Can we do this? House is going up for foreclosure on June 16th - we want to live in it til we are evicted...?
Question:
Anyways his mom is really cool, and said we could live in the house until we are evicted, the bank said it will take anywhere from 3-8 months, but on average takes 120 days..
Anyways.. the bank also said people will be coming by to check out the house and stuff, they will give us a 24 hour notice before anyone comes.. Do we need to be there?
Also, someone told me if they want to, they can seize the stuff in the house at any point? Is that true? I dont see why?
Thanks
1
Consult a realestate lawyer in your state regarding foreclosure and eviction.
Couldn't the parents have sold the house at a "fire sale" or pre-foreclosure sort of arrangement.
They are really messing up their credit ratings by doing this!
Very dangerous thing to do yourselves!
You can live in the house until it is sold if the bank and their real estate agent are ok with it... You don't have to be there when someone comes by to see it unless you want to be there, usually most people will be notified about an hour in advance before someone comes to see the house and they will leave before they get there. If they show up while you are there, you might want to step outside, it will make them and you feel more comfortable. And as for the stuff being seized, I am not sure. I'm guessing it can be seized if the house is bought and you guys still have your stuff in there and haven't gotten it out. Again, not sure about that last one.
Hope this helps!
Oh, and since the foreclosure is taking place on June 16, its a little late for a short sale..
My morgage co give me bunch of crap,so i said take it when do i have to be out and they said 2 years! so i said hell yea and took it, but on the bad side they sold it a few months early and i only got a 15 day notice to move.I would stay as long as i could but save your money an be ready to move when they sell the house b/c you will have to move when a new owner buys it,,,an no I dont see how they could take your stuff ,they will have to give you an eviction notice,but it will be a short one,just save your money and you should be ok ,by the time they want you out it could be 8 month or a year or more,it is a slow process AND I have personally been thruogh the same thing
You can definitely do this, although it will be at your own risk, due to the eviction proceedings. You'll be considered kind of a tenant, even though there's no lease in place. Verbal leases can be valid for up to a year, even though it doesn't sound like you'll be paying anything.
When the bank sends someone out to the house, find out if they are going to need to get inside the property. Sometimes, banks willl send someone out just to make sure the property is still occupied, or else they will declare it abandoned and change the locks in order to prevent anyone from getting inside and causing any damage. The bank may also want to do an appraisal or valuation of the property, to verify it is in good condition for when they foreclose on it and sell it on the open market.
There's no reason for anyone just to show up and remove everything from the property. It has to go through foreclosure first, then a sheriff sale, then the eviction process. Usually, the county sheriff will post a notice on the door with the eviction date, and on that date the sheriff will show up with the eviction crew to remove everything. Some random person from the lender or the county can't evict you without any legal basis, though.
Good luck.
ForeclosureFish
http://www.foreclosurefish.com/...
More Related Questions & Answers...