Foreclosure in 33029>Question Details

Aqua, Home Seller in 33029

New question...regarding foreclosure

Asked by Aqua, 33029 Tue Apr 22, 2008

When foreclosure happens, first how long before I receive my notice do I have before I have to leave. 2nd is I can take my appliances (ie refridgerator, stove, diswasher, etc.) and maybe one fixture I had installed? My husband feels that we can't.

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Your statement: "When foreclosure happens..." Many people have a misconception of what "foreclosure" is. First, you stop your payments at some time; 2nd, after 4 months, you get a "Letter of Default with intent to accelerate the loan". Shortly after the 4th month, the bank may COMMENCE the civil procedure required to foreclose; 3rd, after being served the foreclosure papers, you have 20 days to reply or ask for an extension. Most folks get an attorney to defend the suit. 4th, after several months with the new speedier court process, or years with the old court process, there will be a time when the bank's attorneys files for a default judgment and requests proceeding with the foreclosure and sale date of the property.

If you did not defend the suit, you can go to the broward county courthouse to review the file or go online to get an update of all the filings. Once you get a judgment with a request to get a sale date you should remove yourself and any personal property from the home.

I can help you do a short sale to extend the time and get you some money at closing.
0 votes Thank Flag Link Fri Nov 15, 2013
MY OPINION IS THAT NOT
PLEASE CONTACT ME FREE CONSULTA
0 votes Thank Flag Link Sat May 7, 2011
Aqua,

I feel bad for you, but, know this:
I am in the 3rd state for foreclosures and short sales, so I know how to do these.
I am a short sale foreclosure expert (by default!)
If you would like my help, email or call me for more info.
321-228-4663
PaulaBean@homeorlando.com
0 votes Thank Flag Link Tue Apr 22, 2008
Dear Aqua,

The time can vary as my colleagues have told you. However, this is in your best interest. You can work on saving or selling your property right up to the time of the auction. Have a conversation with a real estate attorney.

As for your appliances. I have seen in some mortgage agreements where they (the bank) has placed a claim on those items. Its my feeling you can take them unless your mortgage agreement documents specify otherwise.

-Karissa
0 votes Thank Flag Link Tue Apr 22, 2008
Foreclosure time can vary. If your home has been transfered to the bank you will probably be contacted by an agent listing the property. You most likely will be offered "cash for keys" to get you out of the house. I have been in many homes where the appliances have been removed.
0 votes Thank Flag Link Tue Apr 22, 2008
I have tried talking to the lender (Litton Loan Sv) til I am blue in the face regarding short sale. 1st they lost all the paperwork and until I got strong with my realtor she then called them and requested a supervisor and then finally paperwork arrived and they denied the offer but they won't give me how much they are willing to accept for the sale of the property and we did fax request as well and they have not contacted us. So by month end to next month we will start receiving paperwork of foreclosure proceeeding.
0 votes Thank Flag Link Tue Apr 22, 2008
Hi Aqua,

If you don't want to move from the house, I would file bankruptcy which will forestall the foreclosure and give you time to re-budget and stay in the home.

If you don't want to stay in the house, then you will be at the mercy of the lender. try doing a short sale first, don't do a deed in lieu and don't just rollover and play dead.
You have MANY options - it just depends on your situation and whether you want to stay in the house and fight or give up.

Let us know.....and we can help you more

Paula Bean
0 votes Thank Flag Link Tue Apr 22, 2008
Aqua:the length of a foreclosure typically takes around 5-6 months, however, when a property is put on in the market as a short sale, the lender may delay your leaving even more. Some lenders will respect the whole length of the listing agreement which may be 12 months for example.
Appliances are a very grey area. If you paid for them yourself you have a good case for taking them but its not so easy. If you bought the property with appliances, then you may have to leave them. Some are so mad at their lenders they don't even ask them and just take the appliances.That could be trouble.In a short sale, the appliances are listed or not on the MLS.You need a short sale. In a short sale ( pre-foreclosure)
I have seen the owners take the appliances. In your case it would depend on what you had when you bought the property in the first place. The fixture should be yours.
0 votes Thank Flag Link Tue Apr 22, 2008
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