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our home is beig foreclosed on on June 16 and going back to the lender

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sjustice32 Joined: 16 May 2011 Posts: 1 1.38 Dollars($)	Posted: Mon May 16, 2011 2:34 pm    Post subject: our home is beig foreclosed on on June 16 and going back to Like 0 Dislike 0 we are being foreclosed on by our lender and have found an apartment that we were planning on moving into on June 1, 2011. However we just received a call that the apartment will not be ready for us until June 20, 2011. The foreclosure is set for June 16th, 2011. There will be no redemption sale and the house is going back to the lender.We live in the state of Iowa and are wondering if when we will have to be out of the house on the 16th of June or if we are okay with the 20th?
chrisgummerson Community Expert Joined: 29 Apr 2010 Posts: 704 Location: La Palma, CA 9.98 Dollars($)	Posted: Mon May 16, 2011 2:40 pm    Post subject: Like 0 Dislike 0 Once the home either sells, or goes back to the bank, you will be notified of the sale, and the new owner will give you a 3 or 5 day notice to quit. Once the period has elapsed, the new owner would have to file for a Unlawful Detainer, or eviction. This can buy more time. If you are looking to get out 4 days from sale, just explain to the owner, bank that you will leave the home in good shape along with the keys, for a several day extension to relocate without a UD action. _________________ Chris Gummerson Bay Valley Mortgage Group bayvalleymortgage.com 714-367-5125
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Mon May 16, 2011 9:13 pm    Post subject: Like 0 Dislike 0 Hi sjustice! Welcome to forums! After the property is foreclosed by the lender, you will receive an eviction notice from him which will mention the time period to leave the property. If you want to stay in the property till 20th June, you should let the lender and the new owner of the property know about it and I hope they will consider your case. Feel free to ask if you've further queries. Sussane
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12376 Location: bloomfield, ct 58.49 Dollars($)	Posted: Tue May 17, 2011 7:16 am    Post subject: Like 0 Dislike 0 Letting them know that you would like to stay for a few extra days isn't likely to bring about any beneficent feelings, but I suppose it might not hurt. You ought to familiarize yourselves with the laws of the state of Iowa so that you can find out precisely when it is that you'll be required to vacate. I'd have to assume, without knowing the law, that it'd be pretty quick after the action, but you may well have a specified period post-foreclosure that's allowed by statute. Call your Attorney General's office to see if they can't provide you with this information. I'd have to say they're bound to more reliable than anonymous folk from around the country. _________________ George M. Akerley Mortgage Underwriter/Consultant Word of Excellence- Writing/Editing/Proofreading 860-221-5044

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