Sorry for your loss. However, you will soon be in a much better situation and on the road to wealth in a new home.
Each state has very specific laws regarding foreclosure.
Most foreclosures in Nevada are non-judicial, meaning outside of court.
My suggestion would be to start packing. However, there is no need to move in the middle of the night.
Typically, houses do not sell on the court house steps unless they are very close to actual amount owed. If you were completely upside down, then it will be assigned to a Realtor in your area by the bank. The Realtor will then knock on your door and ask to do a home inspection. Please, allow them in to the house. They will work with you to get cash for keys and assist with your moving expenses.
At this time, the Realtor will say that you need to be out in 1 week.
Ask for 3 weeks and agree to leave the home in good condition and not remove any of the fixtures or damage the property in any way.
At the end of the 3 weeks, the REaltor will return to do a final walk through and give you the check in exchange for your keys. It can be a stress free process. Keep your mind and family focused on improving your lfiestyle and not on being embarrased about losing your home. This is not only happening to you. AND at the end of 3 yeas when your credit is restored, you can buy a similar house for a fraction of the price.
The factors concerning the sale are at the whim of the investor who owns your loan. (that is not often the loan servicer who was collecting your mortgage payments.) If the price is still what you owed and not the current market value of the property, there's some chance that it will be delayed, or if it is sold, that the bank will end up buying it back. When the opening bid has been lowered to closer to market value than expect it will actually go to sale as scheduled and there is a good chance that it will be purchased by an investor.
In either case, if it's sold at auction, the new owner will contact you. For your own peace of mind, i would start packing and be prepared in finding a new home. That gives you some control over the next step rather than waiting for the knock on the door.
If a 3rd party buys your home at the auction, they will most likely be less accomidating, and really don't have to give you time to get out of what is now their property. Fortunately not all are that cold hearted., but do expect to be out in a few days, and don't expect any incentive to be offered.
So, while it is a good idea to get packing, there really is NO need to sneak out in the middle of the night. I do hope we caught you in time.
Best of luck to you.
Like many of the other answers suggest, be gracious when you move out. The new owner can hold you accountable for an overly damaged home. Start up your new life, start working on getting your credit back to a good situation (there are professionals that can help you with this), and soon enough you'll be back in a home of your own again. Sorry to hear about your loss, and good luck in the future.
If you've confirmed that the home did actually go to foreclosure, then pack and move. Leave the home in good condition, so as to have pride that you did not impact your neighbors home values by damaging the property on the way out. Do NOT hold the home ransom for cash for keys, which is never guaranteed in the first place, and should not be expected. Ethically and morally, you should move out, leave the home in good condition and find another home now. As for purchasing another home, focus on keeping your payments on other bills current, so that you can recover your credit score as quickly as possible, However with the current laws, a foreclosure will not allow you to obtain another mortgage for 7 years, not 3.
Again, I'm so sorry for your circumstances, as we all are. If you know anyone else who is having difficulty in paying their mortgage, please refer them to a certified distressed property expert, as many realtors are these days. There are programs that could possibly have helped avoid this foreclosure if you work with your lender ealry enough.
My webiste has some free reports that a homeowner can use to evaluate their options.
If it is sold to an investor, you will hear from the new owner almost immediately. If it is sold to the bank, it could take a while for a representative from the bank to contact you. The bank will hire an agent to list the property. Either way, one of these individuals will show up.
When they do, the stock answer is you have no where to move and you have no money to move with. They will then typically offer you cash for keys. Most scenarios involve more money for faster move-outs on an declining scale. In other words, if you agree to move in two weeks, they might offer you $3,000. If you agree to move in 60 days, they might offer $500. It's negotiable.
My advice is get it in writing.
Lyon Real Estate