Deed in lieu of foreclosure question?

Question:

I will be signing a deed in lieu of foreclosure as soon as the mortgage company's attorney sends it to me (they said it will be one to two weeks from now). How long, after signing, will I have until I have to be completely moved from my home and can I negotiate if they don't give me enough time? I couldn't plan to move before receiving this notice because that would have been considered abandonment. My realtor couldn't get the home to sell through a short sale. I need to know how much time I have from time of signing because I am a single Mom. No cracks about my stupid mistakes and la dee da. My son was in an accident a little over a year ago and my job was outsourced a few months ago. Sometimes bad things happen to good people. I just need the facts. Thanks!

Answer:
Why wasn't the Realtor able to do a short sale? His negotiations must be weak or he must be inexperienced. The only reason why a lender would turn down a short sale is because they think they can make more money by getting the property back.

Find an investor in your area to see if they can help you. Look for those signs or ads in the paper that say "We buy houses". The timeline might be short, but an experienced investor will be able to move in and negotiate a deal.

Anyway, to answer your question, every state is different with it's timeline and laws, but once you turn over the deed, the lender now owns the property and can evict you. Your notice of eviction should tell you how much time you have. If you post your city and state, I'll look up your timeline for you.

Good luck and take care.

Indiana is all over the place. It seems like in Indiana it's either 30 days or whatever your lease says. Ask these people:
http://www.in.gov/legislative/ic/code/ti...

be fore signing ask the lawyer ,and get it in print. so you know for sure how much time you have..don`t let them tell you
you signed, get out now..

Technically, the moment that you sign the deed the property belongs to the lender and you are supposed to be out. Your best bet would be to move out and then deliver the fully signed deed to the lender. You can try calling the lender's attorney and asking, but if they give you a time period then make sure you get it from them in writing.

Good luck!

Contact your local county sheriffs department

Deed in lieu of foreclosure question?

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