Posted on: 29th Jan, 2011 01:11 am
I live in Illinois, the morgage company has said they are going to forclose on our house. So far we have not received any paper work at all saying anything about it, or any sale. How long does it usually take them to send out anything? Plus, how long till they have the sale? I want to know so I will know when I have to get out. Already have another place to live, just doing some work on it, don't want to get in the middle of work to have to hurry up and move.
Hi Aprildwn,
The lender will send you a foreclosure notice once you're more than 3 months late on your mortgage payments. It will take around 90 days to sell off the property at a foreclosure auction. After the foreclosure sale, you'll receive an eviction notice in order to move out of the property. This notice will mention the time period within which you'll have to leave the property.
Thanks,
Jerry
The lender will send you a foreclosure notice once you're more than 3 months late on your mortgage payments. It will take around 90 days to sell off the property at a foreclosure auction. After the foreclosure sale, you'll receive an eviction notice in order to move out of the property. This notice will mention the time period within which you'll have to leave the property.
Thanks,
Jerry