Foreclosure in 85143>Question Details

Kristijust, Other/Just Looking in 85143

im in az and my auction date is march 19. when will i need to leave the property?

Asked by Kristijust, 85143 Tue Feb 21, 2012

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Hi Kristi,

I'm sorry to hear about your situation. The best advise I could give you is to check with both the lender and the trustee to confirm if you sale is taking place on the date they scheduled. There are many homes that get postponed for various reasons.

Confirm with the trustee on the 19th close to the end of the day to see if the home was actually sold and if it sold to a 3rd party or reverted back to the lender. It depends on who takes ownership on how they might proceed.

Either way, I would recommend that you prepare to move now and sit tight for a knock on the door once the home goes through the trustee sale.

Best Regards,

James Wehner
West USA Realty
480-323-5462
http://www.jameswehner.com
0 votes Thank Flag Link Tue Feb 21, 2012
ok thanks for the responses. we just decided would be in best interest to go before auction. looking at a place thurs. what happens as far as the keys go? do we leave them or just lock up and go?
0 votes Thank Flag Link Tue Feb 21, 2012
Here's the bottom line: if the lender forecloses (trustee's sale) on the 19th, you'll in effect be trespassing. If they postpone the foreclosure, then you'll still own the property. If you want to take the risk that they could foreclose on the 19th, and ultimately give you a 5-day demand to vacate, then do what you wish. If you do NOT want that kind of pressure, then move out before then. It's really not all that difficult - it just requires your making a decision. And if you're still not sure of your options, then consult with an attorney. Also, what does your Realtor advise you to do???
0 votes Thank Flag Link Tue Feb 21, 2012
wells fargo is the loan holder
0 votes Thank Flag Link Tue Feb 21, 2012
we had a realtor handle it all and even spoke to the bank ourselves. bank said they would not do a short sale due to our income. also wondering what happens when we do leave? do we just up and go, do we leave the keys somewhere. this is all so confusing not knowing anything.
0 votes Thank Flag Link Tue Feb 21, 2012
Did you ask the bank to do a foreclosure , or did you use a 3rd party like a realtor or lawyer to make your case?
Who is the lender?
0 votes Thank Flag Link Tue Feb 21, 2012
were not foreclosing because of finances, we tried short sale twice and bank denied both. my daughter has medical issues that is forcing us to move.
0 votes Thank Flag Link Tue Feb 21, 2012
After the auction occurs, assuming it is not postponed which happens frequently. You will received a notice to vacate nailed to your door. (they give you 5 days to vacate).

Have you explored a short sale with a qualified realtor and/or real estate attorney ? You may qualify for $3000 moving allowance if it is done quickly under HAFA. There may still be time if you done delay.

Loren Hoboy
623-688-0004
0 votes Thank Flag Link Tue Feb 21, 2012
Why would you do a short sale in a no-recourse state when the banks won't sign off on the short sale? I don't qualify under HAFA; I simply am not willing to continue to pay a $260K mortgage on an artificially inflated property that is worth $70K.
Flag Wed Apr 25, 2012
thank you we keep getting the run around from the bank and its getting old.
0 votes Thank Flag Link Tue Feb 21, 2012
By the 18th, unless you want to wait and see if anybody knocks on your door and offers you "cash for your keys!"
0 votes Thank Flag Link Tue Feb 21, 2012
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