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Foreclosure eviction - When do you have to move out?

Author: Jessica Bennet
Community Mentor
Ask Jessica
Posted on: 12th Mar, 2007 01:33pm
If your home is sold through a foreclosure auction and the buyer gets full ownership to the property, there are chances that you may be evicted from the house. Read through the sections below to know about the various aspects of a foreclosure eviction.

Foreclosure eviction process - How long can you occupy the home?


The amount of time you can stay in the property after foreclosure varies from one state to another. It also depends on how long it takes to complete the foreclosure. Generally, the owner is first served with summons. At the hearing, if the owner is proved to be in default, the judge grants Summary Judgment and sets up a foreclosure auction. The court then issues a Certificate of Title to the new owner 10 days after the foreclosure sale. Once the new owner receives the Certificate of Title, he can start the eviction process and obtain an Order of Possession in about 2 weeks time. He can then serve you a 3-day Notice to Quit and have the Sheriff evict you from the property, unless you are entitled to a redemption period under the state laws.

Does the homeowner have a right to get back the property?


There are some states which offer a redemption period to the homeowners who wish to keep the property, but do not currently have the means to stop foreclosure. It gives them more time, during which they can buy back or redeem the property on payment of the mortgage dues plus the foreclosure costs. State laws regarding the redemption period vary. Some states provide lengthy redemption period (about 1 year), while others provide a short time period (approximately 6 months). However, a redemption period is allowed only in case of a judicial foreclosure.

Renter eviction after foreclosure - Is it possible?


In case you are renting a property and that property goes into foreclosure due to default by the owner, you do have certain rights. As long as you do not violate the terms of the lease agreement and you continue paying your rent, you cannot be asked to vacate the property until the lease term is over.

Certain states like Washington also have a Tenant Opportunity to Purchase Act (TOPA). Under this Act, if the owner is planning to sell the property, he has to offer the renter the right to purchase the property. Similarly in a foreclosure sale, if the lender purchases the property, he must provide the renter with a proper TOPA notice. However, if a third party buys the property, the renter is not entitled to a TOPA notice.

Under the Protecting Tenants at Foreclosure Act of 2009 (federal law foreclosure eviction), the purchaser of the property can ask the renter to leave the property if he intends to occupy the home as primary residence. But the new owner has to provide the tenant with at least a 90-day timeline to vacate the property.

What is constructive eviction?


Tenants often ask "What is constructive eviction foreclosure?" Well, this is a situation where the owner might not formally ask the tenant to leave the property, but he can indirectly force the tenant to vacate the property (e.g. the owner turns off electricity, water or he changes locks, etc.). In such a situation the tenant can sue the owner on the basis that he was forced to leave the house through constructive eviction.

Related Readings


Posted on: 12th Mar, 2007 01:33 pm
After the foreclosure sale on the 18th of March, how long will I have before I have to remove my possesions and vacate the property? The home is in Tampa, Florida.

Thank you.

Henry Murray
Hi tsehai!

The lender or the new borrower will send you a notice and may ask you to leave the house in 3 days. This is the maximum time you have. If you want some more time to leave the house, you will have to speak to the new owner of the house.

Thanks,

Jerry
Posted on: 02nd Oct, 2008 02:41 am
The lender and the new buyer may ask you to leave the home immediately. They won't give you time.
Posted on: 02nd Oct, 2008 03:09 am
I got a letter that states it is a petion to show cause. It state it is a non-jury hearing for foreclosing on my home and the court date is October 17, 2008. How long after this will I be able to stay in my home. I have four children under 12 and I am a single mother. My lender is First Franklin.
Posted on: 08th Oct, 2008 01:13 pm
Hi Gail!

Your staying in that house will depend upon your lender. The lender can give you a 3 day notice and ask you leave the property.

Thanks,

Jerry
Posted on: 10th Oct, 2008 03:39 am
if the sale date is set for nov 17th, and its sold, isnt there a 10 day grace period to make sure everything was legally done? if this is true im wondering how long after nov. 17th i have to get my stuff out. my apt wont be ready until dec 1st. and im worried they will put a lock on the door and throw out my stuff. please help.
Posted on: 15th Oct, 2008 09:29 am
my abovequestion is in florida
Posted on: 15th Oct, 2008 09:50 am
After a court ruling, the sale date occurs generally around 20-35 days after. The notice is published with the time, date, and location of the sale. For two weeks before, the notice of sale is published once a week.

The sale is usually overseen by the clerk, and normally takes place at the court house. Whoever makes the winning bid, must provide a 5 % deposit, and be able to pay the remaining balance by the end of that day. If this does not occur, a new sale date is set not less than 20 day later. A certificate of sale is given to the winning bidder.

Ten days after the sale, a transfer of ownership is given to the winning bidder, if there has been no dispute of the sale. Most of the time, the borrower has no right of redemption, once the certificate has been issued to the winning bidder. i was wondering if this is true do i still have those 10 days to move out?
Posted on: 15th Oct, 2008 10:59 am
Hi mary!

It solely depends on the new buyer and your lender whether you will be permitted those 10 days. Generally, the lenders offer a 3 day notice period to the defaulter.

Thanks,

Jerry
Posted on: 16th Oct, 2008 03:32 am
i just recevied a letter that says i have 20 days to respond how much time do i have in the house and how can i delay the process or try to work things out
Posted on: 29th Oct, 2008 04:06 pm
welcome ricardo.

i think you've received a notice stating the lender's decision to foreclose. is that so? you should contact the loss mitigation department of the mortgage company/lender and try to work out a plan with them. in case you wish to keep the home, you can negotiate for a loan modification or a forbearance to help you get current on the loan.

there are a number of loss mitigation options available. just check them out so that you can fairly negotiate with the lender.

thanks.
Posted on: 30th Oct, 2008 12:52 am
i live in florida and a 24 hour notice was placed on my door today. my house was foreclosed and now the sheriff notice say's to get out in 24 hours...do i really only hav 24hrs or do i have longer?
Posted on: 12th Nov, 2008 03:52 pm
Hi qwen,

You have mentioned that your house has been foreclosed upon. Can you tell me whether it is already sold or not? In case it is sold, the lender and the new buyer generally give a 3-day notice to the earlier owner to move out. If it is not sold, then you can negotiate with the lender and buy some time from him within which you will be able to move away from the property. You may even agree to pay a rent for that period of time.

In case the lender disagrees to this, then I am afraid, you will have to move out within 24 hours.

Thanks
Posted on: 13th Nov, 2008 01:06 am
I am being forclosed on today how long do I hvae to move?
Posted on: 02nd Dec, 2008 04:12 am
welcome kesha,

It will depend upon the lender. You can speak to lender and check if he allows you to stay in the property until it is sold off. Once the property is sold, the new owner and the lender will give you a 3 day notice to leave the property.
Posted on: 02nd Dec, 2008 10:57 pm
how long do i have to vacate the property after a forclosure sale date i live in cali
Posted on: 12th Jan, 2009 02:20 pm
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