How long can you stay in a house that has been foreclosed? Do you have to move out wihin a certain time?

Asked by Susie, Washington, DC Mon Sep 8, 2008

period of days, weeks, months?

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Mark Meyerdi…, Agent, Washington, DC
Wed Sep 23, 2009
Susie,
I don't know if there is a single answer to your question however in most cases today, the banks are giving incentives for occupants of foreclosed homes to move out so that they can prepare the property for market. They call this process cash-for-keys. In our area, an offer of $1500 for a 2 week move out is common but that can vary depending on the value of the house and the degree of cooperation from the occupant.

Regards,
Mark Meyerdirk
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Michael Stro…, Agent, Washington, DC
Mon Sep 8, 2008
Each Bank will have their own rules governing these situations. But do you really want to be there when the sheriff shows up?
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Jeff and Gin…, Agent, Vero Beach, FL
Mon Sep 8, 2008
The time varies, but you can stay until you are notified that you must move out. Is the bank just starting the foreclosure process, or does the bank already own the property? Do you own the property or are you renting?
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