Posted on: 07th Sep, 2009 10:42 am
we just got our notice for the mortage company to lift the automatic stay how much longer are we still in the house we have wells fargo they refused to give a loan modification. We just found a nice house to rent so we can keep our dogs but when do we move
Welcome Bromranch,
Once the court lifts the automatic stay, the lender can start off the foreclosure process immediately. Once the foreclosure sale is complete, you'll get a 3 day notice period to leave the property. You'll have to leave the property within that span of time.
Once the court lifts the automatic stay, the lender can start off the foreclosure process immediately. Once the foreclosure sale is complete, you'll get a 3 day notice period to leave the property. You'll have to leave the property within that span of time.
But how long does it take them to foreclose, I need to know when I should move out, someone told me I could be in the house for a year because its a farm but I have a sick son so I need time to move but my lawyer said to stay in the till the notice because I have to care for the house till they take it so how long is that
Hi dee,
It may take quite some time for the lender to foreclose the property. However, if you wish, you can surrender the property to the lender and rent out the new home. It's not mandatory for you to stay in that property until the foreclosure is complete.
It may take quite some time for the lender to foreclose the property. However, if you wish, you can surrender the property to the lender and rent out the new home. It's not mandatory for you to stay in that property until the foreclosure is complete.