About fourclosure? how long before the bank can evict you?

Question

how long from first payment missed to the time you get evicted? how long does it take the bank to get you out?

Answer 1

It depends on what state you're in. Ask your attorney.  

Answer 2

I agree w/ "nermal..". Depends on where you live and how busy your lender is with other foreclosures. I was under the impression that you have 3 months from the first "late pay" to remedy the situation before foreclosure proceedings begin. So lets say June is the first missed payment, they would initiate foreclosure Sept 1. How long foreclosure proceedings take is the wild card. These are odd times. Any other time, your lender would probably laugh at you, but now, they very well may be willing to work with you to avoid foreclosure. They don't want to take your house just as much as you don't want them to. Call them. Work on negotiating your loan into a stable loan product at a reasonable rate. You have nothing to lose and everything to gain...well, at least your house. Good luck.  

Answer 3

It just depends on how busy the bank is in their foreclosure department.  Don't think you are gonna get a free ride, though.  Your credit will be ruined and they'll probably get a judgment and garnish your wages in the future.

You're better off giving them the deed then letting them foreclose.  It's called a "deed in lieu of foreclosure"

Oh, you'll have to pay their attorney fees, too.

Answer 4

It depends on the state you live in. In areas where there isn't a bad housing problem, maybe 30 days. But in areas of California it's around 90+ days. Call your lender and ask them for assistance. Explain your situation and they may temporarily reduce your payments until you get back on your feet.