If your mortgage servicer (Bank) foreclosed on the house you are living in, a Realtor will knock on your door and offer you whats known as a "Cash for Keys" incentive. Which means they will offer you a certain amount (amount varies from bank to bank) of money and a time period for you to move. If you decide not to accept the cash for keys, the bank will begin the eviction process. How much time you have to move, trully depends on how much time the bank is willing to give you.
If the house has not been through the foreclosure process, contact your bank immediately (1-800 number should be on mortgage statement) and talk to them about possibly doing a loan modification or other options. They can also postpone the auction date. Dont be scared to call them!
Indalecio "Andy" Del Real III
When you received your foreclosure notice it contains contact information for the bank's attorney. You can contact them directly to see if your home actually went to auction and when.
I hope this helps!
Keep in mind, you would need to pay off the full loan balance, back owed monies, penalties, legal fees, and anything else the bank is legally allowed to tack in.
After you add all those things up it's very likely you'd be paying the bank tens of thousands more than the place is worth.
As far as time the Sheriff in Cook County who does evictions is backed up 4 months from the day the bank gets an order of possession from a judge so you likely have at least that long from the day the auction went down.
If you'd like a complimentary evaluation of your situation from a true expert let me know- you have options!
There is an informal rule-I call it the lawyer to lawyer coop agreement. A judge almost always allows one of his own; additional time to look over a case. Most times this would be 30 days. This will buy you time to make other decisions--but that is only if you have the money to employ a lawyer. If not, there are things you can do or people you can call to help. Just remember never ever pay anyone an upfront fee. Pay for only success--that is the law in this state. Again you maybe able to save that house--it will take time, effort and many times some money. But it can be done. Good luck. Drop me a line--so that I will know of your progress.
Assuming that your home was actually sold, here's the deal. Probably within 30 days a real estate agent will knock on your door or leave a note to let you know that you have a option to give them the keys to the property (which means that you have to move out) and receive cash as an incentive "cash for keys". You are given a couple weeks to make a decision. If you decide not to exercise that option, then the eviction process will begin. The courts are a little backlogged so it may take them a couple a few months to start the process. Once you've been served and given a court date, then at that point you may want to get an atty who can walk you through the process and delay the date of eviction (some attys are pretty savvy at doing this). You are going to have to pay the atty, but it may be worth it to you - if you need more time in the house. Call David Kelly @ 773.593.1143 and tell him Dona sent you!
This is from Foreclosure.com
The spcific dates of your notices are court dates are vitally important. Consulting with an attorney is in your best interest.
Americorp Real Estate
Brokers Associate, e-PRO