As a homeowner, if the bank takes the home back, you do not have the same 90 days...but will be offered a cash for keys settlement to move in 30 days...longer can be negotiated. Again,don't be surprised if receive a "Notice to Quit"on your door as they will continue the legal process until you have moved out.
Best of luck to you. ~ Allison
Plus it also depends on if the lender took the property back or if the property was sold to someone.
As a homeowner and the lender took the property back, it could be a few weeks or months until the property is assigned to a real estate broker/agent who will do a property inspection. At that time it is up to the lender to either offer a cash for keys or pursue eviction.
If the home was bought by an individual or investor at the trustee sale, you may have a notice on your door that afternoon. At that time it is in your best interest to negotiate a peaceful solution because time is not on your side. And don't expect a cash for keys from the new owner.
As a tenant and the lender took back the property, you may be able to stay in the home until they sell the home or they may offer re-location funds for you to move (a form of cash for keys because the cash for keys is only available for homeowners). Tenants fall into a special category when it comes to foreclosures.
Now if the home was bought by an investor or individual at the trustee sale, then your options are the same as if you were the owner still living in the home. Expect the new owner to file an Unlawful Detainer (UD) right away.
We have a No Cost program that might help.
If you are still in the home we can slow down the process of eviction. We call it Eviction Defense it gives us time to investigate what the lender and trustee has done.
We would need to see certain documents, if the Trustee didn't follow the rules we could reverse the trustee sale.
Then we investigate your loan, if we find any discrepancies we can get you a new loan at 95% of Current Market Value.
But Time is not on your side.
Have you received a Notice to Vacate?
Next will come a Unlawful Detainer.
Some one from the bank will contact you and offer Cash for keys so you will get out without trashing the house.
Our process is short the investigation is about two weeks then in a month after that you could have a new loan.
We will also Restore your credit for free giving you a fresh start.
If you can't afford the home after we get a settlement we would sale the home and split the profits with you.
Want more information
Hope this helps,
Rocky G.H. Hawrysz
Prudential California Realty
(209) 444-6610 Direct
(209) 433-2000 Fax
License No. 01468373