If my condo is auctioned off in foreclosure how long do I have to find a new place live and move?
Question:
Answer:
Where I live you must be out as soon as the auctioneer says "sold". Laws vary by state.
where is it at.... i might want to buy it?
More information is needed to give an acurate answer.
Did you receive a letter from the court with a sale date?
Once it's final, the bank becomes your landlord and you become their tenant. You can expect a 30 day notice to quit very shortly thereafter.
More details are needed. You will probably have to move BEFORE the auction. As soon as the foreclosure is final, you are no longer the owner and WILL be evicted. The actual sale usually takes longer.
It would depend on what kind of foreclosure the lender is pursuing in Massachusetts. If it's a Judicial foreclosure, the lender has to sue you and prove in court that you are in default of the loan and request that the property be sold at sheriff sale. A Non-Judicial foreclosure means that your original loan documents allow the bank to sell the house if you go into default, without the benefit of a court hearing. So you might want to look back at your loan documents and look for a "Power of Sale" clause, or something similar. Here's how the foreclosure process usually works in Massachusetts, though.
Massachusetts allows both the Non-Judicial and Judicial Foreclosure processes. If the original loan documents do not contain a “power of sale” clause, then the Judicial Foreclosure process must be followed. This process requires the lender to sue the borrower to obtain a court order to foreclose. Then the lender must take possession of the property peaceably with the proper consent of the borrower. If the lender holds possession of the property for three years, then the redemption period of the borrower has expired.
Non-Judicial Foreclosure is used when the original loan documents contain a “power of sale” clause, authorizing the lender to sell the property in the event of a default. The notice of sale must be sent to the borrower by registered mail at least thirty (30) days before the scheduled sale date. For three (3) consecutive weeks, the notice must be published in a magazine that is generally circulated in the county in which the property is located. The publication of the notice must begin at least twenty-one (21) days before the sale date.
The sale of the property is conducted as a public auction at the place and date specified in the notice of sale.
The borrower does not have a right to redeem the property if the Non-Judicial Foreclosure process is used.
If you're worried about being kicked out soon, call the county sheriff and ask if the house is scheduled to be evicted any time soon. They'll be the ones to conduct the eviction, so they can tell you when they'll be there to kick you out.
Good luck.
ForeclosureFish
http://www.foreclosurefish.com/...
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