Foreclosure in 91360>Question Details

Marlene, Other/Just Looking in 91360

how long wll a home be in foreclosure before you have to move out?

Asked by Marlene, 91360 Tue Aug 11, 2009

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Richelle Briasco’s answer
You will need to move out when the Sheriff puts a notice on your door to vacate the property. Why is the house in foreclosure? You can do a short sale and it would be more advantageous to your credit. It is more advantageous in 2009 and 2010 because Obama passed legislation to help people losing their homes. I would be happy to explain all the details. I can help you, just give me a call.
Richelle Briasco
RE/MAX Estates
0 votes Thank Flag Link Fri Aug 28, 2009
In michigan you have 6months redemtion after sheriff sale if home is on less than 3 acres if more than 3 acres you have 1 year
0 votes Thank Flag Link Tue Aug 11, 2009
Hi Marlene, I noticed that most answers seemed to assume that you are in foreclosure. I suppose you could be because you said "you" but I get this question a lot from people who contact me through RealtyTrac. They want to know how long a home is going to be occupied before those homeowners/borrowers are going to be asked to move out because they want to purchase the home. Kind of a different twist but they are watching the foreclosure activity on RealtyTrac and waiting.

Lots of homes go through all of the procedures you see below but in addition to those time frames I have seen where homes are vacant for extended periods of time because the bank is no longer in business or doesnt have the manpower to get out and get the borrower out of the home. Other times even if the borrower/homeowner has already moved they left property behind that must be evicted. So, it's really anyones guess whent someone will actually have to move out. Some homes are bought at the foreclosure proceeding by an investor who has a very big stake and they move faster and usually try to negotiate as some banks do and offer cash for the keys...and home left in good condition.

I'm not sure your situation. If you are in foreclosure yourself, I am sorry for your trouble. If you are waiting on a foreclosure, be sure you are looking at all of your options, all of the homes that might meet your criteria. You never know which home is going to come available and what the value of that home will be to you.
Web Reference:
0 votes Thank Flag Link Tue Aug 18, 2009
Typing an answer wold have taken too long. I recorded my response on my You Tube Channel:
Web Reference:
0 votes Thank Flag Link Tue Aug 18, 2009
Hi Marlene,
This is an excellent question, one that can have a variety of answers, depending on YOUR goals and preferences.
1) If you make one payment every other month, I understand the Bank can never foreclose.
2) If you are in the process of completing a loan modification, the lender(s) will postpone any sale date, as well
3) In California, you have 3 months and 21 days AFTER the Notice of Default is filed before the property forecloses. Then, you usually have another month to move out!
4) If you list your home for sale as a "short sale" you can sometimes stay in the property for, say, 9 months, one year, or I've seen even longer!! Short Sales take a very long time to get approved with the Seller's Bank(s).
5) You should definitely consider a loan modification and/or a short sale, which is a lot better for your credit than a foreclosure. It does not matter how much you owe to do either one.

Good luck in resolving your problem. I work with sellers all the time, assisting them in reaching their goals.
0 votes Thank Flag Link Tue Aug 11, 2009
The "general" time line for a foreclosure process is 120 days, or 4 months:
1. from the date the homeowner received the Notice of Default (NOD);
2. then at the end of the 90-days, the homeowner will receive a Notice of Trustee Sale (NOTS);
3. then in about 30 days, the property goes to auction.

The banks want to work with homeowners to keep them in their homes. Therefore, in certain cases, it may takes "longer" than 4 months, especially if a lawyer is involved where he/she can help to stop/slowdown the foreclosure process to negotiate with the bank.

Please refer to here for additional info. on how to "avoid" foreclosure:…

I hope the information helps.

Phone: (888) 525-0125
0 votes Thank Flag Link Tue Aug 11, 2009
The process is quicker in california. The (NOD)Notice of default is filed and then there is a publication of sale and then a sale. I believe form nod to sale in less than 120 days. Then there will be an eviction which should be completed in no more than 60 days an most likely less.

Check and they provide timelines for all states.

Keith Manson
First Weber Group
Certifeid Distressed Property Expert
Greenfield, Wisconsin
0 votes Thank Flag Link Tue Aug 11, 2009
Your will first receive a Lis Pende. That means that you are behind in payments and foreclosure preceeding have started. When you get a final summary of judgment and sale date then you need to move out prior to the sale date. You can always hire a good realtor who knows how to do a short sale and stay in the home and let the realtor negotiate the short sale until closing.
0 votes Thank Flag Link Tue Aug 11, 2009
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