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When you get a foreclosure letter from the attorney how long does it take before you have to leav the house

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vadamec Joined: 18 Nov 2010 Posts: 1 1.00 Dollars($)	Posted: Thu Nov 18, 2010 9:51 pm    Post subject: When you get a foreclosure letter from the attorney how long Like 0 Dislike 0 My motherinlaw at 83 was approved a mortgage on her home in 2006. She only had 1100 monthly social security in 30,000 in stocks that were margined but Wachovia gave her a $140,000 mortgage on her house in Florida. She got sick need her social security for medicine and her stocks have no value. She's being foreclosed and we keep writing letters asked how she qualified for a mortgage in the first place. her financial advisor was also with Wachovia. She got a official letter to foreclose - how long does she have to stay in her house and what can we do - Wachovia was wrong to give her a mortgage
jerry Moderator Joined: 17 Oct 2005 Posts: 2708 Location: MICHIGAN 429.63 Dollars($)	Posted: Fri Nov 19, 2010 2:51 am    Post subject: Like 0 Dislike 0 Hi vadamec, Unless the foreclosure auction takes place, your mother-in-law will be able to stay in the property. After the property is sold off, she will receive an eviction notice from the lender. The time period to leave the property will be mentioned in the deed. She will have to leave the property within that time period. Thanks, Jerry

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