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Foreclosure Eviction

Foreclosure Eviction - When a mortgage entersinto foreclosure, it is possible that you may lose the home to the bank and face eviction.

Eviction is one of the last steps in the foreclosure process. Foreclosure cannot result in eviction unless the lender completes a long list of steps which are mandated by law. That having been said, if you are behind on your mortgage, have received a notice of default, or have been informed by the lender or servicer of their intent to oursue a foreclosure, eviction is a real possibility and one which you should do everything possible to avoid.

When someone purchases or takes over your home at a foreclosure sale, they ay send you legal notice to vacate the premises within a certain notice period, ranging from 24 hours to 30 days. This is not a foreclosure eviction notice per se. In order to obtain an order of executionof eviction, the new owner, whether it is the bank or a private individual, generally must go to court to obtain a writ or order of execution of an eviction. During this stage of the foreclosure eviction process, it is up to a judge to determine whether or not you are to be evicted. You may have a write to appeal the court's decision in the event that you have been deemed evicted and an order or writ of execution of foreclosure eviction is granted. Again, the laws, rules and regulations governing foreclosure eviction processes vary significantly from state to state and sometimes county to county.

Often in a foreclosure eviction, the county sherif will be the one who serves you the true eviction notice. Depending on your location, the sherrif may have the right to physically remove you from the property.

The foreclosure eviction process can take as little as 6 days in some areas to as much as 6 months or more in towns with strong owner/tenant's rights laws.

The eviction process begins when you fail to give up or move out of the home in a timely matter

If you are facing foreclosure, be sure to know your legal rights within your particular state.

DISCLAIMER: The information contained in this article on 'Foreclosure Eviction' is a collection of contributions by licensed mortgage professionals and is not the opinion of Broker Outpost LLC. Always consult a licensed professional before applying for a mortgage.

Foreclosure Eviction

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