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
George Did not know someone was in the ouse could not tell, it could be a squatter or a homeless person for all I know.
wait...are you saying that the previous owner gave you no idea of who or what was in this house?
in south carolina, i can't pay my mortgage any more. i will retur to new york, but how long i have before they kick me out
Hi Claudia,
In South Carolina, the entire judicial foreclosure process generally takes a maximum of 150 days to be complete. The lender sends you a foreclosure notice and you need to respond to it within 30 days. You will not be allowed a redemption period if the lender waives his right to deficiency judgment. Otherwise, you will get a short time of 30 days to pay back your dues and redeem the property.
In South Carolina, the entire judicial foreclosure process generally takes a maximum of 150 days to be complete. The lender sends you a foreclosure notice and you need to respond to it within 30 days. You will not be allowed a redemption period if the lender waives his right to deficiency judgment. Otherwise, you will get a short time of 30 days to pay back your dues and redeem the property.
I am having trouble moving the remaining items in my home and today is my due date to vacate the house. Do I still have until the end of today or do I have the full 24 hours of today?
Hi COCAL,
If you are having trouble in moving the remaining items in your home, you can seek an extra day or two. In most of the cases, the lenders would be lenient enough to allow you that extra bit of time to vacate the property. However, you should not delay too much, else they can evict you out of the house.
If you are having trouble in moving the remaining items in your home, you can seek an extra day or two. In most of the cases, the lenders would be lenient enough to allow you that extra bit of time to vacate the property. However, you should not delay too much, else they can evict you out of the house.
my neighbor's home on Maui is being foreclosed and must be out of the house by the 5th. he is on social security disability and his daughter and grand children live with him. What are his options
my house sold on the 22nd of Feb how long do I have before i am evicted in Miami Florida
I just got served a 24 hr eviction does it include day served
Hi pjsmac,
The 24 hour period starts from the time you are served the eviction notice. Thus, I believe the 24 hr period includes the day the notice is served. Lets say, if you are served a notice at 10am on Thursday, you are expected to vacate the property within 24 hrs i.e. before 10am on Friday.
Hi sands,
Once the house is sold at the foreclosure auction, you are no longer the owner of the property. You will have to vacate the property within a certain period of time. You can also be served a notice of eviction asking you to leave the property within a certain period of time. Depending on your particular situation, the court may allow you a redemption period during which you can buy back the property if you can come up with the outstanding balance on the loan and the foreclosure costs.
The 24 hour period starts from the time you are served the eviction notice. Thus, I believe the 24 hr period includes the day the notice is served. Lets say, if you are served a notice at 10am on Thursday, you are expected to vacate the property within 24 hrs i.e. before 10am on Friday.
Hi sands,
Once the house is sold at the foreclosure auction, you are no longer the owner of the property. You will have to vacate the property within a certain period of time. You can also be served a notice of eviction asking you to leave the property within a certain period of time. Depending on your particular situation, the court may allow you a redemption period during which you can buy back the property if you can come up with the outstanding balance on the loan and the foreclosure costs.
To inquiring,
If your neighbor has defaulted on the mortgage, the lender will foreclose the house. Lender has the legal right to do so in order to recover the loan amount. To stop the foreclosure, your neighbor needs to get current on the loan. If there is enough equity in the property, he can sell the house and pay off the lien. In case there is not much of equity in the property, he can short sell or do a deed in lieu of foreclosure on the property.
If your neighbor has defaulted on the mortgage, the lender will foreclose the house. Lender has the legal right to do so in order to recover the loan amount. To stop the foreclosure, your neighbor needs to get current on the loan. If there is enough equity in the property, he can sell the house and pay off the lien. In case there is not much of equity in the property, he can short sell or do a deed in lieu of foreclosure on the property.
After you are served by the Sheriff to move out how long do you have? Is there anything you can file with the Clerk and Sheriff's office requesting additional days to pack and leave other than the customary 72 hours? Thanks
My house is going on the county court steps. March 15th, 11am. I have 2 questions: #1 if my bank buys back the house, can i work cash for keys? and how many days can i ask them for? #2 if a private investor buys my home, is it 24-72 hours to leave?
If you have 12 months without making any mortgage payments, How long until they evict you? :?:
To Claudia,
If you haven't made your mortgage payments for the last 12 months, your lender can foreclose your house any time. If they pursue a judicial foreclosure, it might take some time for them to evict you from the property. But if they go for a non-judicial foreclosure, it won't take long for them to make you vacate the property.
To Dave,
Lenders offer cash for keys deal primarily to renters. If you are the legal owner of the property, it is unlikely that your lender will offer you cash in exchange for vacating the property. Once the property is sold at the foreclosure auction, you will be served a notice specifying the number of days you will have to vacate the property.
If you haven't made your mortgage payments for the last 12 months, your lender can foreclose your house any time. If they pursue a judicial foreclosure, it might take some time for them to evict you from the property. But if they go for a non-judicial foreclosure, it won't take long for them to make you vacate the property.
To Dave,
Lenders offer cash for keys deal primarily to renters. If you are the legal owner of the property, it is unlikely that your lender will offer you cash in exchange for vacating the property. Once the property is sold at the foreclosure auction, you will be served a notice specifying the number of days you will have to vacate the property.