is there anyway to stay in home after foreclosure?

Asked by Tatoochick, Independence, MO Tue Mar 1, 2011

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6
Donna DeSino, Agent, Walnut Creek, CA
Fri Mar 4, 2011
Unfortunately you need to move on-that is why doing a short sale is a better option for many people, you can stay in the property while it is in negotiations with the bank. That gives most people some options in regards to moving on. Please feel to contact me with any questions regarding a short-sale- I would be happy to help!

Donna - 925-408-4811
0 votes
Kamal Randha…, Agent, El Sobrante, CA
Wed Mar 2, 2011
Chances are very slim to stay in a home after foreclosure.

You should consider a short sale as you get to stay in the home while the bank works on the short sale which can take up to months. Also, with a short sale on your record, you can buy a home again in 2 years vs. 7-10 years after a foreclosure. Feel free to call or email me if you need further assistance. Good luck.
0 votes
Amy Piggee, Agent, Woodbury, MN
Wed Mar 2, 2011
Once a sheriff's sale has occurred, you have six months right of redemption in which you are able to live in the property with the hopes of either paying the balance or getting the home sold. Once that time has lapsed, the bank will change the locks and you have no rights to the property. If you are not going to exercise your right of redemption, be sure to be out before the time has lapsed. You may not get the opportunity to obtain your personal property thereafter.
0 votes
Phil Rotondo, Agent, Melbourne, FL
Wed Mar 2, 2011
Legally no. I know time passes by quickly and it's not the best of times; but it's time to move on.
Web Reference:  http://www.321property.com
0 votes
Carla Berrier, Agent, Archdale, NC
Wed Mar 2, 2011
I think the answer to this questions is a resounding NO. Banks typically come in and change the locks, the house after foreclosure is owned by the bank and they typically put it on the market. The house will be sold as soon as possible. So, you would be trespassing on this property after the house has gone through the foreclosure process.
0 votes
Carolyn Zeig…, , Danville, CA
Tue Mar 1, 2011
Hi Tatoochick,
The majority of banks will come to the door on the day of the foreclosure in California and change the locks on the door so you are locked out of your home with all of your belongings locked inside. My recommendation is to move out a couple days before the foreclosure to avoid the embarassment of the sheriff coming to your door.

Good Luck!

Carolyn Zeigler, CRS, CDPE
Re/Max Accord
email: ZRealEstateLady@pacbell.net
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