Posted on: 12th Mar, 2007 01:33pm
If your home is sold through a foreclosure auction and the buyer gets full ownership to the property, there are chances that you may be evicted from the house. Read through the sections below to know about the various aspects of a foreclosure eviction.
Foreclosure eviction process - How long can you occupy the home?
The amount of time you can stay in the property after foreclosure varies from one state to another. It also depends on how long it takes to complete the foreclosure. Generally, the owner is first served with summons. At the hearing, if the owner is proved to be in default, the judge grants Summary Judgment and sets up a foreclosure auction. The court then issues a Certificate of Title to the new owner 10 days after the foreclosure sale. Once the new owner receives the Certificate of Title, he can start the eviction process and obtain an Order of Possession in about 2 weeks time. He can then serve you a 3-day Notice to Quit and have the Sheriff evict you from the property, unless you are entitled to a redemption period under the state laws.
Does the homeowner have a right to get back the property?
There are some states which offer a redemption period to the homeowners who wish to keep the property, but do not currently have the means to stop foreclosure. It gives them more time, during which they can buy back or redeem the property on payment of the mortgage dues plus the foreclosure costs. State laws regarding the redemption period vary. Some states provide lengthy redemption period (about 1 year), while others provide a short time period (approximately 6 months). However, a redemption period is allowed only in case of a judicial foreclosure.
Renter eviction after foreclosure - Is it possible?
In case you are renting a property and that property goes into foreclosure due to default by the owner, you do have certain rights. As long as you do not violate the terms of the lease agreement and you continue paying your rent, you cannot be asked to vacate the property until the lease term is over.
Certain states like Washington also have a Tenant Opportunity to Purchase Act (TOPA). Under this Act, if the owner is planning to sell the property, he has to offer the renter the right to purchase the property. Similarly in a foreclosure sale, if the lender purchases the property, he must provide the renter with a proper TOPA notice. However, if a third party buys the property, the renter is not entitled to a TOPA notice.
Under the Protecting Tenants at Foreclosure Act of 2009 (federal law foreclosure eviction), the purchaser of the property can ask the renter to leave the property if he intends to occupy the home as primary residence. But the new owner has to provide the tenant with at least a 90-day timeline to vacate the property.
Certain states like Washington also have a Tenant Opportunity to Purchase Act (TOPA). Under this Act, if the owner is planning to sell the property, he has to offer the renter the right to purchase the property. Similarly in a foreclosure sale, if the lender purchases the property, he must provide the renter with a proper TOPA notice. However, if a third party buys the property, the renter is not entitled to a TOPA notice.
Under the Protecting Tenants at Foreclosure Act of 2009 (federal law foreclosure eviction), the purchaser of the property can ask the renter to leave the property if he intends to occupy the home as primary residence. But the new owner has to provide the tenant with at least a 90-day timeline to vacate the property.
What is constructive eviction?
Tenants often ask "What is constructive eviction foreclosure?" Well, this is a situation where the owner might not formally ask the tenant to leave the property, but he can indirectly force the tenant to vacate the property (e.g. the owner turns off electricity, water or he changes locks, etc.). In such a situation the tenant can sue the owner on the basis that he was forced to leave the house through constructive eviction.
Related Readings
After the foreclosure sale on the 18th of March, how long will I have before I have to remove my possesions and vacate the property? The home is in Tampa, Florida.
Thank you.
Henry Murray
Thank you.
Henry Murray
the bank is going to foreclose on our hm, we have not paid mortgage in 1yr sickness and pay cuts were the reason. now, we are so far behind, when will we be forced out of our home? we live in wisconsin, :(
can they just take our hm while we are at work? an not give us our dog and our things?
Hi Guest,
You will receive a foreclosure notice from your lender and you will be informed about the scheduled date on which the property will be foreclosed. You can surely take your dog with you when your property is foreclosed. After that you will also receive an eviction notice from the lender which will mention the time period within which you will have to leave the property.
You will receive a foreclosure notice from your lender and you will be informed about the scheduled date on which the property will be foreclosed. You can surely take your dog with you when your property is foreclosed. After that you will also receive an eviction notice from the lender which will mention the time period within which you will have to leave the property.
I am 1 month behind on the payments. Trying to catch up. I have been told that I would be need to be 3 months late in order for them to take action. Is this true for a mobile home in the state of Kansas? They (finance company) are telling me that the laws are different for a mobile home owners compared to a reg. home that is on permanent land and they are taken action as of this week.
Hi tnbotb!
Welcome to forums!
Normally, lenders start off with the foreclosure process once you are more than 3 months delinquent on your mortgage payments. I haven't heard of any other laws in this regard. If you are unable to pay off the debts, you should immediately contact your lender and apply for loan modification.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
Normally, lenders start off with the foreclosure process once you are more than 3 months delinquent on your mortgage payments. I haven't heard of any other laws in this regard. If you are unable to pay off the debts, you should immediately contact your lender and apply for loan modification.
Feel free to ask if you've further queries.
Sussane
I live in Idaho, can you tell me the process and days i have to vacate my house. I just went to court for bankruptcy(which included my house). I stopped paying on my house in october
Hi meldpet,
I hope you will be surrendering the property while you're in bankruptcy. You can leave the property once you have surrendered it or else you can wait till you receive an eviction letter from the lender after the property is sold off in a foreclosure sale.
I hope you will be surrendering the property while you're in bankruptcy. You can leave the property once you have surrendered it or else you can wait till you receive an eviction letter from the lender after the property is sold off in a foreclosure sale.
My foreclosure date is February 10th at 10AM. Neither my mortgage lender nor my foreclosure bank (acting on their behalf) knows when I should I vacate. Even the town sherfiff does not know. I called the district court judge, they referred me to legal aid but they may take as long as seven days to give me an answer. I have called every entity I have been given. I do not know what to do at this point. Any assistance would be greatly appreciated! By the way I am disabled.
Sincerely, Karen
Sincerely, Karen
Neiher my bank nor my banks lawyer (nor the town sheriff can provide me with a move out date. Right now the foreclosure is set for Feb. 10 (even the bank had two different dates). I am scheduled fof Feb. 10. I have spent hours on the phone trying to obtain an answer as to when the last possible date is for me to move out. By the way, I am disabled and was denied a loan remodification.
I thank you in advance for your assistance.
Sincerely,
Mathilda9
I thank you in advance for your assistance.
Sincerely,
Mathilda9
Hi Mathilda,
You will receive an eviction letter from your lender after the foreclosure sale is complete. This eviction letter will mention the time period within which you will have to leave the property.
You will receive an eviction letter from your lender after the foreclosure sale is complete. This eviction letter will mention the time period within which you will have to leave the property.
how quick should i get a hearing after tenants answer complaint and ask for thirty more days
Hi chilton!
Welcome to forums!
This will depend upon you and your tenants. If you have an attorney, then you can contact the attorney and take his opinion in this matter.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
This will depend upon you and your tenants. If you have an attorney, then you can contact the attorney and take his opinion in this matter.
Feel free to ask if you've further queries.
Sussane
IS THERE A LEGAL RIGHT FROM A REALTOR TO INFORCE A 72 HOUR NOTICE TO VACATE IN AZ WITHOUT GOING TO COURT? DOES AZ EVEN HAVE A 72 HOUR NOTICE?
Hi TONY,
If the lender/realtor wants to evict you from the property, he/she will have to go to the court and get a judgment against you. Unless, he/she gets a judgment against you, it won't be possible to evict you from the property.
Thanks
If the lender/realtor wants to evict you from the property, he/she will have to go to the court and get a judgment against you. Unless, he/she gets a judgment against you, it won't be possible to evict you from the property.
Thanks
My daughter in Iowa had partially moved preparatory to the 1/20/12 end of a redemption period but was NEVER given a notice or date to vacate. Upon arriving home 1/30/12 from an out of state visit she found her locks had been drilled/changed and all remaining property removed--Still With No Notice!. Shouldn't SOME notice have come from Freddie MAC, Freddie's attorney, or the realty company that would be getting the listing?? It is my under-standing that the realtor involved ordered the locks drilled and contents removed, but I don't know on whose direction or authority. Thanks.