If i loose my home how long before the bank repos it?

Question

If i loose my home how long before the bank repos it?

Answer 1

I heard it takes about a year before you are out on the street from the day you are foreclosed.

Answer 2

A notice of default is filed with the county 4 months after you stop making payments. This is a NOD notice of default. They then give you 3 more months to make arrangements to come up to date with payments.Then they send the NOS notice of sale. Then it is 3 months after that when the auction is dated. The auction date is your last day in the house. Generaly they will tell you in another notice and instruct you. Some times banks want you out three days before the sale.

However if you when the lottery you can redeem your house back upto the day of auction.

Answer 3

About 4-5 months from the time the lender serves you with a Notice of Default.  May vary some from state to state.

Answer 4

3 months of non full-payments before you are defaulted.  I would guess 6 months from the defualt date before the sheriff comes to evict you.

Answer 5

It depends where you live, certain provinces do not allow you to become homeless, i.e. Saskatchewan. Check this out with your local bank and/or legal aid. They should be able to answer all your questions.