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bgintexas
Guest
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 Posted: Tue Jun 30, 2009 9:43 am Post subject: Forclosure Auction |
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How long do I have to move out after home is sold in foreclosure auction in Texas?
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 jenkin7
Joined: 04 Jun 2007
Posts: 3317
Location: Hawaii
492.11 Dollars($)
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| Posted: Tue Jun 30, 2009 11:37 pm Post subject: |
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Hi bgintexas,
How much time you will have to move out after the foreclosure, depends on your lender. Different lenders offer the borrowers different time frames within which they need to vacate the property after the foreclosure. Like other states, Texas gives you a right of redemption, a right to buy back the property from the highest bidder within a specific time. During this redemption period, the borrower is allowed to stay in the property. The redemption period generally lasts for 6 months. Thus, you will have some time to find a new place before you need to move out of the property. |
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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 7129
Location: bloomfield, ct
18.93 Dollars($)
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| Posted: Wed Jul 01, 2009 9:45 am Post subject: |
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bgintexas, you need to check your state laws as far as how quickly you'll have to move out. it's not up to a lender - they are regulated by the law. if it was their choice, they'd have you moving as soon as possible.
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George M. Akerley
Loan Consultant
860-221-5044 |
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