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need to stay in my home after foreclosure what is my options?

by faveljackie786 from Havre, Montana. Feb 4th 2015 Reply


Ray Antonelli (Focused)
#3 ranked lender in Ohio - 52 contributions

Mostly depends on who buys it after the sale and what their plans are for the home. If its the bank you will most likely be asked to leave. If it's an investor you may be able to pay rent.

Feb 4th 2015
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,797 contributions

If the home does not sell at the foreclosure sale, it will go back to the bank and they will evict you.. they will not allow you to say under any circumstances.. If the home sells at auction, then you can approach the new owner about renting it back.. in my experience, they most likely will not.. if you do not have the funds to keep your home from being foreclosed, you should be looking for a place to move to.. In AZ, you must be out within 30 days after the sale, and if your not, then the sheriff's office will physically remove you.. i'm sure it's similar in most other states, so you should be planning ahead.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Feb 4th 2015
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Michelle Curtis Loan Originator NMLS 401173 (EmbassyFundingLLC)
#29 ranked lender in New York - 2,236 contributions

You should speak with an attorney, but either way, if it is sold or goes back to the bank you will most likely be evicted.Sorry, good luck

Feb 4th 2015
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Dave Metsker (DaveMetsker)
#38 ranked lender in Oregon - 2,317 contributions

I some cases, if the lender gets the hose at the sale, they will rent it to you, just so it does not go vacant.

Feb 4th 2015
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Chris Neuswanger (mtnmortgageguy)
#94 ranked lender in Colorado - 84 contributions

You really need to speak with an attorney, if you can't afford one check with your County or City to find if there is a legal aid program that charges by the ability to pay. You can try and speak with the lender but admit it might be tough getting through to anyone who can help you and as they may or may not end up with the property after the sale they legitimately might not be able to offer any assurances. It varies by state but generally you have no legal right to stay in the house once it's been sold, but there may be a short grace period in your state.Be quite aware though that the sheriff can show up at your door and put you and your stuff out on the curb, so don't just wait assuming it will work out. In Colorado this can happen the day of the sale.

Feb 4th 2015
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Jericho Cherry (Jerichocherry)
#58 ranked lender in Virginia - 1,107 contributions

Check with a Lawyer in your area. Usually if the bank keeps the house you have to vacate.

Feb 4th 2015
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