

Answer 4

For some tips about foreclosure, see the link below. You don't have to lose your home at all, if you ask for a legal aid attorney. They can help you keep your home and restructure your debt.

The most important part of saving your home is to keep in touch with the lender and work out a satisfactory payment plan. Do not ignore them, work with them They do not want to take your home, all they want is their money. With their help, figure out how to do that.

Answer 5

Call 888-995-HELP. HUD approved this counseling service in light of this mortgage crisis. They may be able to help you.