Foreclosure in Orlando>Question Details

M R, Home Buyer in Orlando, FL


Asked by M R, Orlando, FL Sun Oct 24, 2010

The Foreclosure sale date is in 3 days per the letters I got in the mail and per the clerk of courts public record web site. What exactly happens the day of the foreclosure sale date and after that date???

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You may want to talk to your bank or seek counsel as I'm certain the locks will be changed as soon as the sale happens.
2 votes Thank Flag Link Sun Oct 24, 2010
A realtor will show up, and most likely offer to give you cash to move out. The sooner you move out, the more cash you will receive, if this bank offers this.
1 vote Thank Flag Link Mon Oct 25, 2010
are you a renter or the owner ? If you are renting then you may be able to stay if you have a lease. It is a complicated situation depending on if you are the past owner or a renter.

please contact me directly if you need further help. I am an REO broker and I do know the banks preferred options in thsi situation
1 vote Thank Flag Link Sun Oct 24, 2010
it may take the bank a few days or even weeks to contact you after the sale but it is best to make arrangements for alternative accommodation as it will not be long before you are asked to leave
1 vote Thank Flag Link Sun Oct 24, 2010
I suggest you go to the court house the day of the sale and make a plea with the Judge if you are the owner or if you are a tenant and you have a lease. If the sale goes through the locks will be changed and I would advise you to make arrangements to find a new home.

Good luck and don't give up!

Katie Mazloom
Metro Brokers Fl Realty, LLC
0 votes Thank Flag Link Sun Oct 24, 2010
Ten days after the courthouse auction the new owner (or the bank that foreclosed) will get a "Certificate of Title". You may be able to object to the sale during this 10 day time period because of all of the fraudulent "robo signing" that has been discovered. Especially if the "servicer" is one of the well known offending lenders, Bank of America, JP Morgan Chase, GMAC/now ALLY and others.

You may want to object to the sale if you're the owner and have a true hardship and then immediately attempt to get a Short Sale via the HAFA program. If your lender participates and you qualify, you can get $3,000 in relocation "incentive". It's certainly worth a try.

If you're a renter and want to stay, you should be able to as long as your lease is in writing and you are paying "market" rental rates.
0 votes Thank Flag Link Sun Oct 24, 2010

Best to start moving!

Need more information, are you a tenant or owner/occupier?

Couldn't you short sale the property?

As a side Bank of America feels confidant and as is moving ahead with a large portion of the properties they froze a few weeks back.

Dave Lowe, broker
GRI, ePRO, Realtor

Community and Family Values
Web Reference:
0 votes Thank Flag Link Sun Oct 24, 2010
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