do we have to vacate the premises?
WE LOOKING FOR A HOUSE TO BUY IN YOUR AREA IS YOUR HOME STILL UP FOR SALE?
Cheryl is absolutely right. The only thing I can add is that bankruptcy could be an option in many cases,
not knowing about your special situation.
Good luck whatever happens!
Peter
Terry,
Sorry about your situation. Soon you will find that renting is easy, stress free, maintenance free, and much cheaper than owning.
Nervous is correct. If it becomes REO, they will work to evict you, however,most prefer to work with you in cooperation. Sometimes there is a cash for keys program whereby they pay you $1000 or so to leave the property promptly. I am not sure how long you would have if the property was sold at auction...you can call the sheriff's office to find out. That number should be on the foreclosure papers you received. In any event, it would most likely be less than 30 days.
If no one bids, the house goes to the Bank and it will be come a REO. You probably have less than 30 days and thats if you force the bank to formally evict you.
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