Posted on: 04th Oct, 2009 04:02 pm
We just got a notice to pay or they will foreclouse on our house we have wells fargo and we live in Illinois odeso anyone know how long it takes them to kick you out. I would like to be gone before they send the sheriff
If this is yoru first notice I would say any where between 3 -4months time
You will need to move before the auction/ sheriff sale
So you can wait for oen mroe letter tellign you that the house will auction on which date
Also some lenders pay you for keys/move out, so you do nto harm the property
You will need to move before the auction/ sheriff sale
So you can wait for oen mroe letter tellign you that the house will auction on which date
Also some lenders pay you for keys/move out, so you do nto harm the property
Hi Bromranch!
Welcome to forums!
It would be a better idea to contact the lender and check out if you can sell off the property before he forecloses the property. You can apply for a deed in lieu of foreclosure. In this process, you would be able to surrender the property to the lender. The lender, on the other hand, would sell it off and recover the dues. Unlike foreclosure, you won't be liable for paying the deficient amount to the lender. However, the credit effects would be the same. Your credit score would get lowered by 250 points and it would stay on your credit report for 7 years.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
It would be a better idea to contact the lender and check out if you can sell off the property before he forecloses the property. You can apply for a deed in lieu of foreclosure. In this process, you would be able to surrender the property to the lender. The lender, on the other hand, would sell it off and recover the dues. Unlike foreclosure, you won't be liable for paying the deficient amount to the lender. However, the credit effects would be the same. Your credit score would get lowered by 250 points and it would stay on your credit report for 7 years.
Feel free to ask if you've further queries.
Sussane
bromranch, you seem eager to leave. you don't have to leave until they give you specific notice. they'll give you a move-by date, i'm sure. if you wanted to leave earlier, that's your prerogative, of course.
Wait for the move notice. probably that will tell you when the sheriff sale is or the quction will be.
You have enough time as of now
You have enough time as of now