How Long Can I Live in My House After Foreclosure - Foreclosure Timeline Q&A

Foreclosure - How Long Can I Live in My House After Foreclosure - Foreclosure Timeline Q&A

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Once the foreclosure is under way, then you might be wondering how much time you have before it is over. The last event that signals the end of foreclosure is the trustee sale. Once this sale (also known as a sheriff's sale, auction, etc.) is over, then your house officially belongs to man else.

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Foreclosure

That man else could be two people. The first one would be the top bidder at the sale whom could be anything in the normal public. The second would be the bank, you see, when nobody bids on your house at the auction, then the house will go back to the bank who lent you the money on the house, development them the legal owners of the property.

Nonetheless, when this auction is over and the deed is recorded in the new owner's name, then the next step is to evict you from the house. Eviction timeframes vary depending on the state and sometimes the county you live in. They can be as short as 5 days and as long as 90 days all depending on state laws regarding the circumstances that brought on the eviction and either or not you dispute it. Even issues as small as disabled population living with you can play a role in how swiftly they can make you leave.

Please note that some states have redemption rights after the auction and evictions do not take place until after the redemption period has passed.

There are also laws about how your personal belongings are to be handled during an eviction process. Some landlords (or whoever is doing the evicting) are required to hold personal belongings left behind in safe storage for 30 days while other laws allow them to throw your stuff in the dump immediately. The best way to find out how long you can live in your house after foreclosure is over is to understand your local eviction laws. It is worth it to call the state agency that processes evictions in your area for more details.

Understanding how foreclosure works will allow you to reply some of those nagging questions like how long you can stay in your house, how to stop foreclosure, how to delay foreclosure, rights during foreclosure and more.

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