Roberto Mede…, Home Owner in Nampa, ID

My house is going for auction this coming Monday,how much time do I have to move out?

Asked by Roberto Medeiros, Nampa, ID Thu Jun 14, 2012

Will I have some kind of notice?

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Sharon Walker, Agent, Boise, ID
Thu Jun 14, 2012

Once your home goes to auction, it will either go back to the bank or someone will buy it at auction. If it goes back to the bank, you will be notified by someone that has bank authorization that you have to vacate the property. Depending on circumstances, you may even receive a monetary incentive to move. You will have some type of notice to vacate but if I were you and I knew this was happening, I would be preparing myself and my home by doing packing and getting ready so that you are not under additional stress when you do get notice. I cannot give you any idea of what time limit you will have.
If a private party purchases the home at auction, you will be receiving notice from them also about vacating the premises. If you have questions as to what your legal rights are, I would either talk to an attorney or see what information you can find out through state offices that deal with rights of property owners.
It is sad to have this happen. Most homeowners are unaware that if they are getting behind on their payments that their best option is to put their home up for sale and work with the bank in getting the home sold. This is the best way to alleviate the debt and have the least amount of damage to your credit. If you know people who are in your situation, please relay the information on that they should call a licensed real estate agent to discuss their options.
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Jim Paulson, Agent, Boise, ID
Fri Jun 15, 2012

This is a very common problem but there is still no consistent answer. It depend on a lot of factors but the laws have changed recently that help tenants in your situation. It used to be that if if the owner's loan was dated prior to your lease, you no longer had the right to live there as soon as they lost the home. Now, it depends.

I suggest you read the "Helping Families Save Their Home Act" which was enacted into law on May 20, 2009. Here is a link to it for your reading pleasure:…

Most people have never heard of this act, let alone tried to figure out how to implement it. Therefore, expect different answers from different people until this housing mess gets back to "normal". I tell people that normal is the average of the extremes (so expect variances).

Another thing to keep in mind is that your agreement with your landlord is a totally separate agreement than their agreement with their bank to buy them home. Too often I hear of tenants that quit paying rent because their "landlord" quit making there payments. The landlord can still possibly go after you for rent/damages even if they loose their home to foreclosure in many cases.

I highly encourage you to talk to an attorney for a "legal opinion" rather than just an "opinion" from someone like me. (grin) In many cases, the first consultation is free.

Best of luck!
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